While I really want to add to my position. I think it very worth while to read up on MMY.
Their '$400' per ounce in costs is in the past.
News Releases
To be honest, I have only been reading for about an hour, but MMY is not without issues right now. They are trying hard to reduce their exposure to Malaysia. Where their only operating plant is....
While I think the deal on paper is a good one, there are many things that need to be further explained. Already the 100 million shares in MMY are only worth about $18 million. Then, you have the 50/50 carry to production, through the use of a loan. What rate will this loan be at?
I am also wondering how MMY will get funding for the building of the plant or plants at GCY projects? Its current production and cash might not be enough.
Anyway, I really want GCY to succeed, just a little nervous about the detail.
Ann: Reinstatement to Official Quotation, page-25
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