wwwater - Without your considerable work I would not be in this stock. Thank you. There is much more noise than signal in this board lately which would make a relative newcomer have a very difficult time pulling the story together. In the end, I think this is the ultimate reason they decided to go with a PEA, as you have articulated previously several times. They need this to talk explicitly about the entire enterprise.
Another aspect of GWMG that has taken some time to absorb is that the culture and company has definitely not been one of doing something quick to get rich in a short period of time. The company has not been throwing shares at executives and directors and only recently has really started awarding options. GWMG has been quite frugal over the years in acquiring resources such as GWTI and LCM (and Rareco). They have missed optimal timing for equity raises in the past, but they certainly do not throw money around. Instead they have invested it wisely and carefully. I am so impressed that they brought Baodong Zhao in back in 2008!! As well, there was very little mention of Rui other than a mention in the update. UCore no doubt would have had multiple press releases just on bringing Rui in as a consultant for separation.
Even though Jim and Gary have left the company, the core of the company has already been built and their decisions in bringing people in are what will make this company over the next several years. Personnel are critical and it really looks like they have done a great job in this. As well, they have been good at cutting losses when needed apparently (Mora, East Rand Engineering).
I have to be honest that I am a tiny bit nervous, but I am comfortable. The question here seems to be when, not if. I can afford to wait.