Thank you Westmount! We might own more than 4% of GCY? The last...

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sabine

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18/07/23

22:20

Post #: 68853754
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Originally posted by westmount ↑

Think NWH still has around 4% of GCY? Some lustre seems to be developing with both the gold price and (hopefully) with GCY. Here's Barry Fitzgerald on Livewire today:
Gascoyne Gold (GCY):
A resource upgrade is just what a gold stock should be looking to drop into the market now that the gold market is back on the boil.
That’s just what Gascoyne (GCY) will do soon. That is known because Gascoyne boss Simon Lawson said so on Monday.
Lawson said the resource upgrade would be out by late July.
It is also known that he is the headline act in Resources Rising Stars’ “Twilight” investors series that swings through Brisbane-Melbourne-Sydney on July 25-27. It always helps to have a good story to tell on the road.
The resource upgrade is likely to be just that, a good news story, perhaps even a game-changer for the company, something it could well be preparing for with its planned name change to Spartan Resources (SPR) in August.
Anyway, the resource update will again shine a light on last year’s Never Never discovery at the company’s Dalgaranga gold project in WA’s Murchison region (another reason for the name change, it’s not in the Gascoyne).
Never Never already has a resource estimate of 303,100oz at 4.64g/t. It sits in the shadows of the low-grade pit at the operation which was running less than 1g/t dirt through a newish 2.5mtpa treatment plant before Lawson called a halt last year.
The discovery prompted Lawson to get to work on planning a high-grade future for Dalgaranga with Never Never as the backbone. A bigger resource would be better. So there will be lots of interest in the impending update.
It will be fed into Lawson’s “365” plan for Dalgaranga. It’s about establishing a high-grade 300,000oz reserve at Never Never, a 600,000oz high-grade resource at the deposit, and to deliver an initial high-grade five-year mine life.
There have been no clues about what the pending update may weigh in at. But drilling results suggest something around the 600,000-ounce mark.
Such an outcome would prompt a re-rating for Gascoyne. It last traded 18.5c which is up from 12c since it was last mentioned here on May 26.
It is also worth mentioning that in Monday’s announcement on latest drilling results and the pending resource update, Lawson mentioned that a “number of new high-grade structural gold prospects which represent Never Never look-alikes or repeats” had been identified.

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Thank you Westmount!

We might own more than 4% of GCY?
The last notice I can see was on March 15 stating 6.04% as of [08/03/23 ] with no “ceasing to be …etc” notices after that?
..but maybe they forgot.
On market cap of $171m (that’s about the mc at today’s close of 20c a share according to google) 6% means the NRW holding is $10m (says google, not me!).
— Better than a slap in the belly than a wet fish, and considering (I think?) that NRW wrote off the whole Gascoyne deal as a bad experience, not a bad amount (nor a proper reimbursement for the all up costs!)
But if price there goes to 4oc a share it might give Jules a bit of a wan smile?

Fingers crossed for remarkable positives there from now on!

cheers : )

NWH Price at posting: $2.68 Sentiment: None Disclosure: Held
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