myg share price and gold price - 5 yrs chart, page-35

the pond i am swimming in is completely different.

MYG is unlikely to go into production at 1250 AUD as financiers will pull out. Most finance terms have a pull out clause that gives them to right to pull out with little or no penalty in "adverse market conditions".

Management have probably done the right thing (maybe a bit too early)by closing out the hedge and reduce debt. Key thing now is survival.

How much cash does MYG have? Last quarterly showed they have 2.6m in cash. 16.8m in debt.

Closing the hedge repays 11m of that debt.

I am warning holders of the circumstances of which they are in. MYG is not in a good position. Cash is low and still have debt. Without a finance package there is a lot of pain in the nearby future.