While the share price is disappointing, I feel some perspective can be helpful. While the fall from $0.60 to $0.30 was brutal, the company is now comfortably funded (assuming the ramp-up meets expectations). Many other gold stocks have fallen back by quite a lot, EAR for example is down almost 70%. MML - 55%. PNR - 50%. Etc.
I have little doubt that if the company could announce commercial production they would, but they have been fairly clear that it will most likely be hit at the end of the quarter, or at the start of the Dec quarter.
As for the drill results, as I understand it, results are slow to come in W.A full stop. Still, I think we will get an update of some sort, even just drill results near the end of the week, to give some small impetious to the share price in order to help the SPP. Although, funnily enough, I can 100% guarantee, that if not $1 gets put into the SPP by current holders, GCY will be able to place the $5m to instos (its what happened last time).
For what its worth, I would be putting more in if I could, but... no more capital. I can only hope (leaves a bad taste saying that word) that the next raising (whenever), will be more like the one where they raised $55m when the sector was running hot.
I can only give an example of where if I had been a little more patient, and had my eyes open, I would have been a buyer of SAR, when its market cap was just $140m, they had a plant and some gold... now... well, they have done well simply by being professional and hitting targets. GCY, potentially could emulate them, as they do have a second project etc. Its hard to be patient when you see the likes of NST moving ever higher, but then, they basically deserve it, because they are making real money and raising when they want, not when the need to.
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