OTCPK:MEAOD - Post by User
Comment by
gahdcon Oct 28, 2011 3:14pm
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Post# 19190917
RE: RE: INDUSTRIAL ALLIANCE SECURITIES ANALYST REP
RE: RE: INDUSTRIAL ALLIANCE SECURITIES ANALYST REP@Boreps. Cambus has already explained part of the 40,000 production process. As I understand it, another part is that under Quebec tax laws MTO is classed as an exploration company and gets substantial tax breaks that they will lose when they change to the status of producer. The 40,000 was not loudly proclaimed by MTO as they needed to keep their exploration status, the revenue from gold sales was listed in their financial report, around $23 mil I think. They did nothing illegal keeping it quiet, but they needed to play by the rules to maintain valuable tax breaks. So it seems to me management did the smart thing.