Ann: March 2022 Quarterly Activities Report and Appendix 5B, page-9

Well what a different quarter to the last. The future is looking very rosy for GCY with tailwinds far outweighing headwinds.
One thing I love about SL's tenure so far is his ability to delegate and rally Gascoyne's employees.
I'm sure the mood around the place has improved dramatically.
I'm curios to know what his staff retention policy is?
Congratulations to all the team at GCY on what is an industry leading QoQ operational improvement. Whatever the bonus you guy's received, you deserved it.

Production cashflow for this quarter should be solid with throughput likely increasing QoQ (6 extra operating days), whilst grade should remain elevated with Plymouth ore flowing again after recent waste movements. Having no financing costs going forward is a pretty nice cash adding bonus.



Yellow highlight Denotes best performing quarter.


If they can hit a grade of minimum 1g/t and increase throughput to 670kt while maintaining a recovery rate of 88% we should hit the higher side of FY22 guidance.
21,543 x 88% = 18,958 for the June Quarter.
FY22 production would come in at around 73,800oz.

AISC for June quarter needs to be below $2,200 per oz in order to achieve FY22 guidance of $2,100 - $2,200 per oz.
AIC for June quarter needs to be below $2250 to hit AIC upper FY22 guidance.

$6,635,300 would be a very achievable cash build for the June quarter using $2,250 AIC, 18,958oz produced and a $2,600 gold sale price.

One would be considered crazy to believe this was possible 3 months ago, but throw the non core asset sales into the mix, and we could be sitting comfortably above 60 million cash, bullion and equivalents by the end of this quarter with zero short term debt!




DYOR
GLTAH