Post by
Wangotango67 on Aug 31, 2016 3:21pm
Mr. Sett!er.... where ? Plus - another superb idea !
If shareholders knew if the 2029 ounces of gold dore-bars were free and clear of all vises, and wholly in Metanors ownership, then... $1700 spot price x 2029 ounces ?
Again, no one as of yet... Has chimed in with that answer - to know for certain what the story is with the 2029 ounces in dore-bars.
Secondly, I've been researching the aspect of, new management changes... The debenture extensions, and the option to pay out at any time. And the value of why they drilled on Moray, and not place entire funds and focus on strictly the pit.
The pit, in my opinion is far easier gold to mine, they were mining it, the metrics are favorable now, the potential to spark it up is in my opinion a no brainer, so why the fiddling around with PEA - speaking on the premise of....they were mining it before...
They have debentures coming due, and the heart of the matter is, they just paid off the loans and in my opinion,all the debentures should be the main. Focus.
If they mined the pit before, and closed it because of the metrics were not fsvorable basec on gold prices, but are now favorable,,,,then what the heck are thry waiti g for?
Mine the pit, get the preassurd off, pay the debenturs off...
Suppose they come in with miraculous numbers - $650 top end - - to mine the pit....
Transfer temporarily the sans storm stream - apply it to the pit.
A transferring is brilliant. Only temporarily. 1 year term.
$500 percounce.
New all in ?
$1150
Suppose spot gold averages, $1650cdn over the next 12 months when debentures come due.
$1650 - $1150 = $500 profit x ( Barry gold ounce )
They'd need to process 2000 tons\day @ 2 grams consistently...
4000 divide by 31 = 129 ounces
129 x $500 = $64,500 x 30 days...= $1,935,000.00\cdn
Mine 11 months, ( 1 month go set new operation up )
$1,935,000.00 x 11 = $21,285,000.00 CDN
Pay debentures off = $9,000,000.00
$12,285,000.00 clear.
The temp contract with sand storm concludes...
The bachelor resumes...
Metanor has enough captial to invest towards to Barry Pit.
Loans cleared, debentures cleared... Cash banked.
Wango~