movement at moy station, page-4

Unfortunately, the market has reappraised the risk of holding gold stocks across the board, and I can’t see us leaving the station any time soon at much more than shunting speed. POG has fallen $400 from its highs. All the hedging does is give us some comfort re our debt. If POG falls anywhere that much again, MOY will have to mothball operations and would in effect be worthless. I think that’s the crux of the problem for MOY shareholders, not manipulators, etc.

'Hold' = in the hope of a bounce to 0.02