Good decision to bail out while there are still some hopeful...

Good decision to bail out while there are still some hopeful market participants.

The new MD has made it clear.

What I got from today's announcement is that MOY will not make money for the foreseeable future.
A 70-80k ounces gold producer will not make money unless the AISC is super low. MOY is having a world of trouble with delays, dilution,
No hint of AISC means it's probably way higher than what they are selling for. More than half of the production is hedged at 1750 price. Very little will be sold at spot price. Not much money will be left for debt service. I am assuming there will be series of debt negotiation, deferring payment, more incentives to Investec Bank & IMC for deferring payment, issuing cheap options and also a series of capital raise if any new broker is going to back it. It just looks too hard right now.

12-12.5 would have been a great chance to bail out but will take 9's now. We people will always hang on to hope ....hope it goes higher. The next cap raise if it happens could be at 4-5c, that is if any investors are willing to gamble. Looks difficult for all that has happened. Another GCY & BLK in making.
Sad day for MOY shareholders.