Metanor Resources MEAOD

Metals & Mining Gold Industrial Metals & Minerals

Metanor Resources Inc is engaged in the production and sale of gold as well as acquisition, exploration, and development of mining properties. It projects include the Moroy Project and Barry project among others.

OTCPK:MEAOD - Post by User

Metanor Resources > Thank you Mr. Stettler -

<< Previous

Bullboard Posts

Next >>

Comment by mstettleron Sep 25, 2016 12:12pm

79 Views

Post# 25275507

RE:RE:Thank you Mr. Stettler -

longshot52 wrote:
My wonderment ?
Is 8000 meters sufficient ?
Will it add enough ounces ?
Should they be drilling 60k - 80 k meters ?

No 8,000 meters is not suffient to convert the inferred to M&I
No it will not add enough ounces.
Reverse circulation drilling averages around $200/metre so 8,000 metres is $1.6M give or take.

80,000 metres would be around $16M

To put into perspective Osisko in 2007 on their Malartic property dilled 330,000 meters over a 30 x 30 meter grid covering the entire deposiy to convert the inferred to M&I, that is $67M in todays $. Windfall's drill program is 150,000 meters costing $30M, and that is just to start with.

OSK will buy Barry if it make sense and the price is right. Sean Roosen is a hardnosed negotiator who manage to get $4.1 Billion for Malartic and extra $1.6 Billion from the original hostile takeover bid. MTO will be lucky to get $20M for Barry given the insitu value of the ounces.