OTCPK:MEAOD - Post by User
Post by
u2bobon Jul 24, 2016 9:48am
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Post# 25079461
17 page report on MTO Bang On ! No PP Required...
17 page report on MTO Bang On ! No PP Required...Great report ...as you can see by the map Osisko in the last year has taken over Windfall property to the N.E and most recently Souart property in March which they are working right now to the S.W. of our Barry property ...nice little 15 km strike ...connect the dots between the 3 properties and there you the potential of one large connected property with permit to open pit mine..It will be interesting to see if the share price will be held down much longer 8 cents is a joke..even if they offered a 10 for 1 share offering it would add less than 50 million shares to them and would make an offer worth around 24 cents at todays share price...imho....at these gold prices if we show a profit now and with Barry PEA and cost to mine I think someone will come a knocking soon...the question is not when but... who !
Next Q numbers and profitablity...if so it really opens up a lot of doors for MTO AS IN TERMS OF MOVING THE COMPANY FORWARD !
Also from the recent Finacial Post article...Metanor has the great advantage of having 5 million dollars in its treasury or in gold bars. It also has 50 million dollars in tax loss carry forwards. With a fully functioning mill, two permitted mines and a very prospective extension, Metanor is looking forward to its shareholders realizing significant value on their seemingly oversold shares. Long time gold investor Eric Sprott holds 13% of those shares.
https://business.financialpost.com/news/mining/ceo-interviews/metanor-survive-to-thrive
Company stated they where going to drill outside the open pit ...in have also been waiting for this... 150 anomalies outside the pit...plus we have 347,000 ounces in the open pit area of 2 + g/t and with the price of gold there is no denying the amount of interest in the area is picking up...
When comparing the Barry deposit to Osisko's Windfall deposit PEA and the costs it will take to bring the deposit to production, Windfall will need
~C$250 million to get a mine going with mill, the IRR is very low (~23%) on Windfall compared to an open pit mine scenario at Barry. In our analysis of what MTO's upcoming Barry Mine PEA might look like, it is plain to us that the IRR on Barry is going to be phenomenal, possibly well over 100%, our calculations vary upwards of 200% depending on how some of the investment needed is treated (as possibly coming right out of working capital). The investment to take Barry to production is negligible, and the metrics are dramatically better now than when MTO last operated Barry...
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