Investors and arb funds are tipping for more M&A action at WA gold junior Gascoyne Resources after it struck a big discovery at its Dalgaranga project on Tuesday.
A action at WA gold junior Gascoyne Resources after it struck a big discovery at its Dalgaranga project on Tuesday.Gascoyne said it had hit 12.5 grams of gold per ton across 59 metres, of which 13 metres contained a really high grade of 51.1 grams per ton.
Westgold could also decide to have another go, while it would also make sense for the $1.5 billion Capricorn Metals to take a look. Tuesday’s hits add to Gascoyne’s list of things that have drawn out suitors on the past: its value is hovering around the $100 million mark, it seems to have a good resource and a mill for processing.
As an example, Westgold Resources spends about $32 to process a ton, followed by Ramelius at about $25. Gascoyne’s way lower, at $14 a ton processing cost.