Anatomy of circumstance - hypotheticalsRan into a friend the other day...
He was telling me the story of his life after the divorce.
He said, he had one ( ) being squeezed by his ex he so coily named - sanddollar. Abrsisive like sandpsper, and wanting all his money. And the other ( ) was being squeezed by his dentist, for upcoming denture payments.
Sorry, got side tracked... back to MTO.
MTO - recent moves?
Scrambled eggs -'hoping to make a golden ommlette - appear attractive - with recent drill reports?
Rampant drilling on many zones...
Panicked reaction ?
Or, hoping to attract interest?
Achievement?
Theyve, proved there's more gold - many areas.
But with small drilling campaigns.and from a view from afar, I'm guessing, yes, guessing, some heads are turning - with the current drill results. Nice to see, expansion.
If it were me, no, I'm no miner...lol
I'd be scrambling to assemble a small fleet of trucks, contracted, a few case machines, a front end loader, a pit engineer quartering off the zones and depths, targeting the highest surface gold gram zones, hoping to exploit the easy gold, and if Barry is already permitted, get at it.
I would not be waiting till next summer. 2017.
I'd sandwich bag it ( wink ) cut the admin fees from the last PEA down to bare min. Then, wing it on the road improvements, and try like hell to bring the - all in costs - down to at least $900 leaving the sum difference of $800 - profit.
Shoot for 12,300 ounces - over 10 months
Keep it status quo on the ore they can mine at the mill.
850 tons\day x 1.5 grams\ton = 1275 divide by 31*= 41 ounces\day x 30 month = 1230 ounces
1230 ounces x 10 months = $9,840,000.00 CDN
Pays debentures off - provides a tad extra towards drilling - and as a result its one less worry.
Then... Perhaps MTO can breathe.
Not moving immediately on Barry, points to - how will they reconcile the debentures.
There's a fun arbitration. (Refer to last debenture revision)
If they did decide to move on Barry, and did achieve 12,300 ounces in 10 months with current spot gold values and did shave some all in costs ? It would allows breathing room, to rethink - regroup.
New anatomical picture?
One less ( ) not being squeezed.
Less grimmace, partial smile. lol
But a risk, indeed - one which entails - can enough gold from Barry be mined to achieve such a
significant sum of monies - to conquer the debentures - in such a time frame - and do they have sufficient funds to enact upon mining Barry - in such a short window ?
Having several options is where its at.
Preparedness is next to heavenliness.
After all, how long has MTO been thinking of mining, Barry?
Have they already thought this risk\ reward - scenario - mining it with current stats that may
prove the grams are or could be lessor - given the inferred has been included in overall ounces ?
Balls against the wall,
should they wing it - mine now, or stick to their current plan, in 2017?
Ding, ding, debentures.
COSTS:
Can they reduce costs? Open pit - $1,114 ? Seriously?
I've read many companies, who have. Slashing the costs, as they refine their mining procedures.
More they mine, they get better at it. Like what if the mill can process more soft ore than they assume? I would have liked f MTO grabed 600 tons and tested the Bach mill. A pretest - before the PEA - and - drill Barty first - before releasing the PEA.
FACTS :
The Barry is permitted - The PEA did state the Barry is " ready to be exploited."
Why wait till, next year?
OTHER OPTIONS:
Enquire, costs nothing to ask - RT modular mining company, if they finance their modular mining plants, based on a PEA - using - measured and indicated.
Selfsufficirncy - is bliss. No hands in back pockets.
Or, iron out a deal, with current interests, or other, and stream barry, (capital needed ) and get mining the barry, with the advent and mindset of - you got something everyone wants - it costs money to mine - get use to sharing. Sets a tone of, mother hen, with big wings, helping out.
Far safer, less stress, but at a cost.
Cheers !
Do your own research, I maybe entirely wrong... still learning.
Its how I see it, based on the limited info. I've read.
But as it is, I'm still learning.
Its the ability to gather all aspects - sift through all the information,
and try to come up with the best resolution.
Very difficult.
I'm a certainly no pro, assessor.
Hey, at least I admit it.
At the end of the day?
I like MTO - they have great claims - I like seeing the drill results - very interesting - its just the circumstances that surround the issues.
Can MTO jump through the hurdles, unscathed - come out on top?
I don't know. I guess, I need to study this more.
Looks good, but I'd like MTO to reveal more about the bachelor, moroy, and the stream. If the stream could ever be renegotiated, so it becomes a vantage for both parties given the price of gold and the highbcosts to mine bachelor. Incentive is needed. Incentive, makes one strive harder.
Or, how about a press release, stating how the 8.5 million will be amassed?
Or, how about the debentures? Will they revise them now? Keep it pending, wait till they come due?
Cheers !