Metanor Resources MEAOD

Sad Truth Is ...

[u2bob]

...like all other miners we are not making a profit ...55 million in sales and 6 million loss !

 

...Only potential here is open pit ...and or selling the company ...sad but true ...

 

...Unless there is a cheaper new way of extracting gold from underground or a higher grade source we are just giving away future profits when gold  eventually climbs out of this mess ...

 

...approaching Oban or Sandstorm to JV or take an equity stake in MTO and build a concentrator for Barry and expand the mill at Bachelor would be the only real feasible way for MTO to survive and maybe even flourish in the future...my guess is they are trying to prove up the open pit resource and sell this thing !

 

Just some Sunday random thoughts as we wait for drill results...

 

Good thing there's football today

 

Bob

[LiTeOn1981]

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[JRaffles]

Sandstorm would get 20% of zero if MTO mothballed the site until gold prices improved drastically. However, Sandstorm are probably counting on the fact that the the costs of mothballing BL and subsequently restarting would be costly. Even if this were to be an option, it is unlikely that the directors would agree to their loss of $1 plus annual salaries!

[ramblersrest]

The salary scandal here must by the worst ever all factors considered. Company is basically on life support and losing yearly with 9 million debt due in less than 2 years. However, these pigs gave themselves massive raises over and above overly inflated amounts... This calls for a special item on company annual meeting....,, 

[witsguy]

Quek surprise, the cabal "needs" said status quo....

[davekin]

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