If you really want to know about the proposed activities of the company this is the document to read.
Completed in Nov 2011, there have been additional requirements for both consulations and upgrading of engineering and HS&E, hope there are not any more required that we don't know about.
As has been stated before the achilles heel for the entire project is grade and management of resources.
The reported grade has increased many times with additional exploration; however, the grade from mining in 1989 shows an actual recovery grade of only 1/2 what is being currently projected by management. If the mine yeilds what it has traditionally MTO will not become cash positive any time soon, this is the risk. As an investor you must trust that what has been reported is realizable not just printed for pretty press releases. Again, time will tell.
Stoppage of production - total of 958,368 t at 0.136 oz/t (3.85g) - for reasons of too much mining dilution
In 1989 the average grade was 3.85g/ton and they stopped operations because they were acheiving even lower grades as the higher grade was depleted, the mine plan calls for the following extraction strategy.
The ore to be extracted will not only come from the two new mining levels, but also from residual quantities on the existing Levels 6, 8, 10 and 12, which represent about 60% of the projected tonnage. Table 4.3.2 presents the extraction plan by level and by year.
So in reality even if they do manage to have 7.85g/t in the new mining (doubtful) the actual grade of recovery will only be .6 x 3.85g/t(max!) + .4 x 7.85 = 5.45g/t
Now if everyone who has completed projections would like to adjust their numbers they will get a more realistic number for actual production over the next 3 years. Reality bites doesn't it.
GLTA and for gosh sakes do your own D.D.