Buyers circling as Gascoyne's administrators get to work

THE bittersweet good news for shareholders of the debacle that is Gascoyne Resources is the current strong gold price which, if sustained, clearly increases their chances of salvaging something from the wreckage.

Buyers circling as Gascoyne's administrators get to work Buyers circling as Gascoyne's administrators get to work Buyers circling as Gascoyne's administrators get to work Buyers circling as Gascoyne's administrators get to work Buyers circling as Gascoyne's administrators get to work

Dalgaranga plant in Western Australia

Administrators of Gascoyne said given the high gold price - which today was at A$1950 per ounce - they "currently anticipate being able to trade the group's operations on a break even or better basis,