Must admit, I did not read through the whole doc, bit time poor at the movement.
Obviously lots of interesting details.
@wassa - absolutely, they are going to be wanting to find any way possible to reduce waste movement/costs etc to access more ore. East Wall results indeed nothing exciting, but... if they can push us through another quarter or production, with margin cash flow generation, GCY will use it. Stage 3 is the big unknown right now. I struggle to understand how as a minimum, some form of Stage 3 wont occur, now that Gilb North is in play. Its going to be mined, cheap ounces from the get go, which will hopefully more than justify expanding the overall pit.
@Joelstar - nice details/post. For better or worse, I have always believed there was more to Dalgaranga than just Gilbey's. Seriously hope the GCY team have finally proved I was right... shame I was over a decade early
@pbawley - It is a little unclear. Hopefully my slight amount of pessimism is proven unfounded. I am ok with slowing down the drilling, as drilling for the sake of it, is of no benefit. Especially with the long lead times making it less efficient to do so, as you need the results, before drilling more! As you say, perhaps SL was just trying to manage expectations in regards to more drilling around Gilb North in the near term...
A shame the POG is struggling, but.... it sort of makes sense, at least in the short term, liquidity wise (as in, its easy to sell, and many may need capital due to all number of reasons, or... its just all bu*^^&9t and manipulation by the Central banks), luckily, the fall AUD means GCY is still receiving a very good price.
GCY Price at posting:
23.5¢ Sentiment: Buy Disclosure: Held
(20min delay)