Hey Tubs, welcome and while its been said many times on HC, I think you have tipped your toe in at the right time. Another poster on HC recently mentioned that in the end, the big end of town only care about one thing, cash flow generation, everything else is noise. GCYs had a great run in their development stage, but has now come back to reality, where it must prove itself.
Todays presentation is extremely interesting, as it implies they produced around 2500 ounces in the last 2 weeks of production, which, if you multiple that that forward, implies they will indeed be able to achieve their 25,000 ounce dec quarter. Grade must be increasing which bodes well for grade reconciliation and what they expected to occur.
Although I will take it all with a grain of salt until the quarterly comes out with the specific numbers.
@donjdrumf - while I am also surprised at the 12,700 figure, as above, grades are supposed to be increasing. As for cash burn this quarter. The raising was partly done to pay for approx $7m in dev and final payments etc. Add on that they only produced half of what they needed to declare commercial production, and I think the cash burn will be around $12-15m. So they will hopefully end up with just over $20m. Famous last words...
