Top junior gold miningGold at Fore of RBC Capital Markets' Top 20 Mining Stocks - Junior Metanor Resources on Growth and Valuation Watch List
https://www.prweb.com/releases/2010/07/prweb4122774.htm
Conviction buy recommendations in mining sector by noteworthy individuals and entities over the last two weeks.
New York, NY (PRWEB) July 9, 2010 -- Market Equities Research Group provides a synopsis watch list and related opinions of mining stocks based on recommendations made by noteworthy individuals and entities over the last two weeks.
Top Junior Gold Mining Watch List Selection:
Metanor Resource Inc. (TSX VENTURE: MTO) (Pink Sheets: MEAOF) (Frankfurt: M3R)
Metanor has been identified as a top selection by both mining experts Jay Taylor and James West.
Metanor Resources Inc. is a unique exploration junior with well over $30,000,000 of gold poured to date from their 1200 TPD mill. Metanor is expected soon to release a new NI 43-101 compliant resource estimate on its Barry gold project. Metanor could conceivably be positioned to move from a projected 60,000 - 70,000 ounces gold production per annum once the Bachelor Lake underground mine comes online (expected later in 2010) to mid-tier producer status on a second front at the Barry mine.
The following Balance Sheet/Book Value opinion excerpt is from a Mining Journal review of Metnaor that may be found at the following URL: https://miningmarketwatch.net/mto.htm online.
Balance Sheet/Book Value: MTO.V only has 128,450,005 shares outstanding and no long term debt and thus poised for significant upside revaluation to better reflect inherent value. Metanor has infrastructure valued at ~$150M including a proven, fully functional, permitted 1200TPD gold mill operating with ~95% recovery rates (over 30,000 ounces gold has been poured to date). We note that Metanor's market cap is currently at ~2/3 the replacement value of the infrastructure alone, ignoring the 1Moz+ resource; the known gold resources between the 100% owned Barry Deposit and Bachelor Lake of over 470,000 oz [this will increase with the imminent 43-101 report on Barry expected within days], plus there is over 100,000 oz historic at the 100% owned Hewfran extension (attached to the Bachelor Lake Underground and adjacent to their 70% owned Nelligan project), and ~450,000 oz at the 100% owned Dubuisson property.