Rob, that number comes directly from MOY - Expansion study
As for their current cash balance, no mining company uses all of its cash, super dangerous to say the least. They need a bugger. Anyway, just putting out an opinion. Happy to hear other views on it.
You are right, they do have revenue of approx $120m, yet... as of Dec 31st 2016, MOY had $28m, as of Dec 31 2017, they had only $24m. They are plowing everything they have back into the business, yet treading water with very little reserves.
I think management are doing a good job at mining, for what its worth.
MOY Price at posting:
22.0¢ Sentiment: Hold Disclosure: Not Held
