Ok, just had a look at the last two quarterly's and what I...

Ok, just had a look at the last two quarterly's and what I posted ages ago. Sorry to say but I think most of what I said still stands. MOY did not meet their expected cash position (they expected over $24m, instead only $22m). They still need to find $46m for the expansion, plus a further $10-15m for underground development. They are still spending $5-7m per quarter on exploration and while finding lots of gold, the production rate is not increasing, although it will with the U/G, but that is still 6 months away at best. So.... in the end, MOY has great tenements, finding lots of gold, but... its a chicken and the egg situation, they need lots of cash to become a higher ounce production, but are using up their reserves so quickly that they keep focusing on finding more ounces to keep the plant fed.

They should have cut down exploration massively, and already have started development of the U/G, or... gotten a loan, saved on the exploration and have already started on the major expansion. Instead, they are stuck in time.... A capital raising is going to come, not that its the end of the world, just that... they could have been so much further ahead. All easy to say as an armchair commentator.

I like the stock, but... until they can decide on exactly how they are going become a 100k producer with a 5 year mine life, I continue to watch (and make mistakes of my own, BDR... more waiting!).

Good luck to all holders.