OTCPK:MEAOD - Post by User
Comment by
yldnowon Oct 01, 2008 1:09pm
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Post# 15497183
RE: READ THE NEWS !!!! HA! HA!
RE: READ THE NEWS !!!! HA! HA!Whats the differance from their previous production?
The news is that they got their Quebec permits, so they're no longer considered an exploration company. They've now passed all the legal hurdles and become a true commercial mine.
This will make a big difference in how their financial reports look. As an explorer, the gold sold so far has been considered part of their bulk sample, and goes as a credit against their exploration and development expenses. Starting with the Q4 report, their gold sales will show up as revenue, and it will become apparent that they are a profitable miner. You have to squint real hard to see that in the financials now. Since commercial production was just declared on 10/1, don't expect to see this change in the Q3 report; it will be in the Q4 report released in January.
When the market starts to like miners again, being a commercial producer will be a giant plus for Metanor. Very few junior explorers ever make it this far.
-- yldnow