Well, with 4.37b shares, and a 2.7c share price, it looks like MOY has just had a strong history of capital raisings, and we know with dilution, share prices fall- otherwise the market cap would be eleventy billion by now. Today, MOY has a market cap of $118m. The market will lower the SP- post-consolidation- if it seems MOY is over-priced market-cap wise, and lift it if it seems under-priced. Sometimes companies get pumped prior to consolidation, so when they do consolidate, any hammering is muted somewhat. I reckon there might also be a retail capital raising- maybe at the same price the SI's got in for- 2.7c. The reason: MOY has said it has $8.2m in cash and bullion, but has a $10m exploration program. Perhaps it can make up the extra cash in bullion sales, or just consolidate and then raise again. A new raising is just a guess, though.
MOY Price at posting:
59.4¢ Sentiment: None Disclosure: Not Held
