Duncan suggested any M&A action would be funded by existing...

Duncan suggested any M&A action would be funded by existing cash, secured debt potentially using Gruyere as security and issued equity.

He was at pains to mention GOR had made many enquires on multiple projects across Australia, USA and Canada.
They're looking at late-stage exploration, development and producing assets.
The existence of their 150 million current debt facility was also highlighted during the call.

The call generally came across much more positively than expected.

Operations were generating near record monthly cashflows before main rain event.
Previous manning level issues are completely rectified.
New Gruyere Mining Manager and General Manager are making a big difference to operations.
A Six-hundred-ton excavator will be arriving shortly to catch up on lost tonnage movement during hiatus.
Still on track to be within the upper cost and lower production guidance.
Newly installed Pebble crusher is already improving plant operations.
Major Hwy will be reopened from early to mid-May.
Hwy repairs while not significant will still cost GOR a few million.
Mining operations re-started about 10 days ago and will continue to ramp up.
Big production and cashflow improvements expected in H2 CY24.