I do not understand the talks about a CR, especially at the current share price level.
MOY is in no hurry to build the plant upgrade for fresh ore. The next step will be underground mining from Bartons which can be processed by the current plant. Their first underground ore estimate (indicated and inferred) dating back to the beginning of August was 80k ounces, not taking into account all the outstanding drill results afterwards. Based on the exploration success they might mine Bartons for several years before they have to move to fresh ore.
Besides, I already made the maths in another post regarding Q4 of 2017. They gold price was very favourable and their guidance was a strong quarter. They should have increased their cash reserves materially.
MOY Price at posting:
17.0¢ Sentiment: Buy Disclosure: Held
