Metanor Resources MEAOD

MTO - Juniors That Can Deliver the Goods

[nor_easter]

Link:
https://www.caesarsreport.com/blog/juniors-that-can-deliver-the-goods/

Juniors That Can Deliver the Goods

If investors are looking for a near-term commercial producer, I visited Metanor Resources Inc. (MTO:TSX.V) earlier this year, and although the company has had its fair share of bad luck, it is currently ramping up production at the Bachelor Lake gold mine in Quebec. This is an underground operation, and the company is opening up more and more stopes. But investors should be aware that this isn’t really a linear process.

• TGR: What grade is it getting?

• TL: Between 5 and 7 g/t.

• TGR: When will Metanor go into commercial production and what will the production costs be?

• TL: At this point, Metanor is still offsetting the gold revenue against the underground development costs. I hope to see declared commercial production in December of this year or early next year. Metanor is aiming for a cash cost of less than $1,000/oz, but proof of the pudding will be in the eating.