Anything is possible , the company has not let out any new info on what is happening at the mine , we do know grade and possibly tonnage were below expectations initially hence the sp halving , but just as one swallow does not mean spring has come , is it worth halving a company's cap because the first 3 months of a mine's 6 year mine life did not perform to expectation ?
Unless the company states it can not hit 25K ounces for the December quarter I am happy to hold at these prices .
I do feel the contractor could have been better prepared for mining , and it is partly due to the lack of preparation by them, plus presumably a lack of coordination with the grade control drilling team that the sp has been hammered , hopefully they can coordinate better going forward .
There now looks to be evidence of lodes running North of Gilbeys if further high grade ore is hit then I would not want to be a shorter of this .
GCY Price at posting:
27.8¢ Sentiment: Buy Disclosure: Held
