Highlights of latest quarter "Astute investors", that's a good one. I would like to thank you for signing in to Stockhouse TODAY to assist all the uninformed investors who have been here for many many years.
There are a few things astute investors might notice in the latest report from Secutor, they might not be what Maria would like you to retain, it might be the qualifications at the very end that are important. To be fair I have summarized the "important" portions of the presentation, then presented what really matters for astute investors. Mill feed during the quarter totalled 60,365 tonnes (671 tpd) at an average grade of 5.3 g/t gold, and metallurgical recoveries averaged 96.1%
The underground drill program is targeƟng high-grade vein extensions, and is now about 50% complete. Notable drill highlights include 12.24 g/t over 4.06 metres in hole 6-108 on the 6th level of the Hewfran Sector, and 8.64 g/t over 5.8 metres in hole 13-149 to the west of the Bachelor Sector between levels 13 and 14.
Metanor paid down $1 million of the debentures, with $9 million of principal remaining outstanding. The interest rate of 10% payable on the notes is due semi-annually. Concurrent with the debt restructuring, the Company also completed a $3 million private placement financing.
Proven and Probable reserves at the mine total 200,000 ounces with an average gold grade of 7.38 g/t. The reserve base appears adequate to support a mine life of four years.
Well over half of these reserves have already been recovered, why would an analysist not include the material mined to date in their unbaised report? The Bachelor Lake mill has a capacity of 1,200 tpd but is currently running at a rate of ~800 tpd, and there may exist opportuni- Ɵes to expand producƟon beyond the current producƟon level of ~50,000 ounces of gold per year.
This statement comes directly from MTO propoganda it is not based on analysis as MTO has never had a running rate above 700 tpd, what exactly is the analyist analysing? Reproducing a statement Verbatiumas provided by the company management? Interesting indeed.
"It's not what you say, it's how you word it." I, Maria Kalbarczyk, cerƟfy that the views expressed in this commentary accurately reflect my personal views about the subject issuers. I also cerƟfy that I have not, am not, and will not receive, directly or indirectly, compensaƟon in exchange for expressing my views in this commentary.
NOW the only important statements in the whole propoganda presentation. Secutor or one of its affiliated companies has managed or co-managed or parƟcipated as selling group in a public offering of securiƟes for this company in the past 12 months
Secutor or one of its affiliated companies expects to receive compensaƟon or intends to seek compensaƟon for investment banking services from this company in the next 3 months
CAN YOU SAY ANOTHER P.P. THANKS AGAIN RON, YOU DILLUTOR YOU. 