Riddle me this?Net Loss for the quarter of $410,174 which includes revenues and cost of sales for December.
Total of $3,556,885 in gold sales in December (commercial production period) at an average selling price of $1,242/oz (US$1,167/oz at an exchange rate of US$0.94/CA$1.00).
Gold production of 4,514 oz were produced in December.
The question is how much more gold can MTO produce?
Let's say they max out at predicted 5000 oz per month that would make 500 more oz per month.
Now take 500 oz at profit margin of very generously $500 per ounce and you get $250 000.
Can MTO ever be cash positive at current POG?
We are all good at math so I will let you figure it out.
Did anyone want a new car? Sell your shares now.
Buy back in a few weeks when it is at .185 to .205 (will let you know as we get closer)
OR hold on to your shares and see how it goes.
Chart has already lost top and volume has totally dissapated.
Remember your trading rules people.
One more thing, don't let the pumpers get away with lying their shares off.
Read more at https://www.stockhouse.com/news/press-releases/2014/02/28/metanor-reports-its-financial-results-for-the-quarter-ending-december-31st-2013#8MGc6E20bVr6IBHI.99