cash is king

GGy's directors may have made an inspired choice. They may have been told by KZL that a takeover was not possible.

In order to maximise the return on the Maitland project would have involved a large infrastructure expenditure.

22,000 Tonnes returning a gross of $88 million may have been uneconomic to mine and process for a small return.

Now the company is well funded to expand its gold resources in WA and Qld.

Seems a rational decision to me.