Paying down debt on time is great and it is a legal requirement otherwise you go bust
With MOY,after paying debt down, they blew the rest on Exploration & development ----and in the first half of the year, they spent more than they got it. And yet another cap raise was urgently required.
If I hear Brian Rear carry on one more time about his bloody maiden profit, I'll puke. What Brian forgot to say was that he had run the till dry again. He makes up his own terms when telling you about financial performance, and I was convinced they were going good. The auditors put it on them thank goodness ( page 12 of the half yearly/interim report )
What Brian should be doing is getting his Corporate expenses down ( so far this year $ 2,214,000) which is way too much for a little company ( page 14)
and please drop the 100,000 oz target---and just manage your cash so you don't come back to us again to bail you out
Sentiment= very disappointed
MOY Price at posting:
29.0¢ Sentiment: None Disclosure: Held