Nice, thanks NK. Very very happy to hear 3 years (that is...

Nice, thanks NK.
Very very happy to hear 3 years (that is assuming they have no more success with the drill bit.
I really hope they are able to run the numbers and provide a clearer picture of just how important this is and the extra reduction in costs it will bring to GCY. Would love to see the ASIC drop to below $900 for the first couple of years.

9 Banks, very nice. I will assume they end up with some sort of consortium for the debt facility. Hopefully the debt will require very little hedging, as I really do see the POG going north for the next couple of years.

Also very happy about the EPC. Allows GCY to focus on drilling, which, sadly the market seems to have almost forgotten that they discovered Glenburgh and found 1m ounces... Not many discoveries like that in Australia full stop. Which in turn adds to the excitement for them finally being able to drill Glenburgh property. Is it 10km+ trend so far?

To quote mike back in 2015 - Glenburgh contains a joint resource of over a million ounces. We’ve already completed a prefeasibility study on that and it’s got over four years of life at 73,000 ounces per annum so far, and costs of under $1,000 an ounce. So very economic, but that’s only the start as well. That project will become a multimillion-ounce system. It’s just a matter of putting the exploration dollars into the ground, to really see that exploration potential evaluated fully.
Gascoyne Resources : talks project pipeline 2015

Very interesting about costs have dropped a lot. If they only build a 1.5mtpa plant, then it may only cost perhaps $40m.

Will be attempting to get what I can in the SPP.