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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers
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To: Postman who wrote (64734)4/9/2009 6:50:21 PM
From: niceguy767  Read Replies (1) of 78408
 
Thanks, I googled GOE today. Interesting property. Not much to show on financials, though.

Consequently, I stuck with my prerequisites of:

i) revenue producer.
ii) no LT debt.
iii)interesting properties with some proven reserves and high potential for adding to the reserve base.
iv) anticipation of increased revenues going forward.
v) favourable mining environment in Quebec.

and bought some more MTO today, given their guidance of achieving a rate of production of 70,000 ozs per annum in July 2010, their recent highly positive track record, current undervaluation given Mill facility replacement value of $120M and Sprott and Goodman 33% o/s share support.

I also like this statement from the April 7/09 interview with MTO's VP and Treasurer:

"We will have some information probably in the coming weeks. Perhaps in the coming months we will be in a position to mix some of that 6.12 g/t grade Barry ore."

My price objective is a 5-bagger minimum over the next 2 years assuming POG between $850 and $1500.
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