OTCPK:MEAOD - Post by User
Comment by
Margreton Nov 02, 2012 9:20pm
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Post# 20557664
RE: P.S. BasherT
RE: P.S. BasherT "Thanks again for your total lack of value added input"
Am i WRONG in saying it's a relief that they actually filed instead of being delisted?
You're the one saying the filings are so late and causing people to FEAR a delisting.
Am i WRONG in saying that there wouldn't be a big negative surprise as you claimed from the annual report because the Aug. $10m funding already told the market that they needed cash in June?
Am i WRONG in showing the production schedule as stated in the NI 43-101 report (page 22-2)? Or are they years behind schedule as you were making them out to be before i posted that?
The NI 43-101 is the most reliable unbiased information we have available, not an anonymous poster like you, or anything management may say or mistakingly say.
Everything you say is given a negative spin based on your holdings. Look at the sprinkling of inuendos you just made:
"is it going under RP`s matress?"
"Nothing of value in the MD&A"
"is a bit steep but what the heck beer is not cheap in QUÉ"
"still no income though which worries me"
These are all no value added comments by you.
Their production was in the July,Aug.,Sept. quarter. Nobody was expecting income in the June quarter. Isn't it obvious that if there were gold sales it would come on the quarter they produced it? Even then there could be a delay in shipping it.
"At least we are losing money at half the rate we were last year. 18MM spent on Bach."
Why wouldn't they be spending money to build the mine? According to the 43-101 (page 22-16) a total capital cost of approximately $41 million will be required to bring the mine back into production. Do you know of any mine that requires zero cash and instantly pops out of nowhere producing gold? You make a list of the series of smaller funding amounts and make it out as incompetent management when all the juniors were having problem getting funding. How else can they get the $41 million.
You can see the table of estimated capital cost required for each year in the 43-101 (page 22-16)
2011 $13.5 million
2012 $21.8 million
2013 $0.28 million
The $18 million they spent doesn't look so out of line. Those are the capital cost numbers, then add the cash needed for salaries etc., same for all miners. Some of that cash they spent in the past was to buy back royalties and buy surrounding property like Hewfran. That's supposed to be good use of cash.
If you weren't giving so much negative spin and buy shares, then i wouldn't have to contradict you.
MTO was holding up surprisingly well today with the big drop in gold prices. But then again, MTO would still be profitable with lower gold prices and is given a negative value for the gold. It has been beaten down so much that it can go up when something BAD doesn't happen.