Dear Shareholder
GREAT WEST GOLD, INC. ("GWGO")
Thank you for your E Mail.
I apologise for not dealing with each and every question posed to me by numerous Investors and other interested parties but wish to place the following on record :-
I have requested that in the interim period, each and every communication to GWGO be sent to myself for response. I have been quite frankly, overwhelmed! I have realised that my best course of action was to send this personal response to all of you that has taken the time and trouble to communicate with ourselves.
I have but asked by several GWGO shareholders, who have spoken to me in person, to put out an announcement in a hope to put your minds at rest. It is obvious that many shareholders are concerned about the future of GWGO and the inexplicable drop in its stock price, which I believe is being further fuelled by rumours, bulletin boards as well as the short selling. Below are some responses which will answer questions I have been asked!
We have acquired some excellent mineral projects recently and we announced these to the market accordingly. At a time when both Gold and Copper were on a high you would expect the stock price to rise however the market reaction was the exact opposite. I can categorically state that the value of your Company has risen dramatically over the past six months and we hope that this trend will continue. Although we believe there is a significant amount of naked short selling taking place with our stock many shareholders have also suggested other routes that they would like to be investigated and these will be followed up. Management is committed to the filing of the outstanding Form 10-KSB and the Form 10-QSB and hope that this be completed shortly. The Company is at this time in the process of appointing new Auditors which is delaying these filings.
Our goal always has and will continue to be to seek the highest value for all our shareholders whether big or small. We have always sought out the best assets that were available to us and this meant that we have had to release some projects that were going to prove too costly to bring into production. We have concentrated on projects on US soil and sought independent advice when projecting any valuation.
We have made announcements recently that advised the market of the possible restructure of our corporate business in an effort to protect shareholder value from the effects that the market seems to be having on GWGO as a whole. Shares in any spin off companies would be distributed proportionately to all GWGO stock holders. The Company will be addressing the issue of Stock Dividends already declared to its shareholders and as announced, this be dealt with in and during June of 2006. The Company will be announcing further Stock Dividend distributions to its shareholders.
I have taken no salary remuneration from this company nor do I charge any personal expenses to GWGO. (Yes I was asked this!). Furthermore I can place on record that neither I nor any Company Insiders have disposed of any Stock in this Company whatsoever.
The Company is solvent, positive and enjoys the support of substantial investors, the largest being St James Capital Holdings, Inc. who are 100% committed to the future of the Company.
I understand the frustration that many of our shareholders are feeling and I would like you all to know that I share in this frustration. We celebrate every time we sign up a significant new project and I am proud of the work that out team does to achieve these wins. Our PR team type with gusto the press release that tells the world of what we have achieved and we all look on to watch our stock price go skyward.
I am delighted to inform you that the unauthorised and extremely detrimental secondary quote of your Company's Stock on the Berlin Bremen Exchange was terminated as yesterday which (we hope) will make illegal naked short selling in your Company's Stock a thing of the past.
I hope to communicate more regularly with you all directly in the future however as a closing note:- For those of you who are actively trying to damage the GWGO price please be very clear in the fact that we will not simply roll over. For those legitimate stockholders who have invested their hard earned dollars please rest assured that we will continue to acquire assets and add value to your company.
Please rest assured that should have a specific question that you require answering about GWGO (which I am in a position to answer), I will be happy to do so as fast as is humanly possible. I ask that these E Mails be directed to investor@greatwestgold.com and I will be deal with these questions from there.
Richard M Axtell
President – Great West Gold Inc
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