I saw the graph of Novo share price and it made me cross that we gave the leases to them and when we then attempted to include 100 per cent into our reserves, I was unimpressed
Nova has decent grades whereas we have quite low grade and the POG collapsed leaving MOY with loan repayments that it can't meet
This is a serious situation for any business
Another cap raise will destroy the price and will that cap raise solve the problem ? I suggest it will postpone ithe problem till the next raise
This is not an easy fix
MOY Price at posting:
12.0¢ Sentiment: None Disclosure: Not Held