Metanor Resources MEAOD

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

[mstettler]

LiTeOn1981 wrote: Osisko is running their business the way it should be. 

They drill and drill and drill and drill. That leads to a nice resource estimate Millions+++ ounces, then PEA with the updated estimate. If the average grade with the amount of gold in the ground is then favourable with the POG, Osisko will build this damn mill which by the way doesnt cost 500M. 500M includes everything surrounding the mill and all the development work to access the ore.

They are not interested in Metanor's business for now. Metanor's shareprice struggle has nothing to do with price supression but rather the lack of favourable corporate material that investors would be interested in. With the current information available, this investment is too risky for most investors. Things may improve over time and this is what Metanor is expecting with Barry. Moroy is definitely not the mine they expected and will be put aside for a long while. They will keep digging the nice grades at Bachelor and Hewfran as operations need to keep going. Current POG allows Metanor to make money with the ore at Bach and Hewf which they will use to fund and develop Barry. Barry is unexplored and has real potential, the 60 000 meter drill program should have targeted Barry in the first place and is what I said when they announced it.

Bachelor and Hewfran ore is running out for sure and that is why Drills and development work has resumed in these sections. There is lots of high grade gold in this area and I dont think operations will stop anytime soon at Bachelor and with current POG, it is a priority to use extra cash to advance Barry while using cash flow from operations at Bach. Bachelor production should be kept to a minimum only to sustain operations and Barry development. Once Barry becomes up and running we should slowly reduce our operations underground at Bachelor and use Barry instead. Cash flow from Barry should be used to further push Barry, concentrator or mill, acquisition in the area, share buyback, etc. SSL will beg us to resume operations at Bachelor which we will only agree if the stream is renegociated.

How's that? Dont need osisko! Well if managements are right with Barry.... 

If you are referring to the windfall lake project, the PEA outlined 240 million in capital costs.  Most of this is for mine development.  

Not to doubt you lite, but I don't recall anyone questioning the original announcement of the moroy drill programme, including myself.  Please post a link to your statement on this.  

The original 6 intercepts from surface looked very, very good .  It was only when the first drill tables came in that I suggested they were wasting the money on moroy and should be looking at barry instead.

We still don't know that MTO is able to fund exploration of barry through the operation at bachelor.