Hey Triage, as you say, until they have something tangible result wise, its just noise. As for GCY and Dalgaranga, I agree overall, except that in the near term, unless they hit a very economic, low strip discovery, they are still better off mining the main pit, even with the high non-sustaining costs required, as its a known quantity. Even without FFR, they have 3 years at 75k p.a (then it tails off). No doubt GCY is going to expand the drill program at Dalgaranga, however, it's damn hard to find new discoveries, just look at GOR. They have spent over $100m in drilling (not including infill drilling) since their major discovery back in 2014 and have basically found nothing....
We also know that the Snake Well deposit is for sale, and perhaps can be snapped up in the years to come to add perhaps another 6-12 months of feed. Plus we have Western Queen to the north, though... after the recent announcement by RTR, there is a good reason RMS sold it to them.
Everything takes time. If GCY discovered a deposit tomorrow, it would probably take longer to access than FFRs deposit (unless it's inside the mining lease).
Hopefully GCY have a solid quarter, as the POG they will receive will be the highest in the market.
GCY Price at posting:
32.0¢ Sentiment: Buy Disclosure: Held
(20min delay)