Firefly Resources

Firefly Resources Ltd is now part of Gascoyne Resources Ltd (ASX:GCY) after successfully being acquired. Pleasingly former Firefly MD Simon Lawson is now the MD of Gascoyne Resources and continues to lead a "disruptive" but systematic strategy of aggressive drilling, this time within close proximity to the 4yr old, 2.5Mtpa Dalgaranga gold processing plant, owned and operated by Gascoyne. Delivering a new "from surface" discovery 140m north of the existing Gilbey's open pit in the first drill program, now 350m+ long, 150m wide and 200m+ deep (so far!), the familiar active drilling approach continues to create newsflow and value for shareholders. Firefly motto was "We are geologists who drill, we disrupt old theories, and we find value." This motto continues to ring true with regards to the expanded Gascoyne geology team led by Simon, this time across a much wider geological footprint and with the benefit of owning an operating gold plant that can turn discoveries into cashflow opportunities.