Pretty sensible set of results. Production in line with guidance (just below mid-point for CY2020) - even though the plant utilisation continued at 82%. AISC dropped (though only because of increased volume).
I think 2021 will be a proving year for GOR - i.e. can they get the plant ute up, can they see a systemic drop in AISC.
Re. exploration, I think Gilmore is beginning to look interesting. Potential addition to the NW for the existing MR, and then the emergence of the potential new shoot (with some reasonable initial results). It feels like Gilmore has been just "hanging around" for some time - perhaps 2021 is the year where GOR makes a move with it and determines its viability - either as a standalone (would need significant addition to the scale), or as a distant (55km) extension to Gruyere.
Pretty sensible set of results. Production in line with guidance...
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