OTCPK:MEAOD - Post by User
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stocksnthings1on Sep 23, 2016 8:37am
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Metanor Resources Aims For 2017 Startup Of Barry Project After PEA
Friday September 23, 2016 08:18
Ghislain Morin, president and chief executive officer Metanor Resources Inc. (TSXV: MTO), says the company so far is aiming for startup of the Barry gold project in Canada next summer after a “positive” preliminary economic assessment. The PEA lists a net present value before taxes of C$53.5 million and after taxes of C$25.9 million, with capital startup estimated at C$8.5 million and a payback of 0.71 year at a gold price of C$1,560 an ounce. All-in production costs are estimated at C$1,114 (U.S. $891) per ounce with life-of-mine output of 193,457 ounces over nine years. Average output is projected at 21,495 ounces with up to 37,573 in the second year. “We point out that the deposit is located on a mining lease previously granted, the deposit is ready to be exploited, and it has the potential for expansion,” Morin says. “Moreover, there are no steaming agreements covering the Barry project. We will be moving quickly with startup planned for the summer of 2017, following a feasibility study which will include current drilling results. "
https://www.kitco.com/news/2016-09-23/Metanor-Resources-Aims-For-2017-Startup-Of-Barry-Project-After-PEA.html