.29/22 = 1.3c pre-consolidation.
psyber said, inter alia:
"... it is the loan repayment schedule that is the worry."
It will be MOY's salvation. The target is to owe $25m by year end. More equity, less debt is the only way for companies to go these days. There is a (very good) post on the SLR threads, and here's feedback from the company @ their EGM on why they are doing their recent raising:
http://hotcopper.com.au/post_threadview.asp?fid=1&tid=2103470&msgno=9764851#9764851
"SLR needed the placement money urgently as the NAB loan facility had a repayment schedule and the company did not have the money to pay the installment due."
__________
Ok, so that's the situation of one ASX-listed gold companies, but I am sure some others are not doing too much better. They are all raising capital (TRY next, imo).
MOY is probably not going to have too much excess capital- unless POG flies. But it does pay down about $9m each half. Hence, by H2 2015, it should be debt-free, and probably by then, producing 100,000oz's. It's only had one year of production, but it has met targets. Not gonna go broke, this one, but none of the gold companies are doing very well in share price.
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