Last week little-known gold miner Gascoyne Resources Limited (ASX: GCY) voluntarily appointed administrators to manage the company as cost blowouts and missed production targets at its Dalgaranga mine meant a material cashflow shortage over the next six months.

At its peak after the June 2018 report, the company had a market capitalisation of more than $200 million. However, this was not when its price was at a record high. That was back in August 2016, when it hit $0.765.