Metanor Resources MEAOD

GREAT NEWS !!

[u2bob]

Highlights of PEA Barry ((i)) all in CAD dollars, include:

• -- Net present value (NPV) before taxes (at 6%) of $53.5 million;
• -- Internal rate of return (IRR) before taxes of 198%;
• -- NPV after taxes (at 6%) of $25.9 million;
• -- IRR after taxes of 94%;
• -- Capital startup of $8.5 million;
• -- Payback of 0.71 years with a gold price of $1,560 / oz;
• -- All-in production cost of $1,114 / oz (US $891 / oz);
• -- For the life of the mine, a production of 193,457 ounces of gold over 9 years;
• -- An average of 21,495 ounces of gold production with up to 37,573 ounces in year 2;
• -- Milling of 1,200 tonnes per day at the Bachelor plant, with an average grade of 1.75 g/t diluted for the life of the mine including the first 3 years at 2.61 g/t with a metallurgical recovery of 95%;
• -- Sterile ration mineralization of 2.17 to 1.

Ghislain Morin, President and CEO of Metanor Resources Inc., declared, on behalf of the board of directors: "This positive preliminary economic study is an important milestone for Metanor. We point out that the deposit is located on a Mining Lease previously granted, the deposit is ready to be exploited and it has the potential for expansion. Moreover, there are no steaming agreements covering the Barry project. We will be moving quickly with startup planned for the summer of 2017, following a feasibility study which will include current drilling results. "

[Belleterre]

Another 9 months of waiting

[u2bob]

...lol not as the drills confirm more...the more like MTO is in play now more than ever ...and you can always sell your shares ...if you have any ...lol Good luck ...and like Sprott said in his interview couple years ago... can you imagine a second front for gold ...He looks to be getting a litte wiser ever year...lol Good luck Bob

[tsoprano1]

Question for you Bob or anyone else, what is this: Capital startup of $8.5 million Where will that money come from? T

[u2bob]

Really !!! We paid back 7 million to the Quebec government in tuff times we now have almost 2 Q`S BEHIND US WITH HIGHER PRICE GOLD AND GRADES.... Plus we had 5 million in gold backing us back in June so we have only had better prices and grade of ore since ...year end meeting should be a good one... Bob

[fruitvale3067]

Bob, MTO also extended the convertible debt once and haven't paid that off yet.