The capital raise was necessary- MOY has very little cash at all times. It needed to put $3m into the debt reserve account, and now has $1.5m extra for working capital, and $1.5m for buying new tenements or whatever. This one is not a "cashed up goldy" like some- but then, those companies usually have strong capex needs. A $6m raising was not highly dilutive, but keeps it in the same position it is in- a bit better off, but mostly a neutral affect. It's what it can do with the cash that will make the difference.
MOY Price at posting:
31.0¢ Sentiment: None Disclosure: Not Held
