News: NWH NRW Holdings To Support Gascoyne Resources With $12 Mln Loan Facility, page-28

Hi Sabine ...

The December 2018 quarterly will probably not shed much light on the quarterly production.  We already have Oct18( 4898 oz audited), Nov18 (5878 oz audited) and Dec18 (to 20Dec 4245 oz unaudited with my estimate of 7295 oz for the month) giving a total of 18071 oz for the quarter, at the upper end of the 17-18,000 oz guidance.  But the average daily production rate for the last 12 days will be of interest, as the plant should be humming with the new grates ...... assuming it holds up over the Xmas break!

However, the cost of producing that gold will be of more interest.  I would imagine GCY is throwing everything including the kitchen sink at the project during the month of December.  There is much discussion at GCY about the high strip ratios, whether these costs should be amortized or expensed and the impact on cashflow.