As the thread title says - GCY is cheap on all metrics. Someone...

As the thread title says - GCY is cheap on all metrics. Someone is pushing the price down, creating a good opportunity to nibble some shares. I topped up when it dipped today, with plenty of supply below 32c (which I'm sure will disappear before the closing time).

I don't think there will be another WGX takeover offer, especially not low-ball at ~ 40c. Merged GCY+FFR are much bigger fish now, and Westgold just don't have a capacity to swallow it - and they were pushing above their weigh in the first place, hence the scrip offer (as they don't have much cash).

If another takeover comes, it will be likely from more serious players in the neighborhood like Ramelius or Silver Lake Resources, or somebody else that needs a plant. RMS and SLR were wise enough to stay on the side during WGX's amateurish takeover attempt, when it was (almost) obvious that merger provisions inserted by FFR would make the merger almost a certainty, and that WGX was just wasting everyone's time.

I'm not in GCY for ~ 50% short-term gains with possible takeover (I wouldn't refuse that option though ), but more for longer perspective that it will be a ~ 5-bagger in a few years' time. If Melville turns out to be a good feed for the plant, profit will provide funds for more exploration, and considering what is might be in the ground out there, they might get really lucky.