ASX:GCY
A Near Term +100,000ozpa Gold Developer
with Organic Growth Towards 200,000ozpa
High Margin, Low-Capex Gold Developments
+2 Moz Gold Resources in WA…and Growing
RIU Resources Round-up Presentation May 2016 Gascoyne - A Near Term High Margin Gold Developer2.1Moz of gold, across two robust gold projects on Granted Mining Leases in Western Australia, with very significant upside potential
▫ Dalgaranga Project: +1.05Moz Resource and growing. Near-term development opportunity with low capex and compelling project economics
▫ Glenburgh & Egerton Projects: +1Moz Resource and growing. Near-term development potential with robust economics - our second development project
Dalgaranga PFS highlights robust economics (NPV8 A$193, IRR 90%) , and low AISC (A$913/oz)
Targeting near-term HIGH MARGIN production of +125,000ozpa initially, with clear pathway towards 200,000ozpa through organic growth
One of the few ASX-listed independent gold developers in a rapidly consolidating sector
~15% owned by Board and management
Strong re-rating potential (which is underway) with an enterprise value of around $120 million
EV/Ounce of
Initial High Priority Exploration Drilling at Dalgaranga resulted in discovery of Hendricks including 12m @ 2.2 g/t gold to EOH and 18m @ 3.0 g/t gold to EOH
AGGRESSIVE EXPLORATION PROGRAM UNDERWAY: 3 Rigs currently on site
Capital Structure (ASX:GCY) | |
Shares on issue | 240,250,577 |
Options on issue (ex 26c) | 3,540,000 |
Market Capitalisation (at $0.55) | $132 million |
Cash (March 2016) | $12.7 million |
Debt | Nil |
Enterprise Value | $120 million |
Major Shareholders | |
Board and Management | 15.0% |
JPMorgan Nominees | 18.4% |
HSBC Nominees | 9.0% |
Citicorp Nominees | 8.8% |
National Nominees | 4.2% |
Board & Management Team with Proven Track Record | |
Mike Joyce | Non-Executive Chairman |
Mike Dunbar | Managing Director |
Non-Executive Directors | |
Gordon Dunbar | Graham Riley |
John den Dryver | Stan Macdonald |
Julian Goldsworthy | Geology Manager |
Recent Share Price Performance
Research Coverage | |
Hartleys | Scott Williamson |
Evans & Partners | Cathy Moises |
Argonaut | Patrick Chang |
3
Re-rating underway..... but more to goNote: Developers production is based on published targets, Production for producers based on upper end guidance, EV = Market Cap (10th May 2016) + debt - cash 4
Gascoyne Resources Ltd. published this content on 11 May 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 09 June 2016 08:29:02 UTC.
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