Ann: Corporate Update , page-11

The gold price has hardly anything to do with the closure of Coyote, it just proved a convenient coincidence as they can use it as an excuse to make Kavanagh sound better than what it is.
How they could possible - even if it is after restructuring etc in the future - mine that more profitably than the Gonzalez lode is beyond me. After all, it is the same stuff, same rock, same mill, same width, same grade as Gonzales, which they had an unprofitable crack at for all these years, only deeper.

Groundrush is their main asset, but clearly not that good either, otherwise they wouldn't have delayed this feasibility study for such a long time (over two years!). Either way, with a current market cap of 70 mil, Groundrush still seems rather expensive for an outright takeover for that alone (I'm throwing in an uneconomic mine free here, forgive me the simplification).
I am guessing they'll max out their new loan (after all the closure-dust settles), attempt to prove up Kavanagh, sell Coyote and use the proceedings to advance Groundrush. That seems the only way if they want to get at it alone, and should have been done years ago. The alternative? Let it slide a little more, max out the loan, go properly broke, and hand over to Hong Kong.

My thoughts only. I may have to check in again in another year and see what has eventuated.