$10m of the raised funds were for Corporate action. Another quarter or two of cost shedding and cash build leaves them ready for another play IMHO.
By then GCY will either be in utter shareholder depression when the drill hype at depths wears off and ready for picking just as WGX milled grade will be ready to shift up in grade or yield or both as plants continued to be fine tuned.
There are other operators in the area and a joining of equals and rationalisation of feed for boosted overall ounces could be an option.
I would prefer $200 cost drop per ounce to a 10% increases in ounces unless that's by improved yield which I am expecting to see anyway.
DYOR+DYODD Gold recovery slowly improving along with milled tons.plus 10% increase in Fortnum with new crusher,maybe more.
WGX Price at posting:
80.0¢ Sentiment: Buy Disclosure: Held
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