OTCPK:MEAOD - Post by User
Comment by
mstettleron Sep 22, 2016 12:18pm
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Post# 25265947
RE:Get ready for more dilution
RE:Get ready for more dilutionlongshot52 wrote: Capital startup of $8.5 million; planned for the summer of 2017, following a feasibility study
Where is the money for the Feasibily Study, Capital start up and the paying off of the debenture? Santa?
Blind optimists bought at 9 cents on the reopening
Well spotted, I was going to post the same thing. So that's about 16 million needed in the next 9-12 months, plus money for infill drilling to complete the FS.
The other thing that caught my eye is that if they proceed they will be using the full capacity of the bachelor mill at 1200 tpd to produce an average of 21, 495 oz per year. So what does that say about the bachelor mine?
Lastly, they are including inferred oz in the PEA. The inferred oz are much higher grade and they are using this to window dress the PEA. They will have to convert these inferred oz to M&I through infill drilling as you cannot use inferred oz in a FS.