Hey Bull, I am going to be boring again and stress that SL wants his 18m shares (1.8% of the company).... because he wants to be running this company for a long time to come, or at least, until the plant spits out it's first 150k p.a. (I will leave the debate about the number of shares along).
I just think he is reiterating what we post on HC day in and day out. GCY is cheap. GCY just discovered a high grade lode beside an almost new plant etc.
BUT..... slide 5 does give me pause as to his true intentions... consolidation? I mean MGV is almost gone... when I think consolidation I think... merger with RMS/WGX?
@CashedUpBogun - I also noticed that. Quite a bold statement, considering that implies they will mine 100% of the current MRE around the plant.
Why the are not including Melville is interesting, but... not surprising as the 'team' are saying permits & studies are ongoing at Melville... basically holding their cards close to their chest, which is fair enough, as if they find a second Never Never, they may not need Melville in the first 5 years (if ever).
Though if you divide the 16.7 by a lower throughput rate of 1.6mtpa, I get 10.4, which... if you convert say, 60-65% to reserves, gives you a 6 year mine life (still work to be done on how this might match the reality of a mine plan).
This slide is a little confusing.... Plan A, fine... makes sense.
Even the options make sense, but.... what is Plan B?
I struggle a little with the regional consolidation and processing hub... I thought MGV was basically it... unless WGX is actually open to toll treating ore from say, Big Bell or Great Fingall?
It also mentions a 'new high-grade exploration target'.... to be released soon? I will assume next month when the drill rig focus' on Never Never again?
Slide 11 is great, though of course I am greedy and want more meat on the bone about the targets and progress. Are these the prospects to the North, but excluding Arc?
Then have drilling restarting on NN next month. Soo.. want more info on all of this, though obviously they have to undertake the planning before being able to share where the drill holes are going. Very interesting that there may even be another high grade area beneath the main Gilbey's pit. Perhaps... under Plymouth/Sly Fox? Or at Gilbey's South? Again, looking forward to seeing what the SAM highlighted.
Small slippage in the permitting timeline, I think they had hoped for July.
I get the feeling that... whilst the decline is important and needed (to be done in tandem), they have realised/decided that whilst the drilling costs are going to be high, they cannot stop drilling deeper at Never Never (to be clear, Never Never is not that deep yet, WGX recently drilled from surface at lengths of almost 1.5km).
Anyone get to go alone and speak to SL?
(20min delay)