OTCPK:MEAOD - Post by User
Comment by
mstettleron Sep 25, 2016 12:07pm
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Post# 25275497
RE:Thank you Mr. Stettler -
RE:Thank you Mr. Stettler - Wangotango67 wrote:
The stream now mankes sense - total sense.. i get it now....
Anything mined thereafter is purely Metanors right ?
Secondly - the 21k ounces slated to be mined each year at barry.. .im sure - will change soon - given they'll be drilling more - adding more ounces.
My wonderment ?
Is 8000 meters sufficient ?
Will it add enough ounces ?
Should they be drilling 60k - 80 k meters ?
If the Barry outter zones are far reaching - the current 9 yr mine life could look like childs play - considering how vast of lands they have....
I - Will Sand want a stream - offering Metanor a deal on - Barry Gold - revise Bach?
2 - Will Sprott want a stream - offering Metanor a deal on Barry Gold ?
3 - Will another step in ?
4 - Will they choose financing ?
5 - Can Metanor mine enough gold at Bach from now till spring summer 2017 - to pay debentures off and pack away 8.5 million for start up ?
6 - would deferring debentureds again, prove wise - taking care of it now - vs- later ?
Factor in a way period - buffer - that they know they could achieve - to pay it off?
Will they sell it - is someone actually interested ? Or pipedream... ?
7 - Ya know- that website i provided - modular mines - did have a section in FAQ's - pertaining to bankable - reserves... indicated and measured... Would that company finance the modular mines - 2 set ups - handle 5k+ tonnage?
Funny - right after i posted - the topic of mdular mines -someone sure got bent out of shape - jeeze - i wonder why... lol lol lol - never know what crawls from the wood wrk - when speaking about other options... wink !
Cheers !
Thyanks again, Mr. Stetller - enjoy your insight.. its level headed. I do admire that.
Sorry Wango if I wasn't clear. Anything mined from bachelor and vicinity is still subjest to the stream - 25% to SSL. Satisfying the production requirement simply means that they could not stop mining bachelor without penalty. Previously they would eithr have had to pay back funds or somehoew otherwise deliver oz to meet a minimum produciton threshold.
My feeling on barry for the last 5 years is that a proper drill programme should be designed. Say 20K M to begin with and an expansion to 100K M based on the initial results. Unfortunately MTO does not have funds for this.
As for the 21.5K oz production envisioned in the PEA - this is athe maximum they can produce through the bachelor mill based on nameplate capacity and average diluted grade.
My gut tells me that the acual realized average grade will be lower and therefore production will be lower - somewhere between 15 - 20K oz per year. This is because the inferred oz reperesent 45% of the total and raise the average grade by 0.53 g/t. The current M&I average grade is 1.52 g/t, which in reality are the only oz they should be basing the PEA on. They will not be able to include any inferred oz in a full FS.
MTO would need a gold price $1000 higher than today to be able to fund a full FS, raise money to put barry into production and pay off the debentures.