Is Mr Market asleep?
According to Macquarie, MOY has a P/E of 2.85 and no debt.
Even a P/E of twice that (5.7) is normal for the industry and with recent drill results a
P/E of 10 would not be unreasonable.
Perhaps the value buyers will cop on and we'll see a 3-4 bagger within the next 12 months.
MM
