Hey Plough, I am very very fallible, and GCY.... is without...

Hey Plough, I am very very fallible, and GCY.... is without doubt 1 of 2 stocks that are for better or worse, my kryptonite.
I think if MGV were able to secure Dalgaranga on the cheap, they would easily be able to raise $50m to not only develop Never Never, but also their high grade open pits, and get into production. Even if MGV paid $80m for GCY plant (with script) and then raised $50m at $0.20, they would have approx 1.19b shares, which, at $0.20, would have a market cap of $238m, with $55m in cash (E/V of $183m). This company would have almost 2m ounces, with both high grade open pits, and a newly discovered U/G pit, plus 3-5 years of higher cost base load ore. With the right management, such a company once in production and generating highly profitable ounces, would be worth north of $1 billion.

I guess it will be very interesting to see what MGVs PFS comes up with for their stage 1 mining plan. I am highly confident that it would be very profitable if fed into a low cost plant.

You make an interesting point about West Aust and West Africa. I was lucky enough to put the majority of my investments into West African producers as I started to see the issues West Aust was facing with staffing and inflation. The same issues (though less about staffing), are now starting to hit West Africa, like Ghana and its 30-40% inflation... the country's stability is not coming into question. WAF is struggling, only because the country they operate in is 40% controlled by enemy forces. I can go on. I have actually be slowly rotating some of my funds back to W.A (even though I know the producers are still facing challenges), because... country risk is the one thing that miners have absolutely no control over.

I know you keep an eye on many gold stocks, and DCN has shown that assets in the wrong hands, are worth a lot more in the right ones. Perhaps GCYs plant, will be resurrected too.

That all being said, I am comfortable in saying, I should have been more careful with GCY
As always, I appreciate your views Plough, you wiser than me I need to be much more careful with my capital.