RE:Metanor Resources remains on track for the 50,000 ounce markThe only reason MTO exceeded target was the 3 revisions that sent that target lower each time.
45 000 is 33% lower than previous projection of 60 000 oz.
The frightening part is not the lower than projected Tonnes but the low grade.
Several news releases indicated that grade would be getting better not WORSE.
But the results form this last month confirm that grade is very low even with all stopes opened and producing at nearly max. capacity.
Now MTO projects 50 000 oz for next year, another revision downwards from 60 000 and a far cry from the touted 90 000 oz news releases have indicated. It is only logical to assume from previous years pattern that target will be revised down again at mid year to 45 000 or even 40 000.
Without drill results to confirm grade extensions and a falling grade with all stopes open, MTO is facing the triple play of low production and low grade with no news on drilling.
I wonder what ever happened to Ron's Everest theory? Guess were are aclimatizing for a year at camp II before we move forward this time.
