Australia's largest stock trading and investment forum Australia's #1 stock forum

GCY

Click for more information

1.82%

54.0¢ gascoyne resources limited

I sold half of mine . There are too many opportunities elsewhere...

First 4 Last

Share
Profile

Follow
sabine

5,305 Posts.

459

29/10/18

12:18

Post #: 36296675
Share

Originally posted by xdfeng ↑

Next quarter cash outflows estimated at $42 mil.

At 1700 aud/oz gold:
19000 oz: 9.7 mil loss
22000 oz: 4.6 mil loss

At 1750 aud/oz gold:
19000 oz: 8.8 mil loss
22000 oz: 3.5 mil loss

1800 aud/oz
19000 oz: 7.8 mil loss
22000 oz: 2.4 mil loss

You'd need 1900 aud/oz to breakeven at 22000 oz production. And this is at nameplate capacity. Even if we assume 1750 aud/oz for the next quarter, cash on hand is only 18 mil. That leaves us with only 2 more quarters until GCY shuts everything down!

And considering that next quarter exploration is only 100k there doesnt seem to me a magical discovery that'll rescue GCY.

I was hoping for good news, but GCY unfortunately doesnt seem to be going that way soon. Unfortunately I had to sell off after these results today.

Expand

I sold half of mine . There are too many opportunities elsewhere and I’ve been mired here too long and should have listened to those wiser months ago.
Best wishes to everybody

GCY Price at posting: 14.5¢ Sentiment: Buy Disclosure: Held
6 Upvote

0 Great analysis

Reply

Top Stories

Quit before you're fired: Russia bans uranium exports to USA, duplicating extant US ban

US election outcomes: Key economic and market takeaways

BTH

Bigtincan's Board backs Investcorp offer: Why a NASDAQ listing could be game-changing

PNN

Power gets set for 1000-metre maiden drilling program in Brazil

GRL

To make modern missiles, you need 3D Printing. And in that gold rush, Amaero is selling shovels

There are more pages in this discussion • 11 more messages in this thread...

First 4 Last

Add GCY (ASX) to my watchlist