RE: He said What? It seems incomprehensible that a public company official would misrepresent such a fundamental and verifiable fact as below (exception to bankers) ….
"Ron Perry yesterday he explained that the results of the bulk sample were delayed until after they received the certificate of approval for production."
WRONG! - the company received the permit to process the bulk sample prior to April 6, 2011. If what you say is true then the VP was lying to you.
Published by MTO on 04-06-2011
METANOR OBTAINS ENVIRONMENTAL PERMIT
April 6, 2011-Val-d'Or, Quebec, Canada: Metanor Resources Inc. ('Metanor'') (TSX-V: MTO) is pleased to announce that it received the Certificate of Authorization from the Québec's Ministry of Sustainable Development, Environment, and Park (MDDEP) to proceed with a bulk sample of 5,000 tonnes at its Bachelor Lake Gold Project planned for this Fall 2011.
Therefore, is is likely that the April 6 2011 permit was outdated for some technical reason and therefore had to be re applied for. A logical reason for this may be apparent in the last Press Release where is was stated ……..
The bulk sample has also shown a gold recovery of 97.58% compared to the 93% estimate in the pre-feasibility study. The change from the Merryl Crowe process to the carbon in pulp (CIP) at the mill enabled the mill to achieve these results using a standard particle size of 80% through 200 Mesh (74 micrometres).
Since the Carbon In Pulp mill processing today, is different from April 2011, then it is highly likely that a revised “permit to process” was required. If this, or a similar technical reason, was to have been the reason for re-applying for the permit, then management were deficient in not explaining this to investors, rather than allow investors to question conflicting statements from management.