Following the share issue to raise $15M, cash will not be an immediate problem and the company should have a net cash position of around $15M at present, depending on actual outgoings during the quarter and financing costs.
A take-up of 84% from existing shareholders shows reasonable support, even if not strong.
Golds doldrums in US$ have caused general weakness and MOY will be affected by that.
Production increase about to commence from sulphide upgrade is being discounted, as are positive results at Golden Gate.
So long as MOY keeps fundamentals in order the SP will respond but I note that MOY is being valued between SLR, and dare I say it GCY.
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