RE: RE: Q3 could total 4224 oz produced Many miners have delays, there are many things that need to be done in mining, MTO is not that unusual. For example, Scorpio Gold has been ramping up for the last 9 months, was expecting 40k oz/year but dropped to 30k oz or less from a scale malfunction, shareholders waiting 6 months for delayed technical reports. After all the problems, their market cap is still higher than MTO.
There were indications that management expects cash flow positive in December. I think that's around 30k oz/yr. Then ramping up to full production of 60k oz/yr in March. It can take many months to ramp up production, i think that's a fair timeline.
Look at the NI 43-101 technical report for Bachelor Lake done by independent geologists. That is the most unbiased and realistic report. Don't just rely on what management or anonymous posters on this board say. Page 22-2 gives a time table of oz. expected to be produced for the next several years. 2012 is 14,226 oz, 2013 is 66,818 oz. They're possibly behind the timetable by a few months but that won't kill them. With additional drilling that was done after the report, another 2 years should be added.
Look at the table on page 22-20. The study was done using a gold price of $1271. They have a table of what happens for higher gold price up to $1500. At $1500 gold price, cash flow is expected to be $138 million and Net Present Value NPV is $110m. These numbers will be higher for $1700 gold. When MTO market cap is currently only $52m. The higher than expected recovery rate of 93% to 97% also increases cash flow. The IRR of 106% is very high. The numbers in this technical report is much better than most operating mines because of the high grade gold.