Which is the reason the SP stays near the 20 cent level! That will probably be the financing price. That is probably why the insider sold...to raise money to participate in the upcoming financing.
The company is not any where near cash flow positive. They have loans to pay back and too many mouths to feed for anything less than 3000 ounces per month to cover.
Why doesn't someone phone Ron Perry and say they have a couple of million dollars they want to invest in MTO and see what he says?
When MTO gets some money in the bank, and shows they can get over 3 or 4 ounces per month on a regular basis, then the SP will rise!
It is bizarre that everyone here is surprised the SP is not moving up with these last news releases. Cash is king and MTO has NEGATIVE working capital right now!
There are a hundred other miners out there that are in similar situations to MTO. If gold ever takes off again they will all go up, until then the only money people are making is by shorting into any rallies.
At this point the ONLY thing that will make the SP rise drastically is a takeover bid. NO CHANCE of a takeover however, thanks to the 20% production hedge at $500 per ounce.