New Gold ZoneThat management believes that they found a whole new gold zone South of the Headframe that could be as wide/long as 1,000 metres and goes down past the 600 level.........they started drilling outward from the first initial hole and hit pockets of HG and none at all.......
Now I whole heartly disagree with the dilution and financing since they do have the cash and could have used 33% of it per quarter to undertake the drilling............and not dilute...............short sited management definitely is no matter what they say especially Perry.
Now if it does come to fruition that they find a whole new huge HG resource that would be roses for MTO's Geo team and hopefully shareholders.
What's done is done. Now the clock ticks away and we sit here scratching our heads........
Why the halt at Toma Gold................mmmmmm
VAL-D'OR, QUEBEC--(Marketwired - Oct. 30, 2015) - Metanor Resources Inc. ("Metanor") (TSX VENTURE:MTO) announces that it has undertaken to complete a brokered private placement and will be offering, through Secutor Capital Management Corp.: i) a maximum 40,000,000 units priced at $0.05 each, which consist of one common share and one common share purchase warrant having an exercise price of $0.065 and a term of 36 months, for maximum proceeds of $2,000,000; and (ii) 33,333,333 flow-through units priced at $0.06 each, which consist of one flow-through common share and one half of one common share purchase warrant having an exercise price of $0.065 and a term of 36 months, for maximum proceeds of $2,000,000 and gross aggregate proceeds of $4,000,000. The proceeds of the offering will be used for exploration work on Metanor's Quebec properties, namely the South Zone near Bachelor which has been actively drilled form the surface it the past few weeks and has shown positive results, and general working capital. Please refer to press releases issued October 27th and 29th of 2015.