With POG stabilising around $1400+ AUD/oz you would think that, based on MYG's previous announcements negotiations with banks should be able to get financing in place. Then again our confidence is shattered with regards to what we would usually read into in the wording of announcements. Normally if told that I would believe given the current environment that indeed, with POG now back to nearly $1550 AUD/oz we could surely get financing if deflected cash costs are really ~$800. But yeah who knows.
Anyhow - the options money is due soon. What is everyone's final decisions/thoughts? I would think that if POG stays above this price if they can't commercialise this then this company may as well close shop and save burnign anymore cash.
That said - has anyone had a detailed read of tranceh 1 vs tranche 2 options? I know tranche 1 are due 30 August, tranche 2 being later. Besides the potential for no approval from shareholders for tranche 2, does anyone know what the differences are? To pay later, do we just pay after 30 August to gain accses to tranche 2?? Otherwise if we pay before 30 August we receive tranche 1? Just wondering if anyone could clarify.
MYG Price at posting:
3.4¢ Sentiment: None Disclosure: Held
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