I think the main issue is Monument Mining (the new J/V partner).
They have some litigation issues and have yet to raise the money needed to pay for GCYs funding (or at least, I think that is the current situation. Monuments company documents are a little confusing to read through, so I don't know their actual cash balance).
Perhaps some stale holders getting out, after all, GCY has sadly not achieved much Share price wise over the years. I think that will change, but not until the Monument deal is fully done and one of its gold projects actually gets developed. Ho hum.
What gives?, page-2
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