Post by
Micanushi on Feb 11, 2016 8:27pm
Metenor and it's on-going deficit.
page:6
https://www.metanor.ca/media_uploads_en/Metanor-EF-Anglais-31-mars-2015.pdf
For the period ended March 31, 2015, the Company generated a loss of $4,686,552 and has a deficit of $67,739,158 as of that date. In addition to its current working capital requirements, the Company must obtain additional financing to meet its commitments and obligations in respect to its exploration and evaluation programs, its funds reserved for exploration following the issuance of flow-through shares and its long-term debt contractual commitments
Comment by
BenderAlex on Feb 11, 2016 10:35pm
That was march 2015.. They paid off the loan, and got 2 PPs.. In that period CAD was relatively strong, and gold went down from 1300$USD to 1150$USD.. And now it`s 1250$USD and 1730CAD$, so do your calculations... At these prices, no matter what management will do, they will still be in profit.... (nothing insane of course)
Comment by
Micanushi on Feb 12, 2016 5:29am
Wasn't highlighting the loan. page 6 states a huge deficit the Metanor has on-going and growing everyday. I was highlighting the deficit of $67,739,158
Comment by
BenderAlex on Feb 12, 2016 6:19am
But metanor is a junior mining company, plus the management suck! With the gold price like today, Metanor has good future (or a takeover, which i think is also good, especially by OBAN)