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Bullboard - Stock Discussion Forum 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 Discussion

Metanor Resources > All-In cost of $1,395 per ounce sold!!!
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Post by sapiensunus on Feb 27, 2015 4:51pm

All-In cost of $1,395 per ounce sold!!!

Pleased to announce it!

Should of had this information long ago! Good managemet would have given an accurate figure to shareholders years ago.

This mine was given up long ago because of grade issues. This is what everyone here who knows about the industry is trying to say…. Yes they got it up and running again, but at what cost? The QC can only give so much and management’s attitude towards the shareholder is “heck… they have extra cash let us collect it”.  My best advice to everyone here is to track mining management that has proven that it cares about the SP (by the price action over a few years) and if good buy it. Sure… you can put it here because of “perceived” value, but how long do you wait for these guys – most of which are ready to retire… The way they are acting it’s like that’s all they want to take some cash and sell. The problem is nobody wants it and it shows.

When was the last time they even tried to buy back stock? They should have started a plan last year if the mine was as good as “they” say. My guess is that the mine may be good, but Ron has yet to go down with the pick and shovel and mine it. Maybe that kind of management needs to work here instead of the one they have. They have other interests controlling their actions.
Guys… forget the speculation here. Although it could still happen at Gold $2000 (inflation of course) this company needs to see that “lofty” price to justify management’s income. Look at Rogers Sugar – not so well managed, but able to pay a dividend. Would you believe even that stock is better than this one? Sugar rots your teeth!

GWH
Comment by wind00 on Feb 27, 2015 5:12pm
it was the low grade and the caveing.... thats why grade was 4.6gr it is supposed to be much improved now. around 6gr+ that is the problem when u only have 1 mine.... they need Barry to get going
Comment by LiTeOn1981 on Feb 27, 2015 5:51pm
This post has been removed in accordance with Community Policy
Comment by wind00 on Feb 27, 2015 6:36pm
grades go up and down.... it was better before the caveing, now it is better again. we will see in the next report.
Comment by LiTeOn1981 on Feb 27, 2015 7:56pm
This post has been removed in accordance with Community Policy
Comment by wind00 on Feb 27, 2015 8:07pm
we see... I don't know if they will release monthly numbers, I thought it will be quaterly now. Lite, don't forget the loss includes 3 million depreciation, that should be deducted... so really around 800,000. that makes a huge difference.
Comment by CanWllSttJr on Feb 27, 2015 8:27pm
MTO is broke, they had 1 million left in the bank account and they have to give it in the deal they just made.. so either they make it to get investment of 3 millions at 0.06$ very soon or they will use that million for the drilling campain and it will be able to give that milion in the deal. And that deal would fail, for mto to declare bankruptcy in august or before. Oh yeah they may be doing ...more  
Comment by wind00 on Feb 27, 2015 8:39pm
yes, thats the negative... and most will concentrate on that the positive is... that they have negotiated an extension of the maturity for 24 months to August 22, 2017 plenty of high-grade gold in the pipeline
Comment by CanWllSttJr on Feb 27, 2015 8:45pm
the extension is not a guaranty. They must raise that 3 millions for it to be sealed. But with their operationnal cost with the drilling 1 million doesnt last long. So if they dont raise 3M soon enough theyll have to start using that million to keep on going. So then the extension deal is off becaise they dont have the 1 million.. and they must report the court date again because if the dead ...more  
Comment by wind00 on Feb 27, 2015 8:51pm
yes, this is mining......... no guarantees. let them do the job and complete the deal and raise the funds. and here you go again with the worker accident...... IF, IF, IF this is not broke... Metanor owns the mill clear title and has total infrastructure and equipment that would cost over $200 million to replace today
Comment by Matagami on Feb 27, 2015 8:54pm
What about the repayment of the loan repayable on 03-31-15 with the government? They do not even have a penny.
Comment by wind00 on Feb 27, 2015 9:00pm
Matagami, if you think they don't have a penny you better get out now. there is no more to say. why waste your time? phone management and ask, they are all easy to talk to. I bought more shares. yes there is a risk. I am speculating there will be a nice reward. GL
Comment by wind00 on Feb 27, 2015 5:12pm
it was the low grade and the caveing.... thats why grade was 4.6gr it is supposed to be much improved now. around 6gr+ that is the problem when u only have 1 mine.... they need Barry to get going
Comment by LiTeOn1981 on Feb 27, 2015 5:55pm
This post has been removed in accordance with Community Policy
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