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Metanor Resources MEAOD

Metals & Mining Gold Industrial Metals & Minerals
Metanor Resources Inc is engaged in the production and sale of gold as well as acquisition, exploration, and development of mining properties. It projects include the Moroy Project and Barry project among others.


OTCPK:MEAOD - Post by User

Metanor Resources
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Comment by drg250000on Apr 04, 2009 12:02am
492 Views
Post# 15896441

RE: NEWS! Sprott takes 20M PP Shares or $10MM

RE: NEWS! Sprott takes 20M PP Shares or $10MMEveryone was wondering why the PP went so quickly. This explains it.  It looks like Sprott wanted a big stake in Metanor, reached out, and the deal was done.  Sprott knows what he is doing. His hedge funds have done well despite the financial crisis over the past year. 

Getting the higher grade Bachelor Lake mine online quickly is an insurance policy against a lower price of gold AND  being able to control grade through the mill provides leverage for higher grade throughput if the POG continues it's upward trend.

This might be a case where a secondary is accretive rather than dilutive if it gets the Bachelor Lake mine online years faster than otherwise possible. Time will tell.

70,000 ounces of annualized production beginning around July 2010 will be sweet indeed.  I'm holding onto my shares at least through the first 6 months after Bachelor Lake ore begins running through the mill.

We got the money, now let's go get the gold!

Best,
DRG
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