Ann: Trading Halt, page-34

Alb - its not the first two years, when you considering that they have only been producing gold for 2 months which is still just part of ramping up, it will likely take another 6-10 weeks to finally hit commercial production when they are using lower grade ore. DCN is projecting to take 9 months to ramp up their mill to commercial production, so 6-7 months for GCY is about right, although the Dec quarter should see GCY clear about $9m, with 2019 clearing around $43m. The first 1-2 years were always going to be slightly higher AISC because of the stripping required. As the years go by, the AISC will get lower and lower, down around $900 AUD in year 4-5 I think, although by then the mine plan will be different with more ore being added from discoveries.

I am hopeful that the drilling so far has already proved that the mill can most likely be fed at the higher rate of 3mtpa, with infill drilling pushing it into reserves in months/years to come.

Would be nice to have some extra special hits, but... then... too late for the capital raising.