Investec has first rights if assets are sold. Investec is owed $15 million. IMC is next in line at $27.5 million. Unsecured creditors come next and I don't know what they're owned. Could be between $10 and $20 million. I don't know how much cash MOY has on hand or the gold inventory. What the plant and tenements are worth to an outside investor is a guess. Novo might pay $10 to $20 million for the plant but Novo won't want anything else, especially the environmental liabilities. I don't see an outsider coming up with $50 to $60 million to payoff Investec, IMC and the creditors. Leaves the shareholders with nothing. Outside chance that IMC might try and make a go of it by paying Investec off and getting the creditors to take a percentage of what's owed them. IMC would have to pump in another $20 to $30 million to do that and would then have first rights to the assets. IMC is the shareholders only hope.
MOY Price at posting:
5.1¢ Sentiment: Hold Disclosure: Not Held
