I bought back into GCY when it crashed to low 30's. The FFR...

I bought back into GCY when it crashed to low 30's. The FFR resource is in fact very valuable which is why i bought in. The remaining GCY reserves are marginal at prices below AUS$2000 based on the latest updated business plan. FFR on the other hand can be mined at AISC around $1000 given the grade and strip ratio . That is why GCY shareholders had to accept the big dilution. 100,000 ounces at $1000 AISC is worth as much as 400,000 ounces at $2000 AISC .at 2400 gold

The merger with WGX makes more sense long term especially given the ability to develop Glenburgh which is why the big holders have accepted the deal

I bought into FFR now the merger is off. It has a very high quality resource and there will be more M& A action in the future.

GCY holders are getting WGX scrip at the bottom of the gold equity cycle. Once gold punches through US2000 WGX will rally past 2.50 and everyone will be smiling. FFR will rally past 15c and more depending on further exploration success