Ann: December 2018 Quarterly Activities and Cash Flow Report, page-36

Hi Davi,
basically, while you are totally correct, mill throughput is below expectations for Jan, actual ore mined was at 0.9g/t, for 5,144 ounces, so... all that ore is still to be fed to a plant that is actually processing at 3mtpa. So with the extra excavator and staff hired actual processed ore quantities is going to increase dramatically. They do indeed need to be careful with the stockpiles, to ensure they don't need to slow the plant down.
Costs this quarter are being provided to the market honestly. Higher... because they will be relying on some low grade stockpiles.
This will hopefully end by June, with lower strip ratio's and higher grade ore being more available to feed the hungry plant. 
It is such a shame that golden wings has been such a let down (I have stronger things to say, but... best I keep this polite). 
It was supposed to be the sweetener to pay for this high stripping, but instead.. damn. 

Basically, the plant is processing around 220-250k per month, if this was all even at just a grade of 0.9g/t at a recovery rate of 92%, they would be producing around 6680 ounces a month. This is still well below what they were expecting for the first 2 years, but... it is what it is.
At that rate, the AISC would be high, but they would be profitable. Sadly, due to the change in mine plan, they are having to strip more from Gilbey's early on, which is why the extra $250-300 per ounce of costs comes from this year.

Anyway, I think if GCY was offered some decent script and the suitor had a big pile of cash to pay of the loan, well, someone would be getting 2m ounces in resource, around 550k in reserves, a $100m plant, $40m spent on pre-production and stripping, $50m spent on exploration and probably little competition. 

However, if POG in AUD holds up and GCY is able to get over the stripping hump (which I think it will, but it won't be pretty, but then, at least its still being open and honest, unlike perhaps.. BLK... for example), then... it still has 6 years of reserves (at approx 80-90k p.a) just from Gilbey's South.