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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

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Comment by Margreton Apr 02, 2013 2:19pm
124 Views
Post# 21199837

RE: RE: RE: RE: RE: Sherlock Holmes for Gold dore/

RE: RE: RE: RE: RE: Sherlock Holmes for Gold dore/

The Norther Miner article said it was due to both grades and trucking:

https://www.metanor.ca/media_uploads_en/02266-Metanor-Resources-reprint-TNMOL-Jan-11-2013.pdf

"While the mill turned for Barry ore for roughly two years, declining grades combined with trucking costs of $22 per tonne led to the shuttering of the pit."

"“We were increasing capacity to balance out the declining grades but eventually you hit an inflection point and just isn’t economic any more,” Perry explains."

As well, i've seen videos where they mention both as causes.

 

You were saying they were mining Barry at 1g/t, now you give a news release saying 5.23g/t.

Like i said before, the big difference between Bachelor and Barry is that Bachelor had a pre-feasibilty study done to show positive economics and a measured reserve amount (proven and probable). Barry didn't have a pre-feasibility study done and didn't have a measured reserve, so the economics were not certain. They were flying by the seat of their pants for Barry and mining the high grade stuff until the grade dropped. They may have been doing that just to get fast cash for Bachelor.

You can't be certain Barry wouldn't be profitable with a larger mill like Osisko until they do a feasibility study to show that it is economical, and with exploration drilling to increase the resources for high tonnage low grade processing. Hopefully management have learned that at least a pre-feasibility study should be done first as was done for Bachelor.

The neighboring properties have shown high grade drill holes, so collaboration or acquisition of them can help.

 

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