There are three moderators who rarely post anymore.
Slayer: last posted October 26th.
G35x: last posted November 18th.
99nasha: last posted November 28th.
Also, when was the last time you saw them actively moderate anything? I have nothing personal against these individuals, but they are hopelessly inactive and the positions would likely be better given to others.
The problem would be solved if the moderators we already have do their job. If they are less active and not performing moderator tasks when necessary, then they should be demoted and replaced. If they have other commitments, demote and replace them; they should not be allowed to keep positions they do not have time to fill adequately. There are many more, highly active members here who are online an awful lot, as well as equally helpful and approachable and would serve as suitable replacements if that is what is required to keep this place clean. Also there are obviously people here who would jump at the chance to do it, for inactive members to hog these positions is just being selfish in my opinion.
By way of example, I sat and watched during a recent spam attack. Two moderators logged on, read a few threads (I could see from their activity), and left. They did not ban the spammer nor move any of the posts despite the fact it was fully underway whilst they as well sat and watched.
A third moderator arrived approximately half an hour later and the mess was slowly cleared up. Naming no names here, but the other two really should have taken action. Similarly, there are too many occasions where there are no moderators online at all; why not get at least one in as many timezones as possible? I do not believe there is an Australian on the moderator list at this time, nor anyone in Asia; they are all in the UK and North America.
I do not think we need more, we need to demote the lesser-active ones and replace them with regularly active alternatives. Assuming we take on four more, that would mean we have fifteen moderators. Why have fifteen when three or four are less active? Why not remove the less active ones and keep eleven or twelve fully active moderators? I believe previously banned members know that this is generally the case, and they know that their spam attacks are not aggressively dealt with.
I believe it makes perfect sense.