Metanor Resources MEAOD

What has changed ?

[u2bob]

What has changed in two years since Eric Sprotts last interview on MTO ?

1 - Price of gold going up mainly in Canadian dollars so far...Sprott always about the price of gold...

2 - Ramping up production starting...higher grade ore ...which helps bring down all in cost ... March Hewfran section gets going ...also the same time Sprott starts buying open market

3 - Barry announced to get drilling ...and starting a second front for resource ...which Sprott has talked about before...

4 - Moroy shallow drill results looking good ...now trying to define more resource at depth....

5 - Takeover target

I highlighted some of Eric's comments from his interview below and when you compare his comments from then to now ...and his buying in the open market ...I'm guessing that he must think now is the time...

Two gold producing companies that are in a growth phase, Metanor Resources Inc. (TSX-V:MTO) whom you know and Veris Gold Corp. (TSX:VG). Any comments on Metanor Resources?

Eric Sprott: Obviously their production is ramping up here. They look like they've hit a new plateau. I don't know what the market cap is specifically today, but if you want to use pen and paper and just imagine a price of gold at $2,000 an ounce, and if it can get its costs all-in at $1,200, make $800 an ounce, it could be making $40 Million a year. I think its market cap is currently around $40 Million if I am not mistaken -- that gives you the dimension of what can happen with a price move. The stocks will only perform when the price of gold goes -- I don't blame any of the companies for their stock prices being down, it's really got to do with the prices of the metals and the carnage that's gone on in the precious metals market. The upside in these things is phenomenal if the price targets are met. I think it's a great bet. The downside loss versus the upside gain, you are looking at a stock that as you already suggested are almost at their lowest ever vis-a-vis the price of gold, I'm sure they are. But imagine if things are half-full here and all of a sudden we get to where the price of really should be, what are we going to value them at? The potential return, the multi-bagger, that kind of intrigues me right now.
 
On the subject of Metanor for a quick second. They also have their Barry deposit, I guess they produced out of an open pit scenarios a few years back for a while to prove up the Bachelor mill before the Bachelor mine was ready. And since then they had SGS Geostat geological firm come in and suggested the Barry deposit is comparable in potential to rival other multi-million ounce deposits such as Osisko's Malartic gold deposit and Detour Gold's Detour deposit. Barry appears a second gold production front for Metanor in time. Osisko we see today, you know a lower grade deposit, it's a target obviously of Goldcorp -- one would think that something like Metanor's deposits and production scenario would be a target as well for a major.

Eric Sprott: Totally, you know, you see we all forget where gold was and why it was there, and of course the reason why it was there are all the same. And if we ever got our head back around to okay it could go back up there again. I mean think about what having that extra deposit there would do for a company like Metanor, all of a sudden you got a second producer who can generate as much as the existing mine. That's why these things can change so quickly, you can double your output with a little bit of good luck in the precious metals market. And not even good luck, I mean common sense in the metals market, which we didn't experience here in the last two years.
 
https://www.silverseek.com/article/interview-eric-sprott-12858

[LiTeOn1981]

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[pdcon1]

drilling 2 fronts now has changed  gold has gone up and is more in demand . MTO is down to 1/2 of book value again , that has changed , and mining hewfran higher grades . MTO has this monkey on its back with cheap warrants and could move up substantially once warrants are gone . There is more institutional ownership now and those who fear a  lower price are bailing before the whole story

[fruitvale3067]

I know one thing I would like to see change.....profitable quarterly financials, because none of that other stuff you mentioned matters if they can't get it out of the ground and process it for a profit.  <Drop to 4 cents again and I will buy a lot more so the sooner the better.> PDcon, if the shareprice drops to 4 cents again it's probably over for Metanor. They won't

[LiTeOn1981]

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[wind00e]

what has changed is the warrants are being flipped.... almost an extra 9 million shares added due to warrant excercise. MTO treasury received approx. $500k this is a temporary situation. READ THIS ARTICLE AGAIN...... all the info is there. Northern Miner Metanor takes aim at Moroy in Quebec Metanor Resources’ Moroy gold project, with its Bachelor Lake gold mine in the background, in Quebec

[fruitvale3067]

WInd, yes they have additional $$$ from warrants. That may help in the short term however I'll go back to my original statement. If you can't get it out of the ground and process it for a profit so what.  Below is the Metanor 3rd quarter results. Pay particular attention to the last 2 bullets under the highlights section. The treasury has $2,179,601 left and the net loss was $3,765

[wind00e]

fruit... I suspect things will be much improved going forward. Dec 2015 results are not an issue now. we will have to wait for next Q results late in May. yes, I look at the glass half full. you may see it half empty if you like. MTO will be just fine, imo we will know soon. GL

[fruitvale3067]

<I suspect things will be much improved going forward. Dec 2015 results are not an issue now.> Ordinarily, I would agree with you, but with the what the company has left in the treasury it makes it an issue now. The fact of the matter is we can't suspect things will be much improved going forward. They have to be much improved and they have to be much improved for some time, plain

[wind00e]

MTO is presently making money. every month. the only reason I mentioned the money received from warrants was to help calculate how many warrants have been exercised.  things might just be much improved and will be so going forward. read the last NR's and the Northern Miner article. alot of info is there. your negativity seems speculative. why is it so hard to give MTO the

[fruitvale3067]

The news releases say a lot of positive statements: Positive drilling, improved grades, Barry, Sprott, price of gold, etc. I give them that. The one thing none of the news releases say is being cash flow positive at a time when they need to be cash flow positive. You may think those are negative statements, in reality as a shareholder those are the plain hard facts. The share price biggest gains

[goldminer01]

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[mstettler]

Didn't Sprott start his latest buying around .06 all the way up to .09?

[mstettler]

Excellent post.  Thanks Fruitvale.

[u2bob]

Good post  fruitvale3067...we are priced less than exploration companies ...we as shareholders have to try and get info from where we can ...and if shared by others here it can be a good thing in terms of trying to invest in juniors its not easy thing...for example your question above is here.... “We’re now starting to mine on the Hewfran section, which is 6 to 8 grams gold on average, so

[fruitvale3067]

Ubob, don't get me wrong believe me I hope they do become profitable, Very Profitable. It's the one missing piece of the puzzle that makes everything else go.  I agree, we will know more shortly. Now, speaking of speculative plays, tomorrow I'm off to Vegas for a 2 day work project, LOL.  

[u2bob]

If Vegas doesn't work out ...remember there's alway MTO ... AND... ...Don't forget double down and let it ride...have a good trip !

[wind00e]

fruit... pls re-read the Northern Miner interview. the info there tells me MTO is now making money. but it is not a balance sheet. this upcoming reporting Q should be much better, the next one should be what we are all waiting for. improved production, grade, price of gold. when the balance sheet shows the much better results, the price will be much higher. Sprott was ahead of the heard and

[fruitvale3067]

Wind if your refering to the following sytatement :“We’re now starting to mine on the Hewfran section, which is 6 to 8 grams gold on average, so in time production will go back up … and as we go through these higher-grade zones, we predict we’ll be cash-flow positive through the rest of the year.” I read things very carefully, I've been involved in many difficult certification tests where