Metanor Resources MEAOD

RE: Thanks JR

[JRaffles]

What do you feel the value of Barry is now that it will need several million in remediation, dewatering, road construction, concentrator costs, etc.

If capital is made available to take Barry to production, then Metanor could see a good return on what it has already invested.  However, attacking the project piecemeal with expensive PP’s and unknown dilution is a recipe for disaster. I recall an interview with Pierre Lassonde when he said that he will only enter a project if all capital is raised / committed up front, otherwise the first in always gets exploited by subsequently lower priced PP’s. Metanor’s management should focus on assembling a Barry camp in order to achieve significant capital raising or alternatively enter into a JV with a company with a track record in major developments.  It does not help that this is a first in mining management by key board members ….. Serge Roy, in particular, has a background in construction and it has therefore been far more difficult to convince investors that the company has the skills to deliver a mining project…. Tris Coffin is an optician …... It is perception rather than only the ability to deliver that seems to have been the problem for Metanor.  

 

When Metanor reaches target monthly production, if the SP does not improve rapidly, then blocks of major shareholder could welcome a bid.