Hey Steve If or when AUD gold price pushes through $2500 GCY share price automatically becomes more sensitive to the gold price. Each $100 gold move there after would equate to between 4 and 8 million profit added to their bottom line. At $3000 GCY's annual profit would be well over half it's current EV. Not a great deal of downside when considering if all GCY's assets were sold at market prices, the value would be close to or even higher than their current Market Cap. With plenty of potentially positive news feed to come from the millions invested in resource drilling late in the current quarter for GCY and FFR, the risk reward ratio makes GCY look like one of the best leveraged gold price plays in the Australian gold miners sector IMO.
GCY Price at posting:
33.0¢ Sentiment: Buy Disclosure: Held
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