RE:RE:RE:RE:Ya, what counts is what I like about MTO; to 10 cents soonI like the prospects for MTO when the Barry ore is capable of being processed at BL However, the unknowns are:-
- The source of capital to repay the $7m Aug 2017 debenture, when it is clear that this cannot be generated from BL, at today's POG.
- The source of capital to put Barry into production.
Until there is a plan to achieve the above, without a near 50% dilution, then there will be great uncertainty. Shareholders may need to rely on information from WikiLeaks before the board gets around to providing a plan.
The year end press release stated that there will be a reserves and resource update at NL before the end of December 2016. As far as I am aware, there has never been such an update since prior to the SSL injection of funds in 2011. Could this be a surprise - the board never seems to volunteer information unless it is positive?
In my view, the only event which could avoid significant share dilution to get Barry in production, would be a return to $1900 gold prices by the end of 2017 Q1.