Great Western Minerals Group Ltd. - GWMG or the Company, is a leader in the manufacture and supply of rare earth element-based metal alloys and holder of a low cost, high-grade critical rare earth element mineral property in the Western Cape province of South Africa, today reported its second quarter financial results through June 30, 2014, and provided an update on the Company activities. All amounts are presented in Canadian dollars unless indicated otherwise.
Highlights and Results
- Second quarter revenue increased 31 per cent to 5.6 million dollars over the
prior-year period on strong alloy sales as a result of enhanced
capabilities and increased customer demand. Revenue was generated by
the Company production subsidiary Less Common Metals Limited - LCM,
- Released the Steenkampskraal project feasibility study results
during the quarter; Company moving permit process forward and focused
on securing financing to develop the project,
- Company had 13.1 million dollars in cash as of June 30, 2014
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