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GYMPIE is no BLYMPIE

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Creator Hectorp Created 26 Jun 2003 Posts 23 Last Post 20 years ago
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OK cringe at the new thread title!

Been out of play for a few months, this needs reviving.
Gympie is starting to be worth a look for around 5 good reasons:
1 gold price: this is producing 40-50K oz and this will expand.
2 coal mine stable and rising output
of high quality anthracite type furnace coals:
3 the expanding core gold assets and potential in 'several one million oz resources' ( quote from recent RNS) and
4 last week, the 25% shareholding in nearby Aguila mining ( gold exploration play).
While there has recently been a dilution of share value due to an oversubscribed fund raising,
5 there has also been director buying: the company is progressing its gold exploration though I feel they do so slowly, but steadily, and they are short of 10K oz output a month at the moment thats more than balanced by the coal mine output.
Could Gympie give the lie to the addage that mixing coal and gold mining doesnt work?
I feel the shares are worth a closer look around 17p and the fall due to coal output and some dilution is now in the price. Lets move forward.