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Goldnumber

13,754 Posts.

704

27/10/22

06:48

Post #: 64419485
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Originally posted by Joelstar: ↑

If I was an MD looking for an acquisition I would try and buy both MGV and GCY. If I had to pick between the two I would 100% go for GCY.

Disclosure:
I Had a small position in MGV but sold out for a small loss when the gold market was tanking a couple of weeks ago.
Not a huge fan of their managements procrastinating ways.

Really like GCY and its management team.

I have a very large position in both WGX and GCY.

Both are moving into newly improved operational phases.

GCY's own high grade Never Never deposit is ready to mine as of today.
GCY's new pits (Gilbeys East, Gilbeys North, Plymouth, Gilbeys South) are all shallow deposits. Every deposit is only a short stroll away from their highly efficient gas-powered processing plant. Their plant can run when treating oxide ore at a throughput rate of up to 3.2mpta, this is over 75% of WGX's current milling capacity.
GCY are looking at drilling specific already known targets that have shown similar East West striking features as the Never Never deposit.
Finding another NN type deposit would be a great share price catalyst!

Gilbeys East is another smokey, it is nuggety deposit with more scattered high-grade veins than the Gilbeys Main Zone.
If Gilbeys East is a success story, then the sky could be the limit for GCY.

WGX is its own unfolding success story.
All of their large underground operations have encouraging tailwinds.

Tuckabianna

Big Bell is supplying over 100,000 tons per month with grade rising as more virgin lodes are accessed. Big Bell equates to about 85% of Tuckabianna's feed.
The other 15% to 20% will come from stockpiles during FY23. This will raise AISC but more importantly increase cash.

Bluebird

Paddys Flat will continue to rise in grade, with lots more potential upside, as was shown by today's fantastic recent drill hits.

Bluebird is expanding production and grade is still trending up.

I'm estimating about 1/4 of Bluebirds feed will come from stockpile drawdowns which will increase AISC but also increase cash generation.

Fortnum
Starlight grade could surprise to the upside as the high-grade nightfall lodes output continues to ramp up throughout the year.

I'm estimating about 1/4 of Fortnums feed will come from stockpile drawdowns.

All current expensive to run diesel powered processing plants are being refitted with cheaper gas turbines.

Their most consistently profitable plant Fortnum is increasing throughput in FY23 by between 10 to 15%.

Exploration is ramping up with potential to add new very high-grade ore sources (Great Fingall, Golden Crown and Sovereign).

Caustons is currently being infill and step out drilled to test extent of known mineralistion. Caustons could take the pressure off Big Bell and provide further cost benefits as the mine is shallow and within 1km of the Tuckabianna mill.DYOR
GLTAH

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Thank you for your swift, educated and respected words.
Many are undervalued some over, some justified.
You & wgx are (only my opinion with wgx) way undervalued.
re-assuring & Thankyou again
I will be limited in words today (grumpy bias as tooth still feels bruised after treatment from the dentist pain man?/

WGX Price at posting: 81.0¢ Sentiment: Buy Disclosure: Held
1 Upvote

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