Metanor Resources MEAOD

RE:RE:No positive way to spin this latest SNAFU

[trivela]

James,
.
What you say is logical, but what is happening here is that the brokerage doing the placement - and being richly rewarded for it - has already made lots of money bringing the stock price down to the six cents level ; they will now use the proceeds to buy the placement shares.

Current share price below six cents is emotional reaction by investors that lost confidence in the company.

I'm sad with the current price, but I suspect the proceeds from the PP will alow them to start a second project in the near term, with Berry being the most likely.


After the PP closes, we should see a flurry of annoncements concerning drilling results and updated reserves.