Petmiss, if you read the announcement and didn’t just fire up at the headline you would see the 3m is due to them changing the hedge structure so they can book more ounces earlier on at a better price - very beneficial in paying down their debt as they will start producing a lot more ounces than previous quarters. To bare 3m from cashflow just sitting idle is too much for a junior producer in debt.
They would have run the numbers and not taken the decision lightly, you talk like they had a choice whether to raise money or not which is quite frankly a joke
MOY Price at posting:
35.0¢ Sentiment: LT Buy Disclosure: Held
