A word about our friend RonThere have been more than 10 P.P's since the last time Ron said they didn't need any additional capital.
More specific quotes from the interview.
Question
"Will you be able to meet the target of 60 000oz that you gave us in the last interview"
Ron
"slowly we have been ramping up" and
"we are at 4000oz ... and will come down a bit" "40 000oz this summer" and
"Next summer going towards that 60 000oz" Continually stepping away from his previous target statements and future targets as well.
"We did some small financings" ie the 10 million shares that are beating the SP down.
Excuses about not having the permit in time is total B.S.
"We are not doing what we are supposed to be doing" and
"money is not being properly used" MTO had not even finished the bulk sample prior to receiving the permit.
About the capacity to mill 3rd party ore
"We wouldn't really treat ore of other companies" they can't even profitably mill Barry how would they expect to mill 3rd party at a profit?
"We are trying not to do anymore financing" MTO speak for get ready for another financing. P.P. style so current investors get the shaft again, no chance for participation from current holders.
THERE IS NO TRY THERE IS ONLY DO OR DO NOT - YODA.
This man said absoultely nothing that instills confidence all he did was dodge his previous overly optomistic projections and say 50 000 enough times to convince me that they are not going to get to 60 000 anytime soon. You will be lucky if 50 000oz is aceived by 2015
Good luck pumping and dumping, too bad the production announcement didn't make you instant profits like you had hoped, now you will be sitting with the multitudes of others that believed Ron last time he released his hot air...or take a loss and run.
Having said that I feel the bottom will be 10.5 +/- but should not stay there long unless Ron has used his carefully words to screw us again with another P.P.
which is very likely.
Remember this statement well
"We are trying not to do anymore financing" he has burned shareholders before several times, this time it is even more probable as he has used softer language than previously. For all the "basher comments that will follow I will quote Ron directly from a statement made at year end 2008.
Jul 9, 2008 - "There should be no further share dilution or any bank financing in Metanor's future." 