Targeting Near Term 100,000ozpa with
Organic Growth Towards 200,000ozpa
High Margin, Low-Capex Gold Developments
+2 Moz Gold Resources in WA…and Growing
2.1Moz 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
Targeting near-term production of +100,000ozpa initially, with clear pathway towards 200,000ozpa through organic growth
One of the few ASX-listed independent gold developers in a rapidly consolidating sector
~20% owned by Board and management
Very low corporate overheads
Strong re-rating potential (which is underway) with an enterprise value of around $56 million
EV/Ounce of
Initial High Priority Exploration Drilling at Dalgaranga discovered NEW mineralisation
FUNDED for PFS and significant exploration effort in the coming months
Major Shareholders
Yandal Investments, 1.3%
Capital Structure (ASX:GCY) | |
Shares on issue | 206,250,577 |
Options on issue (ex 25 & 26c) | 4,400,000 |
Market Capitalisation (at $0.28) | $58 million |
Cash (December 2015) | $2.2 million |
Debt | Nil |
Enterprise Value | $56 million |
National Nominees, 6.6%
Citicorp Nominees, 7.1%
JP Morgan Asset Mgt, 9.4%
Board and
Management, 20.0%
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
Re-Rating Underway
Research Coverage | |
Hartleys | Scott Williamson |
Evans & Partners | Cathy Moises |
Argonaut | Patrick Chang |
On Increased Volume
Re-rating underway..... but a long way to goAverage >300,000oz Producers
~A$3,500
X 7 Uplift
Average
~A$1,800
X 2.5 Uplift
Average Developers
~A$820
Note: Developers production is based on published targets, Production for producers based on upper end guidance, EV = Market Cap (1st March 2016) + debt - cash 4
Gascoyne Resources Ltd. issued this content on 07 March 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 06 March 2016 22:07:29 UTC
Original Document: http://www.gascoyneresources.com.au/assets/Uploads/160307-GCY-European-Investor-Presentation-Final.pdf