OTCPK:MEAOD - Post by User
Comment by
u2bobon Nov 30, 2016 12:46pm
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Post# 25534714
RE:Q1 report still stinks
RE:Q1 report still stinksgoldminer01 wrote: no matter how you slice it. HOWEVER, cash level is $1.8M and "DEPRECIATION and DEPLETION expense is purely bogus since the Company is teetering on survival so they are meaningless accounting entries. They are essentailly covering drill expenses.
However, this quarter PoG will be down so that is a problem. As long as they can hold off another PP before PoG increase to $1730+ again they will be fine. Sprott probably gives them a loan for Barry to get it going, then he orchestrates entire Company sale to Osisko Mining later in 2017.
A PP is like terminal cancer !! I hope they don't do it.
I agree no PP ... also the company did not sell all the gold produced instead put 500 ounces aside... so they have gold held back rainy day ...and still the same amount of operating cash...so it looks like they are holding off doing any PP...