Ann: Dalgaranga Update and Continuation of Voluntary Suspension, page-58

Before selling the company for less than replacement cost of the plant, or merging at an unattractive ratio to other producers, or rolling over and being screwed by brokers, maybe SL should at least offer shareholders the first option to fund the company. Maybe a 1:1 offer @ .16 to raise around $65m would be a good outcome as current holders retain ownership and can benefit from any positive exploration ahead of restarting mining.

Once the company has a higher level of financial security, they can continue to build resources close to the Dalgaranga mine and use the plant for treating third party ore until ready to restart production.

We aren't a distressed company though some conversations seem to suggest it to be so. SL has to hold his nerve here and just make sure GCY has no current debt so no claim can be made against the company. If we owe no money then there is no immediate pressure on management to make any detrimental decisions.

As shareholders (part owners of the company) we need to have input into what happens next, unlike companies that are in debt and have to bow down to their creditors.