6 times� really?..., page-5

toly,
Correct me if I'm wrong. You are better with this stuff than me:

For the six months ended June 30, 2011, the Company?s cash position was $10,241,900 at June 30, 2011.
http://www.gwmg.ca/images/file/2011-Q2-GMWG-MDA.pdf
page 10

Overhead expenses increased $4,982,313 (131.5%) to $8,769,743 as at June 30, 2011, compared to $3,787,430 at
June 30, 2010. The increase resulted primarily from issuance of stock option certificates to employees and
contractors in 2011.
Page 11

The Company?s cash position, including cash in trust, decreased $5,673,422 in Q2 2011 (They blame the Rare Co purchae for this, but don't they have much bigger expenses ahead?).

My point is these guys are broke, with a big share count, and all of their expenses in front of them. These warrants they talk about are small numbers till 2014 by my calculations. So logic would say they need $15 million in a hurry (6 weeks?) and would probably go to market for $30 million at least. At $0.75 a share that 40 million additional shares in the market for a ten percent dilution.

And that would only cover overhead till 2013 if overhead expenses do not increase much which they will as the company grows. Never mind they need a concentrator, solvent extraction plant, and two furnaces at LCM. These guys are all hat no cattle as we say in Texas. They have it all in front of them.