GCY 1.82% 54.0¢ gascoyne resources limited

No capital raising and 30 days production.

  1. 273 Posts.
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    As the CFO/acting CEO said at the AGM there is No solvency issue!! that won't come until end of first Q next year IF BIG IF they still can't get this thing running properly. For this months its just about production and grade. We know they have run the mil at 3.5-3.6mtpa with the soft ore and we know that after 40 000 meters of drilling that the gold is there. So they just need to get clean ore from the pits into the mill and the gold out.When you talk to eastablished miners they will say '' None of these problems are terminal, non of these problems are things we haven't seen before so WHY THE PANIC!! iTS JUST NORMAL RAMP UP ISSUES.

    The problem comes form all the earlier dissapointments and basic errors. If these guys don't have a good December and turn this around you can bet there are plenty of bigger boys with a balance sheet thinking . We will have the $150m of Capex spent , take the company over get a mine, plant, camp, Huge exploration upside next to the mill (just look at SAR finding gold close to the mill) oh and by the way we get Glenburgh for free.!! The banks will also know this so will be happy for these guys to turn it around!!

 
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Currently unlisted public company.

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