The Yanks and Canadians are a special lot aren't they! Novo is being used by the insiders to make a quick buck. The current price is laughable. In any event, I am not a holder of MOY but keep my eye on it. I just had a look at the MACD and it is rising towards the 0 line, and it is above the signal line. If I had free cash I would happily buy at these prices- it's using its income to fund its exploration and development with plenty of seemingly prospective land. Results are decent unlike these companies finding 1m/4gt and thinking they have hit a bonanza.
It will be interesting to see how management play it with hauling the ore to the Golden Eagle plant or otherwise.
It is not overbought on the RSI with it at 51 or thereabouts. I know Michael Belkin had it on top of his list not too long ago which would account for the sharp price rise earlier this year. MOY was listed in his last fortnightly report so it is on his radar. He prefers the first 5 listed companies in his list for each geographic area that he covers, and whilst MOY is not in the top 5 currently, being in the list is a good start.
I cant see it getting much lower if indeed it does in fact drop below say 15c. It has bounced off 14c and in 2 years anyone buying now will be a happy person I'd suggest, and no one will care if they paid 14c or 16c.
GLTA
MOY Price at posting:
16.0¢ Sentiment: Buy Disclosure: Not Held
