MOY (ASX) Ann: Quarterly Activities Report

Originally posted by Spidie ↑

One more quarter (Dec) + A quarter of the next quarter (Jan) will see Moy earning $500 to $600 per ounce more than they do now.

67 days of January at say $550 per oz extra = (20,000 oz x 75% = 15,000 oz) $550 x 15,000 oz = $8,250,000.

$8 million extra income in the March quarter will pay the bills.

20,000 oz x $550 = $11 million extra per quarter after the March quarter.

So Moy only really needs to get through the December quarter before we start to cruise along.

Golden Gate Underground will probably require some cash injection but later in 2020 it will be producing ounces as well.

After both Golden Gate and Bartons Underground are producing, there will be good profits rolling in, even with the cost of drilling ongoing.

The deptors that Moy owe money too are aware of the future income and therefore are not about to foreclose.

On top of this, I foresee the price of gold falling until the end of December (giving the gold price even more energy) to take off in 2020 into the $1600's.

That is an extra $100 per oz profit. So 20,000 x $650 = $13 million extra per quarter.

2021 will be the interesting year, as Golden Gate and Bartons Underground both producing gold bars, the profits will be rolling in. Once we accumulate enough cash we can then purchase known gold reserves in the Nullagine Area, as we are the only gold processing plant in the regine. Warren Hallamas Managing Director and CEO will most likely move early and purchase reserves before we accumilate enough cash as the early bird gets the worm. They sell or they get nothing approach.

Time will tell.
Spidie

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The Bartons UG does not make money and will not in the foreseeable future.

Think about it: MOY have just finished a quarter where the decline was stopped and the only mining activities done were stoping, these numbers should be the best the mine will ever produce as minimal costs are spent and the most tonnes are extracted - yet the numbers are revolting. 2.3 g/t.

Next quarter the decline and lateral development will restart (costs up) and low cost stoping gold once again wont cover costs, Bartons will draw down on MOY cash balance and someone will be asked to foot the bill. IMC deserve a Nobel prize for their support.