RE: The fact that they have not been able to The problems with the flotation circuit at Maria Dama, because of too HIGH grades from the artisanal miners will be solved and then the cash costs as well as the thoughput will increase.
IMO the reason, why the loan facility has not been fixed, is very simple:
100M for a bank is not peanuts for a bank (you know: if you have debt of 10k, it's your problem - if you have 10M debt, it's the bank's problem).
Therefore as long as the bank(s) don't see, that the cashflow from Segovia is consistently higher and the margin/cash costs are not sinking, they will hesitate to borrow 100M into the expansion of that project.
To me this is logical, and there is no need for you as shorter to make cryptic posts all the time, as if some dark hidden problems would be there.
Do the simple math, what the reduction of cashcosts and the production increase will do.
The current evaluation of GCM mostly reflects disappointment. But everyone here knows, that a MK of 114M C$ for a 12M + 5M Oz producer has to vanish, as soon as this producer reaches consistently the break even.
GCM is currently valued already below 10$/Oz Au and at the bottom of turning. You must be absolutely crazy to short such a stock. The times to short stocks is, when they are high, not when they are low.