Ann: Retail Entitlement Offer Results, page-12

I agree with you mate.
I think most are stuck in a negative loop and ignoring the bigger picture here.

1. Deposit splaying out the deeper it goes.
2. NN Deposit only 800m from plant.
3. $10 million to be spent on drilling NN = potentially discovering an extra 500,000oz at a continued $20 per oz discovery cost.
4. There's been inbound inquiries from surrounding mines regarding toll treatment optionality at Dalgaranga (the higher the gold price the more sort after that mill will become).
5. Gold has increased over $350 AUD since mine went into C&M.
6. Expensive mining contract now null and void.
7. High potential of finding NN style high grade parallel or linking structures.
8. Deisel price has dropped over 20% since November 6th.
9. Plenty of base load options to blend with HG ore (Gilbeys East, Melville, Plymouth, Archie Rose and over 2 million tons of low-grade stockpiles).
10. Potential chance of M&A increases exponentially as gold price moves into blue sky territory.
11. GCY generated 15 million FCF during the previous corresponding March Q with a head grade of only 1.2gt (imagine +1.6gt).
12. Eight deepest holes averaging almost 9gt.









Needless to say I took my bounty at 10c.

DYOR
GLTAH