GCY doesn't need MGV. Already have a high grade resource with high recovery rates, but we have a plant and a relatively de-risked operation at a cheaper valuation in addition to that. Only thing MGV has going for it is that the open pit should be quite economical, hasn't been converted to a reserve though so its still a gamble to buy MGV at this price point, especially considering WGX is already mill constrained... this situation could result in a stranded uneconomical asset worst case scenario if the drilling was hitting nuggets the whole time..
MGV Price at posting:
29.5¢ Sentiment: None Disclosure: Not Held
