OTCPK:MEAOD - Post by User
Comment by
gahdcon Apr 25, 2011 4:12pm
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Post# 18484808
RE: RE: RE: A little reminder
RE: RE: RE: A little reminderYes I had thought of the other two you mention. I more or less lumped the new Bachelor Lake zone into the drill program at Bachelor Lake, meaning ultimately, any results that would inrease reserves.
I thought of the Nichromet angle also, but excluded it as perhaps out of the six months time frame. The Nichromet process was portrayed as 10 x more efficient than current technology and thus could be a game changer for increasing profitability for a low grade site like Barry. Of course with the price of gold continuing upwards that can't hurt either, with gold now $1500+ every ounce mined by MTO eguals $1000 profits ($1500 - <$500 cost to mine = $1000 profit per ounce.). If MTO can arrange to finance mill/concentrator at Barry in nondilutive way I would think that would be a big push up for the stock as now MTO would be on the way to being a producer with two mines in production. Regarding Nichromet, maybe they will be willing to help with financing at Barry since it would be the first full scale demonstration of their process for gold and thus important to them as a validation of their process for potential customers in the industry.