RE:haltedI was invested in MTO a couple of years ago. They were not profitable with the gold they produced and were resorting to PPs to keep afloat. They also had a goldstream agreement hanging over them.
Just been on their website and the items that got my attention are:
1) $5mil in cash
2) Bulk sample to be taken at Barry, ramp in progress
3) good drill results down to 400m released 2 days ago at Barry
4) Bachelor mill can be increased to 1,200tpd for just $4mil
5) Seeking permits to have mill increased to 2,400tpd
6) Annual production around 25,000 ozs, still not very profitable
I don't know if any of the above is relevent to what will be announced, but my gut feeling is they need some cash injection. They have progressed Barry property in last year or so and it sits close to BTR.
Could there be a 3rd party with cash becoming more involved in both companies?