Metanor Resources MEAOD

RE:MTO ?

[fruitvale3067]

1) Well lets pick a few of these items.

"Steady Cash on Hand" - It might be steady, but there isn't much of it.

2) "1.6 million ounces gold global resource in all categories (on all properties, two of which are permitted mines (Bachelor and Barry)."

Yep, however only one property is currently mining, and a resourse estimate hasn't been updated since MTO started mining it. So no one knows how much is left

3) "Metanor’s remaining convertible debenture has been paid down to $9 million outstanding and the term extended to August 2017.

Yes it was extended, do you think that will happen again? They have 5 quarters before it's due (see answer to number 1 above).

4 " if management can start to grow this company with internally generated cash funds and increase production from Barry, an upside considerably beyond US$0.10 is possible.

 The word "if" and "potential" are used twice each in Jay Taylors write-up. Last time I checked "If" doesn't mean it will happen. 

5. The rest of the stuff is nice, but as I have said before those drill results haven't added a penny to the bottom line and the bottom line is where the trouble lies. 1.6 million ounces of gold in the ground and no money to divert extra resources get it out. Plus 9 million coming due in 15 months.
 
Mr Taylor is correct when he states "If management can start to grow this company with internally generated cash funds". With If being the key word in that sentance. 

As for next 6 months I've posted comments already. "if" (I hate that word) Barry gets going it's late summer early fall best case. I'm not holding my breath though. 

I was hoping they could mine there way out of it, the payout to shareholders would be greater. As far as buyout goes, it's possible but with no compliant resource updates the sale price take a hit.

So as the famous quote from the movie Moneyball goes: "Which would you rather have 1 bullet to the head or 5 to the chest".