I'm posting the facts as well, i answered all your points in the last post.
You keep posting that negative working capital exerpt to cause fear, and my answer to that is the same as before, when i was here the last time.
That exerpt is a copy and paste that appears in all the quarterly filings in 2012. You can look it up yourself. It hasn't stopped them from continuing mining. The negative working capital is from the loan they took from Investissement Quebec. Here's the definition of working capital:
Any loan that is due within one year is considered in the working capital number. Since they will be paying back that loan this year, that negative debt is added to the working capital number.
The current rate they are mining at 26.8k oz/yr is in the range i thought they would be cash flow positive at (25k to 30k). MTO expects it to be in Feb so it sounds reasonable to me.
They are getting very close to cash flow positive. The closer they get, the less cash funding they need. Even if one more funding is required, it won't need to be as large an amount as in the past. Obviously the increased production they have reported directly translates to more gold sold and more cash generated, so they will need much less cash as compared to the past.
The market has already priced in the possibility of more fundings, that's why the share price is so below book value. Everybody thinks it's a given that another funding is required. What happens if no more funding is required? The share price would have to rise just to get back to book value. Trying to time the funding (if that really happens) to save a few pennies is not worth it to me. As i said before, those few pennies could eventually become an intraday more in the future. Almost everyone here is looking at the past, when most other stocks look to the future growth. MTO has plenty of room for growth and eventually that growth will be priced into the stock.