goldies up, moy down, page-13

I am puzzled by the Cash/gold figure at the end of the second quarter (30 June 2013) of $ 4.5m

Because at the end of the 1st quarter, Cash /gold was $ 11.1m

During the second quarter the EBITDA was $ 12.14 m

So you therefore you should have $ 23.24 m to make a $ 5m loan repayment and some exploration , say $ 2,5m

My question ( i am an accountant ) is how did MOY end up with $ 4.5m