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Metanor Resources MEAOD

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

Post by u2bobon Oct 24, 2017 5:45pm
124 Views
Post# 26853029

MTO will be just fine going forward...

MTO will be just fine going forward...

I would bet the reason the NSR was done is because of the amount of gold
that is still below Bachelor and area...it was a win win for both parties and lets 
SSL be part of something bigger as the area play grows...not just a 1.15 flip like 
some here think...if you look at what the money boys did wihn Kirkland Lake now
paying a dividend ...there not about to give away MTO for nothing cash in hand
mill in hand and potential takeover targets in site ...thats how the big boys make
money...bash/pump will not change how these big guys go about there buisness only
retailers will scare...remember this is Canada not Colombia...lol...


Metanor poised for profitability

 

 
 
 
 
 
 
Patrick Rodrigue patrick.rodrigue@tc.tc 
Posted on October 23, 2017
 
 
 
 
 
 
 
ft-23102017-metanor_mine_bachelor_forages.jpg

Metanor has undertaken a compilation of historical data available for all properties surrounding the Bachelor Mine to identify targets for future exploration work.

© Metanor Resources

If the trend continues, Metanor Resources should soon return to profitability.

Publicity 
 
 

For its fiscal year 2016-2017, which ended June 30, the Val-d'Or mining company reported a net loss of $ 404,245, 18 times lower than the net loss of $ 7,319,624 recorded one year earlier.This significant improvement comes in particular from the sale of 36,620 ounces of gold. This represents an increase of 8% from the 33,890 ounces of ounces sold in 2015-2016. These transactions resulted in net revenues of $ 56,292,643 compared to $ 48,313,864 a year earlier.

Gold production, mainly from the Desmaraisville Bachelor Mine, totaled 34,853 ounces, a 4% jump from the 2015/2016 production of 33,450 ounces. The grade improved slightly from 4.6 to 4.7 grams of gold per tonne of ore. As for production costs, they were reduced by 16%, from $ 1212 to $ 1021 per ounce.

Marked increase in exploration

Metanor also spent $ 5,590,125 on exploration work during its last fiscal year. This corresponds to a 38% increase over the $ 4,051,739 invested in 2015-2016.

A total of 17,815 meters were drilled on the Barry property, particularly near the pits. Gold grades ranged from 1.5 to 14.8 g / T. "The potential for underground mining of new gold lenses remains excellent," the company said. The next phase of exploration will consist of definition drilling. "

In addition to drilling on the Moroy property, Metanor also undertook a compilation of historical data available for all the properties comprising the Bachelor block. The goal is to identify areas for future exploration


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