OTCPK:MEAOD - Post by User
Comment by
Margreton Oct 24, 2012 6:35pm
230 Views
Post# 20520311
RE: A little help
RE: A little help "Target 60 000 next year, half as many shares outstanding with SP @ .60 Considering these two companies at an equivalent stage of early production this places MTO at .30 except that SGN is officially in production, is retiring debit, and reporting results every week or two."
If you think SGN is fast at reporting then you weren't one of the people waiting 6 months for a delayed technical report for update of resources. More like downgrade of resources, including the same thing happening to CEO's other company SPM. SGN isn't so perfect. Scale malfunction that downgraded production and increased cash cost. Compare the cash cost of SGN and projection for MTO. CEO is better at making big promises than following through. Last quarter production actually dropped instead of increased when they are supposed to be ramping up. A series of disappointments. They did pay down debt but then added another $16m debt. I'd be surprised if they can reach 60k next year. Only my opinion but MTO looks to have a higher ceiling in both production and share price.