It said ore from Gilbey’s would keep the processing plant running at maximum capacity while an additional $4.5m had been reinvested into long-term infrastructure and other improvements.
The turnaround has also been aided by a surging gold price and an unfavourable hedging arrangement being closed out when the company collapsed, allowing Gascoyne to take advantage of a higher Australian dollar price for the precious metal.
72000OZ*US$1700 = 122 400 000
A$178 385 000
sounds nice!
Ann: Update Gascoyne Resources Limited, page-22
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