Metanor Resources MEAOD

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

[niceguy767]

I beg to differ pdcon1 - no misguided statements:

1. One needs an ongoing supply of HG gold to mill to be profitable. If unprofitable, it's a matter of time before one mothballs the mill perhaps for good or until POG makes it worth while. If neither of those events occur, the mill's value is zero. Yes we hope that Hewfran is huge and HG and yes we hope that POG runs up in price significantly and yes we can hope that someone would pay us to mill their HG gold, but that is all we have at the momement:  hope.

Your example of a new mill costing $850 million is irrelevant as applied to MTO. Again, who will buy a mill that can't operate profitably over time. So far MTO's mill has been unprofitable over time. If MTO were to demonstrate that reserves are available that can be profitably mined, something they promised was imminent in 2013, then we have a different case. Unfortunately we still await that reserve update.

Put another way, if there were no mill on MTO property, how much would you invest in a mill on MTO today in the absence of clear knowledge of reserve levels?

2. The new $4 million PP effectively dilutes my ownership by 1/3 assuming warrants are are cashed. Yes , MTO has sold 1/3 of the company for $4,000,000..