Metanor Resources MEAOD

RE:RE:Jay Taylor is an idiot

[mstettler]

' This will be at least  an easy 3 bagger and possibly an awful lot more depending on how it is played.'

That is possible, but it will take a higher gold price to do it.  In which case take your pick from any producer; they will all be more or less the same amount higher.

I have shares in RIC as well as CRJ.  Both companies actually have earnings at these gold prices.  In the case of RIC, they discovered a new high grade zone underneath their existing island gold mine workings a couple of years ago.  Analysts were falling all over themselves, proclaiming that this new discovery could add 4 million ounces.  Two year later and we've added 650K oz.  Not bad at all, but nowhere near 4 million.  

I bring this up because people need to temper their expectations.  I still like MTO, I have for years.  But they are so saddled with debt that nobody would risk giving a loan for a measly couple of million to drill.  They had to dilute the company by 50% (I am still unhappy about this).  Management has gone all in here, if they don't come out with a decent resource, which is still probably a year away, they are done.  MTO is done.

RIC and CRJ have strong cash positions and almost no debt, never mind a streaming deal.  RIC still has high grade exploration upside at island gold.  I guess all I am trying to say is be carefull not to fall in love with a company, and especially not a marginal one.