I don't want this to become personal so I will simply address the facts of the matter.
1) Flow through shares are traditionally valued at 0.65-0.70 of share value; Mike is close,maybe a bit on the high side. I could explain where this ratio comes from but...look it up for yourself, I'm tired of DD.
2) The rules have been broken, not a good sign. "A material change report has not been filed 21 days prior to the closing of the Private Placement as the participation had not been established at that time." Why was this not announced to the common shareholders for participation? Whose participation was required? Who is the insider and more importantly why? Why were no meeting minutes released? These are all questions that should be answered. Not should - are required to be answered.
3) Drilling is not a requirement of production and does not produce cash or progress towards cash positive.
4) If drilling is a requirement then grade is not adequate, this is the actual FEAR we should harbour.
TA TA FOR NOW - Hope we all make tons of gold.
Read more at http://www.stockhouse.com/bullboards/messagedetail.aspx?s=MTO&t=LIST&m=31957593&l=0&pd=1&r=0#M72FRm2kG6Ot65Tm.99