As a LT holder of MOY I think we are finely on the right footing... Am i happy about the shareholding - No.. BUT I thought we were a little light on for CAPEX in the original plant design. This placement will ensure we get a solid processing plant, that we can expand through further studies and then capitalise or Mop up the other ore parcels in the region that have been somewhat locked-out of processing options given this will be the only Mill in the region. MOY soon maybe able to offer a real option to these guys via a further expansion and increase revenue for us as shareholders - This is what is needed to fully capitalise on the project so I see this as a good move.
As psyber has said the mine will be producing gold withing the next 5 months and the share price will track northwards as we get closer to the start-up.
MOY will still need to do something to consolidate the stock on issue, but again it should all be baked in to the overall direction of the company and a rising share price.
Cheers
RT
MOY Price at posting:
44.0¢ Sentiment: Hold Disclosure: Held
