GCY 1.82% 54.0¢ gascoyne resources limited

Ann: Gold Grades up to 27.2 g/t Intersected at Glenburgh, page-13

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  1. 5,305 Posts.
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    I am still looking at who has been involved in assessing the Gascoyne data.
    As I know nothing of mines I want to have confidence in people who do know and I want to understand who is who, and who did ‘what’ when .
    It seems to me something very bad has gone wrong at Gascoyne .... the issues to do with the mill gate and the weather are one thing but the lower than expected grades means that somehow through report after report, through tens of millions of dollars of raised funds, the building of a 200 man camp, airstrip and all the rest there was no proper confirmation of essential data. (Which seems impossible.)
    Not until it was almost too late .
    If the price of gold had not gone up and contractor, NRW stepped up to the plate with the December $12 million loan, Gascoyne would likely be finished.
    Yet the people involved are professionals who present as honest and competent.

    In regards competency :

    The 2017 GCY Annual Report notes competent persons who have assessed Gascoyne’s resources are:
    upload_2019-1-13_14-17-35.jpeg

    For the Dalgaranga mineral resources : RungePincockMinarco - a highly regarded global consultancy.
    RPM references the GCY 07/08/17 announcement “DALGARANGA GOLD PROJECT – SLY FOX RESOURCE AND EXPLORATION UPDATE” here (in which it is noted RPM’s Shaun Searle personally supervised all data collection for the Sly Fox deposit .
    In this update’s competent persons statement it is noted all drilling and exploration data on Dalgaranga was compiled by Gascoyne’s s Chief Geologist, Julian Goldsworthy.)https://www.bloomberg.com/research/stocks/people/person.asp?personId=49855490&privcapId=78916554

    (NB :The Hot Copper thread resulting to the Sly Fox update announcement is well worth revisiting :https://hotcopper.com.au/threads/ann-sly-fox-resource-and-exploration-update.3592302/#.XDp_oBo_Xmq with comparisons between Dacian, Regis and Gascoyne by @eshmun and @speculator101)

    In the 2017 annual report the Dalgaranga ore reserve estimate is attributed to Harry Warries, principal of Mining Focus https://au.linkedin.com/in/harry-warries-27787a2a
    He cites the 21/06/17 announcement; “Dalgaranga Gold Project Development Update*” (here). I presume this means he based his information on findings contained within this announcement ?
    (*FWIW the competent persons listed in this update are RPM - now directly referencing the work of Elemental Geology along with old Equigold data as per the 24/07/14 “HIGH GRADE DOMAINS WITHIN UPDATED GLENBURGH MINERA! RESOURCE” see here
    ...And the ore reserve was estimated by CSA Global an external consultancy )
    Last edited by sabine: 13/01/19
 
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