GCY Fate and a likely outcome, page-19

Don't stress Dim, I would forget about those estimates. Look at what the market valued it at. Work out the market cap of the merged entity by combining FFR and GCY's average market caps for the 2 months before WGX came on the scene and then take away 5 million for the Firetail spinoff.
GCY at 31c had a market cap of 77 million
FFR at 12.5c had market cap of 38.5 million
Total Market Cap 115.5 million
Minus Firetail 5 million
Total Market Cap 110.5 million
$110,500,000 / 371,000,000 = 30c
Can't see the price falling below 30c, however with sentiment the way it is, anything is possible.
Net cash has since risen by 7 million and cashflow will be 40 million higher this FY with the delayed stripping cost as per the mine plan adjustment.
All this should add short term value so my guess is anything in the 20c is very unlikely to stay there for very long. I see any price below 35c as an excellent medium term buying opportunity. The 40c range looks more likely than the 20c range by years end.
Time will tell...