OTCPK:MEAOD - Post by User
Comment by
btrevorbon Feb 14, 2014 6:51pm
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Post# 22212764
RE:RE:RE:The mill is grinding through 21,000 tons of ore per month
RE:RE:RE:The mill is grinding through 21,000 tons of ore per monthRon Perry is the person who stretches the truth like a fish story. Always careful with his words, avoiding provable truth statements and utilizing vague statements that are difficult to call deception but certainly contain less than accurate predictions and very overblown blue sky comments, anyone remember the Barry elephant or positive cash flow statements in years 2010,2013 and just recently stated again.
He has frequently overstated MTO production targets by a wide margin, recently MTO had to roll back predictions of 60 000 oz to 40 000 oz per annum then expounding "the next Osisko" and "100 000 oz as a mid teir producer" Excuse me? Are you producing more or less? Did you expand the mill to 1200t or not? Also stating MTO would require no futher funding and subsequently dilluted shares, obtaining loans, private placements and negotiating the sandstorm agreement.
Maybe I just don't understand the english language all that well but to me these are misleading and to date all unfounded statements. Considering that MTO is still not cash positive and never has been statements about expanding the mill to produce 100 000 oz are more than just premature, they exceed rational expectation and could be described more as fantasy than projection.
If you look closely at the bulk sample data "the grind" as you put it, one notices the feed stock had 10% more volume than estimated, the percentage recovery and grade have not been reproduced by mining. They even printed a disclamier when reporting the results which YOU should reference not ensure YOU are not being misleading when reposting "Facts" like 25% more than anticipated and inferring that these anomolous events could be carried forward to production.
The bulk sample has also shown a gold recovery of 97.58% compared to the 93% estimate ...this positive variance is explained by a better gold content of the resource, larger veins than expected and a better recovery in the mill.
One must also remember that the mini bulk sample took many months to compile and was not completed anywhere near a normal timeframe using traditional mining techniques. I try not to misrepresent the truth although may err at times due to my own incompetence. That is quite different than presenting something that is maliciouly false with intent.
Need anything else to substaniate my opinion?
Again MY OPINION not a projection, news release or inferred future value, an opinion.