@Greatone apologies in advance as I can't give you a short form...

@Greatone apologies in advance as I can't give you a short form response:

Absolutely not financial advice but the recent $2 drop in share price has been IMO a boxing day special on steroids (not as good as my buying between 70 cents and $1.30 however a lot has changed to de risk averaging up in CYL)

On the macro: gold is stubbornly high over US$3,300; AUD/USD is allowing for greater cash flow in AUD$, Major banks (excluding Citigroup) predicating POG >USD$4000 end of 2025, BIS BASEL III tier 1 status for gold 1^stJuly 2025, global debt increasing >$314 trillion, central banks still buying gold, USD$7 trillion to refinance by sept 2025 etc

On the CYL micro: stronger balance sheet, no hedge, increased over $120m in sunk infrastructure costs for the price of $32m whilst logistically securing a more productive mine (old highway), all pre native title, mining permits secured, free cash flow rapidly moving to AUD$3000 per oz!!!!

The fundamentals (and it’s all about the fundamentals). I wrote this piece many months ago. I have just updated it:

1.Au resource of over 1.1 million oz with the potential to raise to near term upgrade of 1.5 to 2 million oz, especially attractive would be the knowledge that any previous exploration has been less than 100m in depth with only 4% of the land entitlements explored. (>100m RESULTS STILL COMING IN. JORC UPGRADE LATE 2025)

2.All have existing pre native title. (NOW SECURED WITH MINING PERMITS)

3.Approaching 200,000 au/oz annual production 2027

4.Potential cash reserves of $200m by end of 2025 (ADD $150M CR JUST COMPLETED)

5.Continued reduction in AISC (CLOSER TO AUD$2200)

6.NO debt, no hedging, clean balance sheet. (ENHANCED B/S

7.>$500m sunk infrastructure costs with a replacement value >$700m

8.All moving and digging equipment standardise on attractive long term maintenance contracts

9.A Henty mine that is profitable or sold. (SOLD AND RELACED WITH A MORE PRODUCTIVE MINE ‘OLD HIGHWAY’ WITH AN ALL-WEATHER AERO STRIP SERVING ALL OF MARYMIA)

10.Massive Bendigo and JV assets probable green light with a change of government in 2026 (PROCESSING FACILITY SECURED AT MALDON)

11.Potential future rare earth and copper discoveries in Marymia

As stated earlier be careful trading (selling) to the 30^thJune as we have seen block trades, repositioning and rebalancing of gold index(s), EOF year tax transactions and the now debunked rumour that James is selling his shares (in detail on previous posts), 4 stockbrokers recommending ‘BUY’ with >$7 target price by end of 2025.

So today is my last fill at around $5.20 I now have over 30% of my total portfolio in CYL (Ballard Mining pre-IPO being my only other gold play).

Please DYOR as I could be totally wrong.