Ann: June 2021 Quarterly Activities Report, page-11

Well bit the bullet today and purchased more GCY.
Was going to wait for GP to rise over $2500 but decided to take a gamble, although it kinda feels more like a high probability value play at these low levels.

Really impressed with the new management.
So much to look forward to like:

Strongly improving production and cash generation telegraphed for September quarter.
Several imminent assay results and future exploration upside which could have an instant significant impact on SP.
Soon to be formalised merger with much improved LOM and production profiles.
Capex stripping costs telegraphed to be wound back (pending merger) which will free up FY 22 net cash.
Debt free by end of this financial year.
Continued high leverage to a potentially strengething gold price.
Protection against short term gold price fluctuations using industry leading hedge book and put options.
Continued consistent production with GCY's dynamic management and mining team recently showing they can adjust quickly and thrive under challenging circumstances.


Probably looking at this with Rose coloured glasses and attempting to justify backing my truck up today.

I am a little nervous about the lack of recent liquidity with some days trading volume actually below my now current holding size. Guessing this is partially because of the sate of limbo caused by the pending merger, and the Firefly's SP arbitrage effect.
The gold price and gold mining sector aren't exactly flavour of the month atm either, however I still have a strong fundamental belief that this weakness is just a temporary shakeout of weak hands.
Hopefully GCY will continue to be a case of yesterdays dog becoming tomorrows darling.

DYOR
GLTAH