The cash position is pretty good and covers us in the immediate term, but if they do look for funds, they'll likely do that via a placing with Areva and/or other insti's.
Would love to get a look in, though.
However, surely Woolford could not have been even more stupid than we thought in selling some shares at 20c, knowing that a fund raising was round the corner.
If they do look to raise capital this year, I'll bet I'm not the only one who would expect to see Mr.Woolford investing every penny he took out.
But yes, it is more than a little ridiculous that the last time we sat at this SP, everyone thought we were criminally undervalued. And now we're back here with a 120% increase in resource, and Areva on board. Moreover, we are that bit closer to the metallurgicals and scoping study.
Expect updated broker note very soon, from the same guy that called MEY a buy at 16c with a 36c target (before the resource upgrade).
I remain very confident about this investment.
MEY Price at posting:
14.1¢ Sentiment: Buy Disclosure: Held
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