Hey Wassa,as I understand it, the Golden Wings tailings should...

Hey Wassa,
as I understand it, the Golden Wings tailings should last for the life of the project, which I think would equate to perhaps another 3-4 years at the current processing rate.


Great discussion by all on the threads which I appreicate greatly, as GCY does not get much interest on HC (or I suppose in the market in general).

@Glutten - not sure NWH mind who owns the company, their contract is likely secure either way, as they have proven they can fill the plant very cost effectively, WGX or any suitor would I believe, have no reason to change contractor.
My gut feel as to why NWH would have accepted, is simply risk mitigation (having GCY part of a larger company could be viewed as ensuring business longevity) and liquidity. They cannot sell out due to low volumes.... they are not in the business of owning miners, but running thier operations. So overall, I view them as a fairly neutral holder.

@Joelstar - appreciate the valuation summary. I am just going to speculate that SL will spin off Glenburgh etc, though the large move in POG is likely to help with any offers that are potentially on the table.

I have already posted on Stage 3 and its importance. I don't view the large stripping costs as an issue, in the sense that if its profitable to mine, well... that is all that matters. WGX have extra high grade ore, but they still want a base load feed for a big plant like Dalgaranga, so.... Stage 3 offers a minimum of 3+ years of extra base load. To put it in context, WGX has spent almost $200m (yep... a lot) of developing its Big Bell U/G. It has a lot of gold, but... the total cost for all those ounces is incredible when calculated over the LOM.

Good post @pbawley
I do feel that SL should still be focusing on bringing Melville into the mine plan, as while he states the costs have risen, the grade is still much higher than at the Gilbey's pit. I guess that will come back into focus if SL can steady the ship and ward off any corporate action.

It will be interesting to see if POG goes much higher, at what point, Stage 3 become viable irrespective of the Gilbey's north discovery.