Metanor Resources MEAOD

RE:RE:NEWS- Metanor Increases Drill Program for South Zone

[niceguy767]

1. The financial numbers quoted by sectornewswire are included in a  June 1/15 NR, which means they are probably March 31 numbers, some 7 months ago and most certainly include the cash raised in the PP around that time. My guess is that the numbers as at Sept 30/15 will show a huge deterioration from those quoted.

2. A $56 million book value implies that you can mine profitably, something that has eluded MTO as long as I have followed them. The mill is worth "zero"  otherewise.

3. No management team sells 1/3 of its company for $4 million unless that is a last resort. I suspect that MTO management exhausted all other avenues, including the Quebec government, before having to cave in on the terms of the latest highly dilutive PP.

4. it is exceedingly difficult to attract funds with an ongoing record of coming up short no matter how blue one paints the sky.

5. As mentioned previously, here is hoping that MTO can pull a Hewfron rabbit out of the hat.