RE: RE: Selling at $0.35 ?
"So, It's not like they have a million ounces to chug through without any glitches."
Read this:
https://www.miningmarketwatch.net/mto.htm
What I think matters the most ATM is that they generate the cash flow, have enough to feed the mill, and don't have to dillute the stock anymore. With current cash flow they can expand, increase the resources, acquire properties etc...
Everything they have planned so far came true
"Production in 2008/09 shouldconservatively come in at 25K oz and ramp up from there to 65k oz in2009/10."
These efforts will ensure enhanced productioncapabilities and enable Metanor to achieve its readily achievable target ofUS$35,000,000 in revenue/year (
based on US$600 per oz gold) from millingoperations producing
65,000 oz/year by year 3."
If you take today's POG $800 and canadian $0.78 = $1025 per oz - $375 costs = $650 profit/oz
and $650 * 65,000 oz = $42,250,000 revenue in year 3 (if in year 3 gold is at $800oz what I highly doubt)
By that time everything, of course, will change. Canadian $ will not be $0.80 but maybe $1.20 ?
That we don't know.
Now if you look at how well POG held with escalating US $ in the past 3 months it is amazing. US $ will soon crash and all the bailout money pumping by fed will create IMMENSE inflation. What do you think will happen to gold ? It could easily hit $2000 or $3000
I expect gold to hit $1500 sometime next year and if that happens and Metanor stays on target of 65,000 oz/year then make your counts. And all of this you can get right now for $0.35.
$0.35 for this stock is laughable. I bought more at $0.39 and I'm glad I did !
Art27