RE:RE:Tomorrow the new gcm.zijin could not make a successful bid because gcm held 20% shares of goldx and goldx management hold a large % of shares. that is already over 25%. there was no way zijin could get 75% vote without management consent.
now that the merger is done, what are the chances of making a deal with zijin?
from the guy report,
https://www.newswire.ca/news-releases/guyana-goldfields-inc-announces-updated-mineral-reserves-and-resources-estimate-and-life-of-mine-plan-816918459.html they are transitioning to 100% underground.
"The processing circuit has a capacity of 7,500 tpd when treating mixed saprolite and hard rock. With 100% hard rock, the mill throughput in the LOM plan has been capped at 6,500 tpd based on our current experience processing 100% hard rock in the mill."
their throughput is lower with only underground hard rock.
they can increase their throughput using open pit ore from gcm Toroparu.
they can expand their plant capacity to 10,000 tpd, feed in part underground and part Toroparu open pit and both companies make more money. zijin mine life is extended with the extra ore, and gcm gets cashflow a lot faster without spending much cash building a new processing plant.
get a deal done!