When MOY was at 4c, nobody knew what the team is capable of. There are tens and probably hundreds of other gold plays now in that same early stage whem MOY was 1 year ago, but only 1-5% of them will do the same as MOY did. There are only small numbers of top performers always.
I think it is safer to dive all in now, then 1 year ago. Because 1 year ago MOY could do what 95% others are doing - basically nothing good, stupid decisions, bankruptcy later when gold price stabilizes. Like SBM bought their solomon islands mine for $750m paying cash and taking huge debt, to sell it later for 0 (ok, $100 dollars, not millions). But the new CEO saved it and increased share price 50 times. MOY is only 10..15 times more expensive, but it is now completely different company, equity value actually is not *10, but much less increase. You need to take into account that previously it had debt, now it has cash.
Saying that, I could not bear pain any longer and sold a little bit yesterday. I know, it was stupid, probably it marked the current correction low.
When MOY was at 4c, nobody knew what the team is capable of....
Add to My Watchlist
What is My Watchlist?