Metanor Resources MEAOD

RE:RE:RE:RE:RE:RE:Major share holders

[Bean_and_Dunn]

The debt is due Aug 22, 2017. The amount is $9 million.

This private placement will raise $7 million.  More if warrants attached are exercised.
MTO had 3,093,255 in cash at Dec 31 2016.
Together these 2 amounts are more than enough to payback the debenture.

They are generating income of at least $2 million per quarter. Cash generation is even higher than that amount at $3.3 million. MTO revised their gold production for the year to between 30,000 and 36,000 ounces. Why did they do this? They are mining the Hew Fran which has higher grade numbers. This means that they mine the same amount of ore but extract more gold from each tonne. This means that they make more profit from each tonne milled. According to the original     43-101 the Batchelor mine reserves would have been exhausted this year. Well it won't be, because of all the exploration drilling they have been doing the mines life expectancy will go on for several more years. I am eagerly waitng the new reserves and resources update. It cant come soon enough. 

MTO will update their feasibility study in the near future. Gold reserves for the BLM (Bachelor Lake Mine) will increase notably. Just look at the drilling they are doing 18,000+ meters in the last quarter 37,000+ in the past half year. This updated reserves/resource will have the effect of lowering their depreciation costs and increasing their profits. 

The Moroy property is very interesting. It looks large.

Then there is the Barry property which has a pay back of 8.4 months project from a lower gold price than present.

Then there is that one lonely drill hole at Moss of 70 grams over 2.6 meters in line with Osisko's Winfall property. Wow Osisko has 12 drill rigs on their property versus only 2 on MTO's. With 12 rigs do you think that Osisko is just drilling for show or do you think they really believe there is a real deposit nearby?

Best of Luck to the longs, I am with you.
B&D