MYG only has 2.7m in cash as of 31st March.
It has over 5.8m in debt left.
Drawed 4m from convertible loans from Sandstorm. 2m already converted into shares.
Basically cash position is roughly 4.7m as of 31st march and 5.8m in debt. Will Sandstorm keep pumping MYG which is effectively a capital raising anyway since MYG has no cash to repay back and it will be converted into shares.
Do or die moment for MYG here. They need finance very badly and gold price does not justify financing this operation.
Probably a good idea to ditch any goldies with more debt than cash.
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Last
$1.28 |
Change
0.035(2.81%) |
Mkt cap ! $119.3M | |||
| Open | High | Low | Value | Volume |
| $1.28 | $1.28 | $1.24 | $10.04K | 7.853K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 380 | $1.24 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.28 | 5771 | 1 |
View Market Depth
| Last trade - 15.28pm 08/08/2025 (20 minute delay) ? |
| MYG (ASX) Chart |