OTCPK:MEAOD - Post by User
Post by
btrevorbon Jan 22, 2015 7:48pm
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Post# 23353903
They have to sell
They have to sellGuidance has been lowered again. From 60 000 to 50 000 and now 43 000. We all know that 43 00 per annum means negative cash flow. And awards to management again?
The most dismal of all misses and they are rewarded AGAIN! Enough is enough, this management team is never going to make this a profitable venture and constantly stripping it of any value it has.
The cost per ounce is way up because the tonnes and ounces produced are way down.
The low quantity of ore has never been explained and continues to get smaller each month.
The grade which has been alluded to going higher but continues to fall for "EXCUSES!" not cause and effect reasons.
The thinner than water excuses do not hold up to scrutiny.
Unfortunately even with lower dollar and rising price of gold with performance like this MTO is going straight into chapter 11.
RUN don't walk RUN AWAY from this repeat offender. OVER PROMISE = UNDER DELIVER 