I'm not saying its the end of the world for GW, but I think every regular here cannot deny at this point the seriousness of constant mangement delays. I don't want to here any of your tired excuses either. It is what it is. You all would be vilifying Moly for doing the same thing. Despite how wwwater sells this to you, he cannot deny that this is a significant delay. And its not business as usuall. There is something going on. I suspect the financing needed is going to be a lot bigger than what management has led us to believe.
The stock price was a fake out today. We will be back into the 20s soon.
As usual the doomdayers don't know anymore than the rest of us so let me put my spin on it...lol...
Among the various rare earth element (‘REE’) projects that have been launched around the world, Avalon is one of the few that actually have reserves and that are at an advanced stage of development. The metallurgical work is where Avalon is concentrating much of its efforts, trying to obtain the best results while keeping processing costs low. The trial specifically targets the acid bake process, using sulphuric acid, used to produce a mixed REE concentrate containing most of the targeted Light REE and over 50% of the Heavy REE. The concentrate is then processed further at the separation plant, where the separated REE oxides are produced. The residue from the acid bake holds the remaining key elements such as niobium, tantalum and zircon along with other REE’s. The typical approach is known as cracking, which is costly. A low production cost is one of the key factors that will ultimately determine success in the REE sector and Avalon is looking for cracking alternatives to lower capital costs.http://proedgewire.com/rare-earth-intel/avalon-issues-progress-report-and-signs-mou-for-offtake-agreement/
Preliminary Economic Assessment ("PEA"): GWMG had previously set January 2013 as a target date to issue a news release highlighting the results of a PEA as well as an updated National Instrument 43-101 Resource Estimate (the "Resource Estimate"). The Resource Estimate was issued in January (see GWMG news release January 21, 2013).
The Company now estimates that the PEA will be completed and the results released prior to the end of the 1st Quarter of 2013, as GWMG's new Chief Executive Officer and his senior management team are gathering additional metallurgical testing and capital expenditure data in order to properly evaluate the options available in the context of the expanded Resource Estimate.http://www.gwmg.ca/html/news/media-releases/index.cfm?ReportID=203476