I will be happy if GXY announces that the plant is in production in the next week and if at least 15 to 20 kt of ore are trucked to Port Esperance by the end of December.
An announcement that production has commenced will be well received but IMO will not cause a surge in SP. However, it will put the company in a good position to negotiate a price significantly higher than $600/t for the 2017 ore sale contracts. This hopefully will be announced this quarter and that should result in a significant rerate.
If the concentrate trucked to Esperance is not shipped out this year it will be in Jan. I don't see this as anything but a slight delay in shipping date. There is nothing magical about the 31st Dec.
GXY Price at posting:
33.0¢ Sentiment: Buy Disclosure: Held
