GCY Fate and a likely outcome, page-10

Have been disappointed in the past with investments only for my luck to change and turn into a 10x trade later down the track.

Been doing some soul searching lately...

The reasons why I first entered GCY haven't changed at all. In fact, it makes an even more bullish case to hold now than when I first entered back in June.

Melville look's like a great little deposit that will be very economical to mine (minimal stripping cost) due to the shallowness of the ore-body. Since most of the resource is indicated (10m grade control drilled), there is a very good chance that at least 70 percent will make it into the reserve category.
196,000 x 70% = 137,200 OZ reserve. Recoveries have allegedly been testing through GCY's plant with recoveries above 90% achieved.
137,200 OZ x 90% = 123,480 OZ
123,400 OZ x All In Cost conservative estimate $2000OZ = $246,960,000
Gold price sold at $2400OZ = $296,160
123,480 x $400 Margin = $49,392,000
Interestingly the price paid by GCY for FFR ($48,900,000) is almost identical to the above conservative estimate of NPAT accumulated from Melville deposit.


Doesn't make it seem as expensive when including the 7 pending FFR Mineral Resource Estimates. The assays are already in the lab and an announcement of the results are immanent.















With recent inflation pushing construction prices. into the stratosphere, GCY have their very own golden goose. The plant has literally doubled in value over the last 4 years.
If we know this and GCY BOD know this, then the dozen or so miners and explorers surrounding Dalgaranga almost certainly are aware of this.

The more I've researched the fundamentals of the GCY/FFR business, the more comfortable I become holding a large position in this entity.
I have changed my sentiment to buy from hold and will personally will put more money where my mouth is and add to my position if price drops below 35c.

GLTAH
DYOR