Hi LJSM ... Over at GCY it’s not quite time to shut shop or...

Hi LJSM ...
Over at GCY it’s not quite time to shut shop or deploy units elsewhere ?
As I read this ‘business as usual’ means they will keep running Dalgaranga but it’s no longer able to function as a public company because it’s run out of money.
......But the gold is there - in fact just as much as they said ? (Not a Big Foot or Walpole panther after all? )
Only the AISC estimates were completely up the creek. https://hotcopper.com.au/documentdownload?id=uOMxKKzFkiWRTLKhOROKAxjvTDYD4Ay5yxiZp/Rgke92GA== - so they are looking for a new funding source ...maybe Wilhelm Zours (37948761) will step up to ‘the (gold) plate’, as the last capital raising actually had a clause to STOP his entities getting into a position where they could take control of GCY ?

Here’s some relevant bits from GCY’s explanation:

...Strategy moving forward
The Administrators at this stage intend to continue operating GCY on a ‘business as usual’ basis while recapitalisation options are explored.
The Administrators will work closely with GCY employees, suppliers, secured lenders and customers to quickly stabilise operations and preserve value for stakeholders.....


Earlier in that announcement:

.....On 28 May 2019, a new preliminary unclassified Localised Uniform Conditioning (LUC) resource model for the Gilbeys deposit produced by GCY’s resource consultants was recommended to the Board as the preferred model from several that had been developed.
The new model, although supporting the global gold inventory, defines a higher tonnage lower grade deposit than previous resource models.
On the basis of the new LUC model, and urgently prepared pit mining schedules based on the new model, high level cash flow analysis indicates that due to lower predicted grades, particularly in the next 6 months, GCY will incur a material cash flow shortfall in the short term.....