You can see it as a glass half full or a glass half empty announcement. Things have taken longer than expected and there have been unexpected problems. But no big problem. Ever tried to build a standard suburban house. Unaccountable delays beforehand with local government. Suppliers and tradies let you down and then the client is unhappy with the delays and the end product and holds back money. I suspect a mine is slightly more complicated and expectations are not going to always be met. There are more positives than negatives from this report. It was common knowledge beforehand that the price had taken a battering but Mt Cattlin is still profitable and there are firm plans to move SDV and James Bay to production. In time Mt Cattlin will be a minor asset for GXY with the other 2 dominating. There is no JV with SDV yet because the offers have been too low. GXY can and will go it alone if they can't get what they consider a fair offer. Nothing wrong with that strategy
GXY Price at posting:
$2.16 Sentiment: Buy Disclosure: Held
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