Like a hare to a snare.... did someone say debentures?Like a hare to a snare - tethered by its whiskers.... Sometimes, so it is... with a stock.
Snip the whisker, and let it run... lol
This stock reacted to drill results and the mention of a reopening of a pit.
This stock in my opinion - hasn't even budged on the gold prices rising...
Its caught by a hair... please snip it... lol
Now.... Let's probe the pit..
With a PEA - on its way for - Barry ....
I'm thinking - will it even need a feasability study ?
The PEA - will announce how much gold, right?
Then what's stopping them to jump start the pit - and begin brining the ore to the Bacheloe Mill?
Its a pit... above ground, and more importantly - it was in operation just a few years ago.
Did it have already feasability study., back then.. if so - or - even if not... the fact remains - it was being mined, not that long ago.
Sometimes, i find mining companies, proceed in a manner that negates the timeframe in which to begin... too much boardroom chatter, meeting after meeting, study after study, report after report, and sometimes they need a mad hadder rebel - walk in the boardroom, and with a tenor voice say, well suits... are yu into mining, or just like talking about it ?
Again, say it... squeeze your cheeks and repeat...
its just a pit... Sand and gravel and pond skipping rocks... So, get the backhoe, and a team of men, get the trucks, pinpoint your first target zone of the pit,,,, and get at it.... lol
Why?
Debentures are a coming due.... So expedite the PEA - and if the PEA - won't be due til lSeptember-ish... then if the Pit is already permitted, and it was mined before, why not jump start it - dip into the cash kitty, and get a back hoe - and cntract out a few tandems with double trailer - and begin transporting the ore.
So, i did read today... an amazing report, a former report, but it gave the logistics on Metanor...It was a PDF... and it stated Metanor's - cash cost - and the - all in.
What struck me wilth a sense of - slap happy silly - was the fact it said...
1)
Metanor owns the mill clear title and has total
infrastructure and equipment that would cost over $200 million to replace today
,
2)it has plenty of high grade gold in the pipeline,
3) Metanor appears to be able to operate profitably on EBITDA basis
(with quarterly ounces of production expected to be over 10,000 going forward)
,
4) Metanor is yielding solid metrics in an environment
where it operates in affordable Canadian denominated input costs and derives
~
CND$1,500/oz of gold (its cash cost (assuming normal operation) are listed at
~ CND $873 per ounce , its all in - sustaining cost are ~CND$1,123per ounce sold.
________________________________________________________________
The above example in the report - was using $1500 spot gold...
Uhm.... were @ $1700.... spot gold... $200 savings... = $200 bonus.
And i was thinking... the all in cost figure = $1123 is with Sand Storm's - 20% grab, right?
Uhm.. how come no one speaks about - the fact that Barry was ever mined again... it will not have a 20%negative attached to it - with a stream - and if the Bachelor cash cost is - $873 - how much cheaper will it be for the - Barry Pit ? Hello.....!
1 - Gold is far higher
2 - no stream if Barry is mined - right to market - full price
3 - Cheaper to mine pit - than Bachelor
So - next subject....
Why are so many thinking a buyout could come from the outside ?
I'm thinking...MAYBE INSIDE ?
With a 13 km strike potential - multi million ounce potential - i'm sure theres one name that comes to mind... lol - An Eagle who has talons - one that Ribboned in Silver the other Guilded in Gold.
Which brings us to - who has an interest - a very large interest ?
Who just added shares this spring - lots of them?
Who own's 20 million worth in Debentures?
Who just reshuffled their portfolio - swapped some shares with another big name - jumped in thier stock - the other player jumped in the other's stock - and the one in question - freed some capital up - that one someone - need i remind - has a hefty interest in Metanor.
Play the guessing game... do you know who ?
Cheers !