OTCPK:MEAOD - Post by User
Comment by
gahdcon Aug 18, 2011 11:38am
362 Views
Post# 18956218
RE: ERROR excuse me
RE: ERROR excuse me So in that case MTO should develop Hewfran which is connected to BL cause thats where the gold is. Let Barry lie in wait like a bottle of wine.
Way back when the Sandstorm deal was announced I asked MTO exec. Perry if Hewfran was included, since it is next to and connected to BL shafts and is apparently the same vein system. He said that Hewfran gold was part of the deal. I hope this doesn't ruin your day to hear this. I quess I should not be surprised to hear this as they list them together as one property on their web page. Well, you know what they say, half a loaf is better than none and we get 80% in the Sandstorm deal, so I can live with that.
In terms of mining strategy, I've read when prices are high companies will push low grade production when prices are high and save the high grade against the time when prices may drop and make their low grade properties unprofitable. Seems to make sense, if you sell off all the high grade deposits, then a price drop can put you are out of business with nothing to sell at a profit. Right now MTO needs BL to generate cash and anyway that strategy may be more realistic when talking about larger companies with multiple producing properties contributing to their production flow.
There is still hope for Barry, their last report talked about something like 60 remote survey target areas that have never been drilled. So lot's of room for discoveries and it's a big property surrounded by high grade finds from other companies. There is every chance that Barry is a continuation of the same systems. Their current 25,000 meter Barry drill program is a lot of drilling and I will be very surprised if they can't at least double the reserves on Barry (which they did last year with less drilling) and justify a mill or concentrator. Drill results from both BL and Barry should be comming in from now til the end of the year and I hope will add fuel to the fire. They have done almost no drilling at all in the last year or two on their other four properties.