OTCPK:MEAOD - Post by User
Comment by
btrevorbon Sep 14, 2014 12:27pm
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Post# 22934809
RE:Metanor's profitability
RE:Metanor's profitabilityA very true statement indeed.
Drilling alone is many times the $1 million per year projected profit and strangely at this very important one year anniversary there is still not one single word about the Barry drilling, troubling indeed.
This drilling campaign totalling approximately 15,000 meters per property will be executed by the drilling company Orbit-Garant of Val-d'Or, Quebec.
Considering the last month MTO reported production, it was only 3825 oz
And being that the calculation omits royalties, tax, loan repayments, equip upgrades, drilling, etc.
The $1 million shrinks very quickly indeed.
It does not appear that solid oz in the ground growth is a certainty or Barry results would have been reported already. It only takes about 3 months to drill 15 000 with three drills.
The current mine life was 3 years as of 1.5 years ago, if good results were pending they would have been posted. Therefore the concentrator dream is exactly that.
it is hard to see how they will even repay creditors at this point.