Metanor Resources MEAOD

Order filled

[tsoprano1]

Bought MEAOF at .0379. Weak sisters are STILL out there. I have been involved with overhangs before but this is the mother of all overhangs. If anyone talks to management, that might be a question to ask. They must know who has this many shares and is selling. 

T

[Maxmoe]

The flo thru financing in the spring is the problem. As I said marquest runs a fund of illiquid penny mining stocks like every other flow thru fund. They have to sell whatever they can to fund redemptions. That means good companies like Mto are the first to go because they can not sell the sheet stocks by the millions at any price. That wall according to the press release for the financing is 35

[tsoprano1]

Unless a company is broke, management and BOD should be flogged for using this method. I am not too keen on the Sprott deal either. Giving away 20% of your gold for $500 is ridiculous. I would hope we are strong enough to not have to ever do these deals again.  T

[wind00]

T..... I totally agree....... this is out of control

[Maxmoe]

I wouldn't be too hard on them. It's very very difficult to raise money to drill holes. Especially $ millions if you are a penny stock. If there was another way, I'm sure management and the board would have used it. The only other options were to wait perhaps years to sell enough ounces to pay for drilling or to do nothing. We would howl if they did nothing. I agree it is very

[wind00]

good post Max, thx. it's much easier to complain, and that is what many posters here do. I like and support MTO and mgmt, but this is getting a bit out of line. we have traded over 100 million shares in this price range. they needed to do the financing to keep the co. alive, but I say enough is enough. after getting us into this situation, they better do something to get us out. I don'

[JRaffles]

If Metanor needed to raise $20,000,000 for mine development today, the share issue route at a price of 5c would be a 400m share dilution. The choice was similar in 2011, either dilute shareholders out of existence, or give 20% of gold output for the mine capital. Therefore, the choice today would be, either lose 50% in dilution, or give 20% of output for the £20m capital and get a $500 an

[Geodan2]

JRaffles, do they need the $20 mill?  They are cashflowing decently now.

[JRaffles]

They are cashflowing decently now. Exactly ...... the board should not consider any PP at 5c, even if the cash return would be high ...... but fully drill out the new vein using cash generated from operations. If the vein is open pit and the investment payback is less than two years, then some debt instread of equity could be an option. A line should be drawn under share dilution, whilst the

[Geodan2]

JRaffles, thanks good to hear there is no immediate need.  They may be able to boost MEAOF 3-5X with Surprise vein.  If they want capital to develop it, Wait till they have people dying to fund it, which will be the case if its as good as some indications it is.  There is no rush, they may be able to fund at less than half the cost 5 months from now, than today.  Being its on

[wind00]

thanks Max.... confirms the info I received The flow-through/charity scheme is completely above board and there are several funds specializing in it. I am not a particular fan of flow-through to begin with but in these times we cannot be so picky. The good things about the flow-through charity scheme is that it gets the shares into someone’s hand who actually wants to hold it for the investment

[u2bob]

I think we are past the flow through stage...but to each there own...I will watch trading patterns  from the start of this morning it looked like we were going to move up then the wall came in at a nickel with Dundee now will watch for a switch to Anonymous....something stinks and its not flow through...IMHO ! Good luck Bob