Both March and May produced the same quantity, in April they couldn't even break the 2000 oz mark.

The story line is 60000 oz per annum, then clandestanly 50000 or 40000 or whatever RP can say without being liable, but the reality of an unproducing mine is sinking in for most of the long holders.  

I said 24000 oz a year ago (June) but MTO is having trouble even getting to that number.  The real problem here is that none of the management have previous experience with the challenges of getting a mine to full production and they tell stories like fishermen.  Shortcuts with the drill core samples, inhouse evaluations and lack of totalized ore vs. mineral reserve accounting.  Simply put, even if this could make money the costs to produce are hidden from shareholders.  They do not release burn rate, initally because they couldn't estimate it but now it is simply because there is also no legal reason (until they declare production) that they have to.  And that is what makes a true investors skin crawl, we don't hold management responsible when a government screws over the mining company with 70% windfall taxes or a cave-in disrupts production.  We do hold them responsible for transparency and accuracy of reporting, forecasting and estimation.  This management has failed on all levels, first by hiding the facts, then by distorting the present with future promises, then failing to even meet their lowest standards of conduct.

Sad show this management team, if they are going to turn the corner it will be in June, if they can't manage that someone else will hang their shingle above the door and pretend they are miners until they too have lost confidence of every person they have ever pitched to and end up as shoe salesmen like they started.