wgx going UP?, page-40

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boppy

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13/11/22

11:54

Post #: 64741572
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Originally posted by fitnfam: ↑

A year is a long time in business.
What made simple sense then may no longer be economic.

GCY was a glove fit back then with ore galore coming spare and a pit mining fleet looking for another whole to dig from WGX.
How simple it would all have been.
Immediate upgrade for GCY mill from a Breakeven feed to profitable cashflow the moment trucks arrived with higher grade ore onboard from generous site stockpiles.
A fair equitable offer was made and rejected so another entity could end up Managing GCY at the cost of buying the new management's business in.

Since then costs have gone mad and mobile pit plant has been idled.
Now the other mill is also idled costs associated with the old deal have made it ludicrous to consider unless got for a song.
Even then the costs of recomissioning it mean large cash reserves will need to be invested over time before any profits would be seen.

IMHO It can wait WGX doesn't have enough unallocated cash to immediately do anything except keep growing it's cash pile.
Nor does it need any of GCYs new management in our management team to spoil the team we have.
Get Fingal producing and let's see some dividends flowing.

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Hi fitfam. good post. may i ask what 'mobile pit plant' is exactly? Do GCY have some sort of mobile mill?

Since then costs have gone mad and mobile pit plant has been idled. Now the other mill is also idled...

WGX Price at posting: 89.0¢ Sentiment: None Disclosure: Not Held
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