No one is in a hurry to buy MOY. The liquidity has dried up...

No one is in a hurry to buy MOY.
The liquidity has dried up here.
It will be hard for people to get out without putting a downward pressure on the price.

There will be  a presentation from the company in Melbourne this afternoon and also there was one in Sydney on Tuesday. I don't understand why does the company have to spend money on these roadshow presentation unless they are looking to raise money from the market. MOY is not a new start up project, rather has been producing gold since 2013. From my little knowledge MOY & RED are the only company in this conference with a producing mine and rest are all garbage. I think (and it is my opinion)they are trying to raise 20-25 million dollars for the plant expansion but are not receiving favorable terms. Sophisticated investors won't put any money above 12-14c which would still be above book value.If they are unable to raise money then the balance sheet will be extremely tight for the remainder of this year. MOY will have to walk a tight rope with no room for error.

I also suspect there are some cheap options(.045 & .079) at play which will maintain a downward pressure for some time. If my suspicion is true then 14-15c could come into play even without a CR.

@Newbegining .....What are your charts showing for GOLD and for MOY.
Please share your chart with us. Thank you.