Metanor Resources MEAOD

RE:RE:Wow...Now that's how you do it...

[longshot52]

MTO is ripe for picking. The stock is cheap, Sprott ownes shares of both, you have an operating mill, grades are increasing at Hewfran, they are about to post the best quarter in over a year and a half, you have a Barry PAE about to hit, you have a new known deposit at Barry, and the company is promoting itself as a acquisition target. What's not to like right? Osisko could have simply bought/merged with MTO for the $27.5 million they just issued shares for but no, they decide to drill Windfall Lake instead

Osisko's plan for Windfall and the surrounding deposits call for a much larger operating mill that is not 60+ miles away by gravel road. The Barry deposit is currently worth at best $20M - 310,000 OZ/AU Indicated at $52 EV/OZ ($40 USD) = $16M + 470,000 OZ/AU Inferred at $7 EV/OZ ($5 USD) = $3.3M for a total of $19.3M/522M Fully Diluted shares = 3.7 cents/share of MTO. Once the new PEA comes out the deposit could be worth more than $20M.

Reasons not to buy MTO outright:
The Bachelor mine has not been profitable because of the crippling stream deal.
It is running out of local ore at grades to profitably keep it running
They have outstanding debt
The cost of mothballing and care and maintenance going forward once the mill shuts down

Reasons to buy MTO:
They have some tax credits.