RE:On the other hand, this is unusualLight wrote: any thoughts? Am I wrong? wrote:
Lite, it's what many of us have been saying for months and have been called bashers for bringing it up. Yet when management prints it, it gets overlooked.
Then you get some individuals saying things aren't so bad and can be fixed. All I have to say to that is this report could very well be the best quarter for the 2016 fiscal year ($200,000 loss). The price of gold was at it's highest average during this quarter. Production and grades are falling (down to 4.3 g/ton). With the price of gold falling, more and more pressure is being applied. Much depends on the price of gold over the next couple months. If it continues to fall or stay where it is it's going to be very difficult to make a profit or get any type of financing. As for a merger well with a $72,044,754 deficit I don't think it happens, but what do I know. If it does it's not going to be worth much. Which leaves the dreaded PP. Which will be a masssive amount of shares. These guys have really backed themselves into a pretty nasty place.
One final point that Bob isn't going to like. I was doing some research on SSL today and found out they have some convertible debt as an investment. Now we do not know who that is with, but wouldn't it be interesting if they were the convertable debt holder with MTO. I guess We'll find out in August.
OT - Shot 79 this weekend before the snows moved in. Nice way to end the season.