GCY 1.82% 54.0¢ gascoyne resources limited

Look at the Monthly Chart of GCY before you sell !, page-41

  1. 46 Posts.
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    Putting aside the very bad effect Ian Murray's resignation had on the share prIce, you're rIght about the company needing to please the market wIth some solId productIon numbers from December onwards. The new B&M are definitely errIng on conservatIve forecastIng now leavIng more room to surprIse the market on the upsIde. All problems have been disclosed warts and all and it's not all that bad. It should be full steam with the grates replaced and higher grade being better accessible now. We know the plant can operate 50% above nameplate capacity which is impressive. The extra drilling in existing pits will give more certainty of what's there plus by January we'll have some assay results from further exploration at the Tanqueray tenement which could be bonanza grades given what they've found already there with grades over 1000g. That's the roller coaster of mining and these plant teething problems are normal, but just extra nerve racking as it's the first one for the company. December should turn cash positive then the bank balance will start to build. Once Dalgaranga is humming with an extended mine life from new finds(there's a massive area unexplored all around the plant) and then there's the company's second site Glenburgh with 1moz to develop. Glenburgh alone is worth 12c a share based on other stock price valuations of similar assets. Anyway...., onward and upward!!
 
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Currently unlisted public company.

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