Gold Producer Metanor Resources Inc. Receives Mining Analyst's Recommendation
SOURCE URL: https://sectornewswire.com/release020916mto.htm
Metanor Resources Inc. (TSX-V: MTO) (US Listing: MEAOF) (Frankfurt: M3R) is the subject of two newly released analyst advisory reports; one from mining analyst Jay Taylor of Hard Money Advisors Inc., upgrading MTO.V from 'Watch list' to 'Buy', and one from mining analyst Mr. Thibaut Lepouttre, Managing Director at Belgium-based mining and commodity research BVBA. Metanor is a commercial gold producer at its 100%-owned Bachelor Gold Mill in Quebec. Over the last few months Metanor has released a series of stellar drill results from its new South Zone/Moroy Property located south of the pluton, only ~900 meters south of the headframe at Bachelor (e.g. 10.1 g/T Gold over 26.2 m, 6.7 g/t Au over 38.4 m, 18.9 g/t Au over 5.6 m, 15.3 g/t Au over 6.6 m), in the BVBA report the analyst extrapolates results to date and sees potential* for 1,000,000+ new high-grade gold ounces from the South Zone.
Mining analyst Jay Taylor of Hard Money Advisors released an advisory to his paid subscriber base on the merits of establishing a long position in MTO.V and recommended with a US$0.15/share price target for MEAOF (~$0.20 Canadian on the TSX Venture Exchange for MTO.V; MTO.V is currently trading ~5 cents CDN). Mr. Taylor has a business MBA in Finance & Investment, in-depth accredited studies in geology, has decades of mining sector analysis under his belt, and is known for being reserved in his advice.
"...given the positives noted above, combined with a gold price that may indeed be ready to resume its secular bull market that was interrupted in 2011, I think it is highly likely we will see at least a double from the current price and a distinct possibility of a rise upward to and beyond US$0.10, which would provide more than a triple for those who buy these shares now. Longer term, if management can start to grow this company with internally generated cash funds and increase production from Barry, an upside considerably beyond US$0.10 is possible. However, given the company’s current assets, plus all it has going for it in terms of its exploration potential and the potential to combine its assets more efficiently under a well capitalized company, my view is that Metanor will become a takeover candidate by Osisko Gold Royalties or another major operating in Canada, and a sweetener for a suitor would be a tax loss of $15 million. If I’m right and gold is now starting out its next leg up in this secular bull market, a move upward into the US$0.06 to US$0.15 range could come sooner rather than later."
- J. Taylor February 5, 2016