MTO has used this "journal" in the past when they needed to raise money. They are broke and need funding. The flow-through they just did isn't enough. They will not be able to get any loans or anything at this point and they have already hedged 20% of production at $500. I am guessing the next financing will be anywhere from 5 to $20 million and be done around $.15 to $.20. I don't believe they will be cash flow positive until later in the year like Btrevor says. This deposit doesn't seem to be as easy to mine as MTO management thought.

"This most recent incarnation of the mine is leaner and more modest, as management steers clear of past mistakes that were encountered when previous owners tried going big. “You have to adjust the approach to the size of the mine,” Metanor’s chief geologist Alain Blais says. “You don’t try to make the mine fit the size of your dreams.”