Metanor Resources MEAOD

NEWS- Metanor Increases Drill Program for South Zone

[JMN]

Metanor Increases Drill Program for South Zone and Undertakes Private Placement

VAL-D'OR, QUEBEC--(Marketwired - Oct. 30, 2015) - Metanor Resources Inc. ("Metanor") (TSX VENTURE:MTO) announces that it has undertaken to complete a brokered private placement and will be offering, through Secutor Capital Management Corp.: i) a maximum 40,000,000 units priced at $0.05 each, which consist of one common share and one common share purchase warrant having an exercise price of $0.065 and a term of 36 months, for maximum…Read More

[goldminer01]

This post has been removed in accordance with Community Policy

[Wolfin13]

Financing really was not required.........here is why !!! https://sectornewswire.com/release103015mto.htm   Overview of Metanor:    Assets-wise: 1) Steady cash on hand ($4.4M in its bank account and 785 oz of gold stored at the Royal Canadian Mint (as declared in June 1, 2015 news release)); 2) Positive working capital, book value at $56 million (>$0.15 cents per share), and

[miketrike]

@Wolfin Read the disclosure in the following link. Sector Newswire are just paid pumpers. https://sectornewswire.com/additional_disclaimer_and_disclosure.htm

[Wolfin13]

Miketrike....thanks....but I was looking at the info on their cash in the bank in this article...........unless it was all BS.............. The only way this will turn around is if their drilling gets lucky and hits long intercepts of HG gold from surface through the 600 level and further below to confirm a whole new large Gold zone.... GLTA

[Matagami]

I have a great difficulty to believe they dont drill in sequential order their holes. This is not a standard but generally that's what everyone does. Remember that they drill there since August and we are at the end of October and they even said they could drill fifty holes in a few months. They also said they had several samples of various holes in the lab waiting to be analyzed. It's a

[u2bob]

Nov 25th is comming quickly should be some tuff questions ...and I still think they had to have something good to sell this PP on ...we shalll find out soon enough ...

[Matagami]

I've never been to one of these meetings and I wonder if there are many people who go there. Enough people to vote and change something.

[niceguy767]

1. The financial numbers quoted by sectornewswire are included in a  June 1/15 NR, which means they are probably March 31 numbers, some 7 months ago and most certainly include the cash raised in the PP around that time. My guess is that the numbers as at Sept 30/15 will show a huge deterioration from those quoted. 2. A $56 million book value implies that you can mine profitably, something

[pdcon1]

just a few misguided statements  , the mill is not worth zero  its generating a lot of cash and to replace it  probably 10 times the 56 million . New Gold just spend 850 million on a mill in RainyRriver  Further more MTO doesnt have a pay back time or has to recoup hundreds of millions of dollars , the mill is paid for . Any new development of future gold mines without a mill

[JRaffles]

If the debt free mill was sold for, say $20m cash, none of these proceeds would go to Sandstorm. What would Sandstorm do in this scenario, as they would be on the verge of losing their gold stream. Metanor's board could hardly rejct such an offer, as they seem hell bent on dissipating shareholder equity by retaining the mill.

[niceguy767]

I beg to differ pdcon1 - no misguided statements: 1. One needs an ongoing supply of HG gold to mill to be profitable. If unprofitable, it's a matter of time before one mothballs the mill perhaps for good or until POG makes it worth while. If neither of those events occur, the mill's value is zero. Yes we hope that Hewfran is huge and HG and yes we hope that POG runs up in price

[LiTeOn1981]

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[pdcon1]

No speculation here just that asside from management  if there wasnt anything positive here i wiould of sold a while back. Not just mto but the market is destroying most gold miners and they all took a share price hit . Monday gold traded at 1180 a few days its back down to 1140  , what will happen next week back to 1180  or under 1100  , nobody knows the uncertainty of golds

[Matagami]

Almost 90% of their press release is dedicated to the publication of good drilling results and we still do not have new resources. These press releases are there just to maintain false hopes. We are long dead. I believe that the new zone is simply BS