Metanor Resources MEAOD

Headline: Metanor Reports its Financial Results for the Quar

[wind00]

Headline: Metanor Reports its Financial Results for the Quarter and Year Ended June 30th 2015 (mwi)


https://www.stockhouse.com/News/NewsRelease.aspx?storyId=80179814

[wind00]

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[niceguy767]

Those results just might explain last Friday's and  existing share price weakness. Just keep coming up short. Been hoping that they were turning the corner for thew past 5 years, but "hoping" it seems is the operative word. Let's see how many ounces were produced in 1st quarter ending Sept. 30. If 10,000 oz's plus, the strengthening POG might loosen the financial

[wind00]

sadly, I agree with you. never expected these results.

[wind00]

after looking over the financials again I note that there is depreciation of 13 million, so there is an actual profit. but they can't mention that, had to notice it myself. FWIW

[dutchgoldd]

I thought they had $1million plus 785 ounces gold??????????????????

[wind00]

these things change all the time. they don't produce gold to hang on to it, but more is produced every month. we can expect more drill results any day, maybe tomorrow. another positive release sure would help.

[pdcon1]

according to the financials there were  over  55 million in gold sales  operating costs with royalties around 43 million  the big loss comes in at depreciation and depletion of 13.133 million that gives them a tax loss of 6.265 million  paper loss not actual cash loss . Not as  bad as it seems as they still have cash on hand and dont owe any  taxes and 

[tsoprano1]

Glad you and wind pointed out that 13.3 mil depreciation. Don't feel so bad now. Just expecting to see a 4 th q profit and saw loss and said screw it. Cooler heads prevailed. Thanks. T

[pdcon1]

that financial report was  fiscal year ended june 30 th  they say the next quarter will be higher grades. all in costs of 977 U.S.  with a 1.57 million loss , spending money on more drilling i presume. Next quarter they should do better with higher grades . They must have cash and gold oz stored at the mint  , they may have to sell it. They made loan payments all year and paid

[u2bob]

Wind I think to many people were thinking because the loan was paid off that would be reflected in the numbers but we will have to wait another Q to see that ....also the dollar exchange will be even reflect a little lower next Q ...as well my guess is by the time these things are reflected in the numbers this company will be taken out ...if not already for sale ? Best bet start cherry picking

[niceguy767]

Good point wind. I haven't broken down the financials yet. If cash flow remained positive in the June 30 quarter, the financial situation may not be so dire as appears at first glance as long as they can keep producing over 10,00 ounces per quarter. Sure hope they don't come up short on production in Q1.

[Geodan2]

Wind, it looks cash positive to me but it is a loss profit wise. Fortunatley Stockhouse maintain formating, so results below. The bad, their operating costs went up a million and depreciation up 400K, besides that about same as 2Q. So they are cashflowing. For Q its 3.4 mill depreciation. There all in sustaining cost is low which should mean a profit, just not cashflow. Its not a disaster

[Geodan2]

Any accountants out there?  All-In cost of $1,221 per ounce sold in Q4 (US$977/oz at an exchange rate of US$0.80/CA$1.00).   Its not just MEAOF, lots of gold companies say their AIS cost is $200 less than than gold price (right now) yet do not report profits.   Any good explaination of that? Cashflow wise it looks like 1.5 mill positive cashflow, removing 3.4 mill depreciation

[LiTeOn1981]

This post has been removed in accordance with Community Policy

[wind00]

operating costs should be lower from now on. better grades and loan just paid off. have you seen this report... https://sectornewswire.com/release082115mto.htm

[Wolfin13]

Recommendation 1) Thibaut Lepouttre of mining and commodity research BVBA firm Caesar: click to view new BVBA advisory "In light of all the positive aspects and pending catalysts mentioned in the present report the share price might well have suffered too much (especially

[Geodan2]

Thanks for reports, did see Taylor one.  The question is why when All In costs are $100-200 less than gold price, they are not making a profit.  AUY used to show wonderfully low AIS costs but lost money too. It is a question best answered by an accountant or similiar. This Q report is not terrible.  I bot heavy based on "Surprise" vein being a good gamble.  If its

[LbinLoL]

The reason they didnt make profits is because of the deal with sandstorm, they do not count in the all-in cost the 500US$ 20% gold they are selling to them. But who really thought they'd made profits during that quarter !? I remember calculating meticulously if they were under during those montha and my callculations (including sandstorm deal) were pretty much even with the gold price at that

[LbinLoL]

Correction: not 15-20mil$..1,5-2,0mil$

[wind00]

you said... this is the reason drilling is focused on Bachelor right now. mine life extention will be significant if good drill results so far will continue.

[LbinLoL]

Yes I know wind.. but for now the mine life is not extended. So they dig all around to find more gold.. so saying there is gold or not is speculation (risk). Gold must absolutely not go back below 1300can$, if it does and mine life havent been extended, id sell everything.

[LiTeOn1981]

This post has been removed in accordance with Community Policy

[pdcon1]

Lundin mining and goldcorp both declared losses as well but their  cash on hand was declared  positive , seems all of this is priced into the share price already. What does a major do now acquire more property to increase gold oz or drill , seems the best way is to acquire a producing mine as opposed to building a new mine that could cost 1 billion dollars or drilling where there is no

[Maxmoe]

How nice somebody wants to hear from an accountant. I've been called mr doom, mr no, buzzkill lightyear to bankruptcy and beyond! When any mining company refers to cash cost they are referring to current out of pocket cost. All in cost or sustaining cost would add cost of replacing supplies and equipment which are on the balance sheet but depreciated, not expensed as an operating cost

[Geodan2]

Thanks Maxmoe.  That does help, So General and Adm cost is not in AIS cost, thus why no profit. But being depreciation is high, they are cashflowing.

[Maxmoe]

Yes they generate cash and cash flow is king. 

[tsoprano1]

Max, thanks for explanation. Bottom line, did you like report? You a buyer, seller or holder right now? T

[Maxmoe]

The report is ok but not a game changer. Drill results are very important here not just financials. I own it or I wouldn't bother reading a bullboard. Why would anybody? The conspiracy theories I read on ALL these boards, not just MTO, are entertaining I suppose. Let me assure you as a former 25 plus year baystreeter 99.9% of the paranoid musings and grandiose schemes just don't

[dutchgoldd]

god morning wolfin 13, I am consulting you because you seem to have a good reputation as well as seem to be quite knowledgeable. how do you assess the financial report?? thanks in advance, dutchgold.

[tsoprano1]

Ouch. That certainly explains selling. These guys are bigger f$&@ups than I thought. Hard to believe they couldn't show a profit in 4 th q. Need to replace top guys and BOD. Any financing from these dimwits will be enough to get me out. Will hold for now and hope for something positive from new hole, but my confidence in management is severely shaken.  T

[tsoprano1]

Also explains why no insider buying. Why bet on yourself when you know you are inept? And as far as getting big buyers, I think we can forget that for a while. Very depressing indeed. T

[niceguy767]

The June 30 financial results are disappointing by any benchmark and raise the "viability" issue once again and cast a dark shadow on the bevy of positive NR's in the interim. Unless MTO can either pull a rabbit out of a hat by posting Sept 30 production numbers that support a reversal of the negative June 30 financial trends or produce assays that tangibly support the potential of