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Metanor Resources MEAOD

Metanor Resources Inc is engaged in the production and sale of gold as well as acquisition, exploration, and development of mining properties. It projects include the Moroy Project and Barry project among others.


OTCPK:MEAOD - Post by User

Bullboard Posts
Comment by JRaffleson Jul 22, 2012 6:53am
226 Views
Post# 20139461

RE: You want positive.

RE: You want positive.

this last >6g/t bulk sample shows just how badly the truth has been stretched.   @ 2/3 mill capacity (Still not operating?) 6g/t x 800t is only 4800g per day.  At 150oz x 365 days you only get 54 750 oz/year and nobody (especially these clowns) operate 24/7/365.  That's 10% less than what was promised three years ago.  Considering the considerable downside results and continued "over estimation" of news releases 40 000oz is more realistic.

In previous posts you seemed to be concerned that the directors had “wasted” resources by upgrading the mill to a capacity of 1200 tpd.  However, it could now be said that they had been far sighted by providing the capacity that could produced their target ounces …… even if the actual grades were lower at particular sections of underground ore…… it may be 12gt elsewhere in the mine?

Metrics for BL, assuming:-

  • 6gt average grade
  • 300 production days per year.
  • Mill capacity 1200 tpd

Gold Production:-

  • 7.2kg gold per day
  • 2,160 kg gold for 300 production days per year
  • 76,032 ounces of gold per 300 day year (2160kg x 2.2 lbs x 16 ounces)
  • 60,825 = Metanor’s 80% of gold ounces.

Therefore, @ 6gt with the mill on full capacity, shareholders would be budgeted to receive 60k ounce of gold per annum, instead of ~ 50k ounces if the mill was operated on only 66% capacity, which was the pre feasibilty budget.

 

Could it be that BtrevB’s next concern may be that the directors may be head hunted for their preparedness for any eventualities?

 

 

 

 

Bullboard Posts