Not sure if anyone is following this little specy but it jumped up 6cents to 16.5
hitting a daily high of 18cents.
Small gold deposit in the gascoyne area of 360k oz with many projects and great upside.
current market cap arround 6million i believe.
.
The drilling intersected: 8m @ 373.5 g/t gold from 53 metres including 3m @ 987 g/t from 53 metres.
Yep ….. One vein is not going to get the Market going crazy the way Gold is being traded at the moment ….. If they happen to duplicate that vein either width or depth wise, it will definitely create some interest though.froth and day trade excitement - went as quick as they came. SPP is concluding ..... and take up rates as yet unknown (ann did not hurt you would think).
General gold sentiment maybe getting better, but site details are scant at this vital point after the raise debacle (they all seem to be lately)
froth and day trade excitement - went as quick as they came. SPP is concluding ..... and take up rates as yet unknown (ann did not hurt you would think).
General gold sentiment maybe getting better, but site details are scant at this vital point after the raise debacle (they all seem to be lately)
[Mark] Rowsthorn and his business partners – the world's biggest asset manager and an obscure Sydney financier – executed a [...] plan to get Gascoyne: for an upfront cost of $308,476.50. The men secured control of a slice of Gascoyne debt, hired a top commercial barrister and tried to convince a judge to liquidate the business.
They failed. But the struggle over the Dalgaranga gold mine demonstrates how the federal legal system, often notoriously slow at resolving commercial disputes, can move remarkably quickly when a judge recognises that the capital markets won't wait for justice ....
02 July 2019, Gascoyne in administrationIn late 2018 and early 2019, Gascoyne raised $40 million to finish building the mine, which started production in May 2018. The company predicted it would produce more than 100,000 ounces of gold over six years. As results of the digging arrived last May, Gascoyne's geologists realised they had made a huge mistake. There wasn't as much gold under the reddish dirt as their geological models had predicted.....
then by 18 June, this year, administrators FTI asked the company's creditors to approve a deed of company arrangement that it said could lead to a full refund for everyone owed money. Investors put in new debt, bank loans reduced to manageable levels, and relist.Meanwhile, business was looking up at Dalgaranga. The FTI administrators had decided to spend some $10 million speeding up the removal of earth from a wall in the mine's main pit. For two months, 12 hours a day, miners blasted and used excavators to move dirt blocking the gold seam. The expensive punt worked. For five months in a row, more than 6000 ounces emerged from the mine, where it was smelted into bars and flown to Perth from the mine's airstrip. It wasn't as much as the 9000 ounces forecast a year earlier, but was better than 2019's 5139 monthly average.....
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