Interview with Ronald Perry, on Nov 25, 2008https://www.miningmarketwatch.net/index.htm
Interview withRonald Perry, VP & Treasurer of Metanor Resources Inc. on Nov25, 2008
Production
Q. 1 Mining MarketWatch: A new mill has a degree ofuncertainty, needs to be scaled into production and there is acertain element of “proof of performance” – so now with theapparent successful transition from batch testing phase toofficial commercial production status having occurred, where dothings stand now and what is the plan from here production wise?
Ronald Perry, VP & TreasurerMetanor:“We’re running 700 TPD,getting recoveries of ~96%. Today we poured the 30th gold barout of the facility -- so people should realize now theproduction risk has been mitigated; Metanor can produceobviously – we have produced 30 gold bars since February 08, weare going well, during the 30 gold bars we took the mill from500TPD capacity to 750 and are running at 700TPD. We are runningstill 24/7, we want to bring the capacity up to 1200TPD, that’sin the plans. Inlight of where gold prices are and what we hear in the marketplace I think we would like to move on that in the very nearfuture.”
Bachelor Lake and Hewfran extension
Q.2 Mining MarketWatch: The deeper you go at the BachelorMine the better the grades, I understand Hewfran, and Bachelorare connected underground. Could you explain the significance ofMetanor’s recent, Nov 20/08, press release of new discovery onthe extension of the west zone of Hewfran, what is the plan forthe Bachelor mine and how does Hewfran tie in?
RonaldPerry, VP & Treasurer Metanor:“Hewfran is a former Aur Resources property … Bachelor hasresources of the 6th and 8th gallery called the Hewfran property– there was a access door, that is how Aur Resources (now Teck Cominco)would get at that section to do their exploration. … AurResources found some gold on the surfaces [at Hewfran], not alot, but then they went down and they discovered it at depth,well across the street in the woods Andre Tremble and ourprospector team they decided to check out something, you saw inthe press release the numbers we’re getting. We’ve got a drillon site right now at Hewfran because its extremely promising,the showing that we have is just like right off the main streeton the way up to Bachelor, you’re half a kilometre from themill, you’re dead in line obviously with the Hewfran showing andon the drift, you would be off on a drift a little to get tothat but Andre Tremble feels he has seen Bachelor rock in thecore, this is the extension of Bachelor, obviously it is in theHewfran section, this is looking very good. This could be a bigdiscovery, this could be mined at the beginning by an open pitif we are right and then we could go underneath through levelsix and eight and mine it down there. We could have somethingreally interesting here – it’s a real plus. We are thinking nowto refurbish the shaft, do some work on the headframe, which wewould have to do anyways, and then just mine 6 and 8 gallery,get some more cash flows and get the gold and mix it with Barryand get the mill up to 1200 tones ... if we go down we getbetter grade obviously, there is better grade down the shaft,and if we did a mix of say 700 tons of Bachelor ore and 500 tonsof Barry ore we would probably get an average of close to 7grams, the idea is to manage your grade, manage your cash flow,extend mine life, and keep exploring. So we feel could get the millup to 1200 TPD probably within 6 months and we feel we could getthe shaft somewhere by 8 to 10 months time frame."
Cap Ex
Q.3 Mining MarketWatch: Cost of mill upgrade to 1200TPD &underground work at Bachelor Mine
Ronald Perry, VP & Treasurer Metanor:"Management ever mindful of being frugaland being able to think on their feet - Metanor has already beenprocuring equipment for upgrades in anticipation; ~$5M for millupgrade to 1200TPD, underground would also be about $5M."
Barry Deposit
Q.4 Mining MarketWatch: How are things at the Barry deposit
Ron Perry, VP & Treasurer Metanor: "We want to get back to also exploring Barry - the last majordrill result was “36m and 6.12 grams”, if you are looking at theexisting pit going up and down on a sheet of paper – you go tothe left had side of the paper and you’ve got 36m wide 6.12g, itlooks very promising that this pit is going to go to the left alot more, we’ve got a lot more work to do, we’ve got channelsampling going on, but we are mining it at the same time. Barryis open at depth too don’t forget."
Transportation
Q.5 Mining MarketWatch: Are you experiencing lower costsnow?
Ronald Perry, VP & Treasurer Metanor:"At one point we were paying $50,000 amonth in fuel surcharges and those are now gone."
Growth
Q.6 Mining MarketWatch: Growth by exploration expansion andgrowth by new discoveries are ongoing for Metanor, what aboutacquisitions?
Ronald Perry, VP & Treasurer Metanor:"Metanor by design was formed by getting amill and a mine at the beginning, this provides us with cashflow and gives us flexibility - with the market place the way itis now, juniors without a mill are going to have a hard time toraise money, we do get offers and there are going to beopportunities - Metanor will also grow by acquisition or as Icall it by “guaranteed exploration” –within a 100km radius weare the only game in town."