Hey Spidie,After the first shock, i decided to hold. I already...

First 48 Last

Share
Profile

Follow
Auge

421 Posts.

15

25/11/19

22:53

Post #: 41625457
Share

Originally posted by Spidie: ↑

Hi guys,
Sorry to see this company get to this point.
Dept not being repaid in time = not enough profit coming out of Batons UG mine in time to pay the dept.
This doesn't mean that Bartons UG will not be able to produce good profits in the future.
Then there is Golden Gate, that we put money in for, that has not had the chance to get operational as yet.
The mill has been upgraded and requires more upgrades to increase gold production.
Cash flow is MOY's problem.
IMC will have the opportunity to take over, they can carry on if they think it is viable.
Now if they think it is viable then they should take the existing shareholders with them, instead of letting them take the fall for it all. The share holders need to be looked after.
I personally think that MOY's gold tenerments and mill are good, I also think that 2020 and 2021 are going to be very good years for the price of gold and that good profits are going to come. The problem is surviving in the mean time.
I believe that if everyone could agree to put everything on hold for six months, then everyone would come out of this smelling like roses. MOY would still need to get better gold production out of Bartons UG, a working progress.
How many businesses have gone out of business due to cash flow problems and not due to whether the business is viable or not.
Cash is required or everyone to put the company on hold, that will not happen unless they believe that the company is going to be viable.
I took my money out of MOY just recently because the risk had become too great, I took an $18,000 loss and saved $6,000.
however I can still see MOY surviving in one form or another, due to what they still have, good tenements and a mill.

I wish the stock holders of MOY all the best.
Spidie

Expand

Hey Spidie,

After the first shock, i decided to hold. I already burnt 75% value, so i will hold. Fact is, here are Problems, big financial problems.
But fact is also, that drilling, ore, gold etc werent so bad. So, with a smart restructuring - and i hope there will be one - there could be in 6 to 18 months light at the tunnel. Well, lets hope. More i cant do right now.

MOY Price at posting: 5.1¢ Sentiment: Hold Disclosure: Held
2 Upvote

0 Great analysis

Reply