RE:RE:RE:RE:I do not get itCaptn,
We disagree here, I see little or no value here as the share price reflects. Sidebet has argued this same point from the merger all the way down to the current share price.
The company has no money to get the 3 million ounces out of the ground. Yes the mill can operate at 800 TPD. However they can't operate for a profit to have self sustaining operations of mining and drilling. If they could they would be mining already. I've said before you can have 10 million ounces in the ground but if you can't sell it for more then what it cost you to process it it's worthless.
Metanor tried for 5 years and couldn't mine for a profit. When they couldn't get any further financing to continue BTR merged with them. BTR hasn't even tried to mine. All they did was a bulk sample that proved Moroy wasn't economical. Most companies would love to have 3-5 g/ton feeding a mill with recovery rates at 97%. Not here you need either more ore volume or higher grades. Again go back in SEDAR and find the last 5-6 quarterly financial reports from Metanor. You can calculate the AISC by adding the revenue and dollars lost and diving it by the number of ounces produced. It comes out to approximately $2000-2300/ounce and that was ore directly under the mill. It matches exactly what map just said in a recent interview. That Barry isn't quite economical at current gold prices. It's close but not their yet.
So now BTR is facing the same issues as Metanor did before they merged. They are running out of cash and are having trouble finding investors to finance this further. I just don't think anyone is going to come to the rescue this time. Especiallly if they can get it for pennies once the doors close. But hey that's just me. You do what you think is right.