Post by
victor0987 on Nov 28, 2015 9:57am
Sedar
A few statements from: INTERIM MANAGEMENT’S DISCUSSION AND ANALYSIS REPORT
QUARTER ENDED SEPTEMBER 30, 2015
Pease read full disclosures for further insight into the present state of MTO
https://www.sedar.com/CheckCode.do
The Company's ability to continue as a going concern depends on its ability to realize its assets and to obtain additional financing. While it has been successful in doing so in the past, there can be no assurance it will be able to do so in the future. Furthermore, the Company incurred a loss of $2,016,166 during the period endedSeptember 30, 2015 and has a deficit of $71,333,520 at that date.
On September 30, 2015, the Company had a working capital deficiency of $52,908 compared to a
positive working capital of $1,094,604 on June 30, 2015.
The Company expects an increase of gold sales and is looking to refinance its debts.
More advanced exploration and development work and the production of gold on the Bachelor property could require additional funding. The Company could raise funds by way of public and/or private financing, loans or gold sales.
On November 27, 2015, the capital structure of the Company was:
Common Shares 421,189,849
Stock Options 18,760,000
Warrants 88,426,308
Brokers warrants 9,253,92
The Company is involved in various claims and legal actions arising in the ordinary course of business. The Company is vigorously defending the various claims and legal actions, including a current criminal claim in relation to a workplace accident, and in the opinion of management, the possibility of any outflow in settlement is remote or will not have a material adverse effect on the Company’s financial position or liquidity.
Comment by
witsguy on Nov 29, 2015 10:08pm
Funny how diluted pig share structures and very high management salaries seem to have a very strong correlation coefficients...
Comment by
pdcon1 on Nov 30, 2015 10:01am
did mto include the 500 per oz from sandstorm