turning point, page-56

furniture, when GRY was @ 1.00, it was all blue sky. So were most goldies- at their different stages. The big news for GRY was the BFS/DFS- 17% IRR @ $1300 gold. PIR is the only one that has used $1200 gold (still comes up trumps on that figure- I don't hold PIR), because gold was so high before this period, that they all went on $1300 as their base case. At $1200 gold, PRU comes up about even. With gold @ about $1330, GRY could still do ok- it needs finance, obviously. The hope would have been that GRY could spend its time working out ways to lower costs- and it has certainly reduced corporate costs with its slash and bun of staff, but can this be enough to better the IRR of the project, in order to get finance? Thing is, if the project is to go ahead, the company would have to re-employ many of those just sacked. The other side of the coin is that if it gets finance (I read the other day- can't find it now- that $250-$300m should be what it needs all up), I expect the share price to double.