It is possible we are coming from an extremely ‘complex’...

It is possible we are coming from an extremely ‘complex’ position where just about everything has already gone wrong Davisite... from the two main pits not giving up the expected grades and needing to be ‘delayed’ while the problems were assessed and solutions found , to clear management strife (five executives out in around one year and that is NOT counting Ian Murray, weather issues , a key piece of the mill equipment getting clogged and whatever else ‘Murphy’ threw at the project including the fact that even without ANY of these problems it was expected to be hard going in the first two years because of the geology
It’s been a hard start up.
Meanwhile I hold shares in NRW, and over there posters see NRW as being a lifeline for Gascoyne ...and they don’t necessarily approve.


But NRW has an incredible reputation for sticking by its guns and doing what it says it will do .
And being clever !
CEO, Jules, Pemberton, reaffirmed support of Gascoyne publicly when he spoke at Diggers and Dealers in August . All the problemscwere in the table already I reckon. Now he has come through and put company money up where it is needed.
He would not have done this without full consideration of further complexities that might arise and the ones that have arisen being studied closely.


..to this ;Changes to the board including the new appointment of Mark Le Messurier, the fact Cube Consulting http://www.cubeconsulting.com/spent at least six weeks there in August and September assessing why the resource estimates had not been met and coming up with a methodology that would work, the new gate on the mill, the fact he knows what his teams are capable of, and more will have been part of his decision to keep going with Gascoyne.

Also while gold is hedged at $1710 an ounce on the $60 million loan with NAB and CBA, as I recall not all the gold was hedged .
In the announcement a review of the repayment profile is flagged .
Possibly this is in the hole that, as production ounces ramp up in the March quarter , Gascoyne can take advantage of the higher gold price and sell at market prices?
...”The first principal repayment for the Dalgaranga Project Finance Facility (A$1.6 million) is planned to be made as scheduled on 31 December 2018. The Company has made all interest payments required to date on schedule and continues to work closely with its Financiers National Australia Bank and Commonwealth Bank of Australia to review the facility repayment profile in advance of the next scheduled repayment on 31 March 2019.”