A total of 5,000 tonnes of stockpiled material was passed through the Company’s onsite x-ray ore-sorting plant. The initial tests were conducted to commission and optimize the sorter plant operations, including adjusting the sorter’s operating parameters with the aim of maximizing metal recovery and material throughput. The Company trucked approximately 23,000 tonnes of gold bearing mixed development material, including sorted rock, to Northern Sun’s Redstone Mill for processing. The success of this process confirmed that Bradshaw would be able to provide a sustained delivery to the mill, using a local trucking company, hauling the expected average of 800-850 tonnes per day (tpd) of material. Approximately 1,040 tonnes of concentrate were produced for shipping to the Humon smelter. Gold recovery from the mill demonstrated steady improvement as the processing advanced.
Gowest entered into a loan agreement with Lush Land Investment Canada Inc. in respect of a bridge loan in the principal amount of $1,000,000. The proceeds of the loan were to be used for general corporate purposes. Meirong Yuan, a director of Gowest, is also a director of Lush Land.
Ms. Janet O’Donnell, the Chief Financial Officer of the Corporation, gave notice that she would be resigning from the Corporation effective August 28, 2021, although she remained available to assist with an orderly transition. Ms. O’Donnell has served as Chief Financial Officer for 13 years and played a key role in the growth and development of the Company.
Mr. Gregory Romain stepped down from the Board of Directors and as President and Chief Executive Officer of the Corporation after having served the Corporation for the past 13 years. Replacing Mr. Romain as Interim President and Chief Executive Officer is Mr. Yungang Wu who is a member of the Gowest Technical team and a member of the Board of the Corporation.
The Company was saddened to announce the recent passing of Gregory ‘Greg’ Hart, the Company’s previous Mine Manger, who died in Timmins, Ontario on August 29th in his 61st year. Mr. Hart joined the Gowest team as Mine Manager in September 2017, bringing his over 38 years of direct experience in leading mining and construction activities to fortify the foundation for the development of the Bradshaw gold project. Prior to that, he had been Underground Manager and Manager of Operations for Goldcorp’s Porcupine Gold Mine in Timmins, as well as VP, Operations with Dumas Contracting.
The Company entered into a loan agreement with Meirong Yuan, a director of Gowest, in respect of a bridge loan in the principal amount of $500,000, to be used by Gowest for general corporate purposes.
Gowest completed its previously reported conversion of an aggregate of $18,024,088 of debt owed to four separate creditors into equity of Gowest. The Debt, which was incurred by the Company to support operations since 2017, was converted into common shares of Gowest at a conversion price of $0.25 per share, resulting in the issuance of an aggregate of 72,096,350 common shares of Gowest.
The Company entered into a loan agreement with Lush Land Investment Canada Inc. in respect of a bridge loan in the principal amount of $1,000,000 for working capital. Meirong Yuan, a director of Gowest, holds 25% of Lush Land.