Metanor Resources MEAOD

RE:Fact and fiction

[JRaffles]

Btrevb – if you refer to a NI-43-101 for Royalty information, which may have been accurate at the time of publication, then this is clearly unsafe to rely on today in any references on the board. 
 
The 2013 AUDITED accounts report the following (Note 7a – page 30):-

• There is an open ended NSR royalty of 1% at BL
• There is an additional NSR (0.25% to 2%) which is capped at $1.75m.  This is equivalent to about 2% on 60k ounces @ $1500 POG.  Thereafter, there is no NSR payable in respect of this royalty, which originated from a former owner.
• Also, the directors concluded very smart royalty deals during the year, by purchasing a 0.5% royalty from the above for C$0.5m and selling it for $US1.8m ….. not a bad move by RP (page 27 to Audited Accounts).

 
SUMMARY:-

• On the assumption that Metanor’s output will increase above 60k ounces in years to come, then any additional production will only be subject to a 1% NSR.

 
 
Subject to any post 2013 Audited Accounts changes