Metanor Resources MEAOD

RE: RE: RE: SOME WORRIES ON MTO's BOARD?

[JRaffles]

I disagree that MTO is unattractive for a major because the probability of a big deposit in the Barry-Urban area is pending at this time and will soon become obvious after the drilling results.MTO haven't to sell the shares but rather the assets of Barry deposit.So,why Sandstrom's deal is a concern if MTO opt for selling Barry deposit assets?And when this transaction released,PS will be a lot higher than now.


I was considering the implication of selling either the Bachelor project, or the Barry project in order to raise funds for the company the make a sucess of one or the other. If MTO decided to keep the Barry project & sell Bachelor, then the Sandstorm deal would make Bachelor unatractive for any one seeking to control the Bachelor project.

In the alternative, my concern over selling Barry, is that all the company's financial resources are presently committed to delivering production at Bachelor.  I agree that some drill results should be pending from Barry, since the 25,000m campaign was announced after the 2010 43-101 results.  However, I doubt that MTO is yet in a  financial position to find economically avaialble resources in order to maximise drilling at Barry, which would be needed in order to further define the site and therefore attract a good price from a major producer.

Forg, as you indicated previously, it is all about developing projects at a time when MTO has great difficulty in raising cash at a fair price for existing shareholders.

I hope that when the directors get around to reporting on company strategy, they report how they plan to advance the Barry project with financial resources.  A Barry option could be based on an earn in by a major, in exchange for exploration funding.   Unfortunately, we can only guess, without all the information available to directors.

Thanks for your comments.