It does read well
@tully7 -
This sums it up for the June Q.
This really caught my eye.
So basically, because of the changed mine plan, what you see is what you get whist they mine Stage 2 (which I believe will last until the end of 2023 approx). Though I would have thought any expansion of Plymouths open pit would add a little.
The AISC was good, but... not amazing, considering the grade increase (I almost would have preferred SL to not say that it will happen again, then if it does, its a true 'bonus', versus being built into expectations, but that is just me). I guess it just shows that guideance is realistic, with the AISC likely to sit around $2200 AUD over the near term. Which hopefully means they will continue to see margins of at least $400+ an ounce.
The plant continues to hum along, and will hopefully process a higher amount this quarter without interuptions (closer to 670k tonnes, which at 1g/t, will see GCY mine around 21.5k, and pour 19.5k ounces (which I think should in turn, get them a similar AISC as the costs will average out etc).
It will be interesting to see how Stage 2 goes in regards to overall costs, as logically, the strip ratio should be slightly reducing...
Not sure the low grade stockpiles are overly important, except that if push comes to shove, they can process it if need be. Either way, they are sunken costs and will enalbe the plant to produce around 30k in the later years assuming they have no more ore to dig up.
Very pleased to see them already working hard on ensuring that Gilbey's north Discovery can be brought into the mine plan as quickly as possible.
Would love to know how long the Plymouth ore is supposed to last for.... Either way, stripping costs will reduce and more ore goes to the plant. Hopefully the grade is above 1g/t...
Either way, we soon find out whether or not the Plymouth pit is going to be expanded.
Seriously hoping they have some success on the footwall. I guess we will know a lot more once the results start to come in, perhaps... end of Q, start of July...
It would seem Archie rose is not going to make the April timeframe they had hoped for. Not that is is pivotal, as its not inside a mining lease. So would not be accessable for quite a while. Lots of paperwork to be done. Perhaps late May is my guess.
Interesting to note that GCY is indeed focused on Melville again, perhaps the opening of borders has already meant that getting the required trucking capacity is achievable over the medium term.
BUT.... the reality is, there will be no Melville ore at GCY this calendar year (as per the last highlight below).
I do feel a new road would dramatically change the cost of trucking to the plant, but... then how much does a road cost for say, 50km....
As for the non- core....
All options are on the table.
Finally, it would seem that there is indeed interest in GCYs assets, which... whatever is done with them, bodes well.
Now the team just need to keep their head down, fill the plant and hope the drill bit finds some gold that makes the market pay attention.
(20min delay)