@fitnfamThey drew down nearly 8 million dollars-worth of...

@fitnfam
They drew down nearly 8 million dollars-worth of stockpiles (118,904t) in the Murchison region over the September quarter.





I've done a complete back flip on whether WGX should purchase GCY after looking at that GMD/DCN study.

For arguments sake, at a 50 million purchase price, the GCY purchase would pay for itself in less than 18 months when calculating the processing of just 100% BB stockpiles (4,324,000oz).







Big Bell to Dalgaranga Processing Plant (point to point 66km)


Big Bell to Tuckabianna Processing Plant (point to point 50km)




Toll charge per km 15c per ton
Processing cost $22 per ton
Stockpiles BB 4,324,000 tons at .79gt



Haulage = (4,324,000 * .15c) * 66km = $42,807,600
Processing = (4,324,000 * $22) = $95,128,000
General and Administrative (4,324,000 * $5) = $21,620,000
Total = $159,555,600

Revenue 109,000 oz * $2,600 per oz = $283,400,000

Revenue - Haulage/Processing ($283,400,000 - $137,935,600) = $123,844,400

No brainer acquisition, even after considering this total still needs to remove capex for a (point to point) haulage road.

Add higher grade UG ore and this gets even more appealing!

I'm willing to bet they will put an offer in within the next week or two.