To be in the money the share price has to triple at least.
MYG has to get finance, get into production and not have any major capital raisings in the next few months.
Expiry is at the end of November this year which makes the the schedule tight if not impossible.
Gold has also got to be higher to bring back sentiment into gold stocks.
Worse of all, most holders of MYGOB got them for free for participating in a capital raising a long time ago. Credit Suisse also got millions and millions of MYGOB for free as part of the 11m million finance which was closed recently from redemption of hedge. Liquidity to sell out is an issue.
This is not financial advice but seriously in my opinion those who buy MYGOB now are taking a HUGE risk.
MYG Price at posting:
4.3¢ Sentiment: Sell Disclosure: Not Held
