"Best I can tell MTO is making a net profit of about $2,000.000 per month"
More likely a net loss of about $2 million per month. They are nowhere near cash flow positive yet.
"This is in spite of having less than normally expected grades because of the initial drifting required to get into position to follow the ore bearing veins."
5.5 grams per ton is the historically normal grade so they are only slightly under.
"Considering that the situation should continue to improve I see no reason why they would have to do another financing.They might ,of course, take up an offer or decide its prudent to get some back up cash reserves."
Then why are they wasting money on all these pumper artitlces? If they don't need money then there is no reason to pump!. The numbers will speak for themselves. Fact is they need money. We have no idea what the cash costs are at this point but based on other Canadian miners the costs at this point will be close to $2000 per ounce. The costs will come down as production ramps up and will stabilize somewhere between $800 and $1100 per ounce if and when 60,000 ounce per year is achieved.