Metanor Resources MEAOD

Year End Meeting Questions...

[u2bob]

...Plenty of news to come from drill results ...earnings...and what we will be voting on shortly with year end meeting...

Mining Weekly ...

Metanor to move quickly with Barry start up on positive PEA

22nd September 2016

By: Henry Lazenby
Creamer Media Deputy Editor: North America

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VANCOUVER (miningweekly.com) – Val-d'Or, Quebec-based project developer Metanor Resources will move “quickly” with the start-up of operations at its Barry project, in Quebec, after publishing positive results of a preliminary economic assessment (PEA) on Thursday.

Prepared by GoldMinds Geoservices, the $8.5-million start-up cost to the project paled in comparison with an after-tax net present value (at 6% discount) of C$25.9-million, and an after-tax internal rate of return of 94%.

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“This positive preliminary economic study is an important milestone for Metanor. We will be moving quickly with start-up planned for the summer of 2017, following a feasibility study which will include current drilling results,” president and CEO Ghislain Morin stated.

The project is located 100 km east of Lebel sur Quvillon and 115 km south of the company’s Bachelor mine.

Using a gold price of C$1 560/oz, the payback is 0.71 years, while the all-in production cost is calculated at around C$1 114/oz ($891/oz).

The mine is expected to produce 193 457 oz/y of gold in its nine-year life, at an average rate of 21 495 oz/y of gold production, with up to 37 573 oz possible in year two.

The 1 200 t/d ore will be processed at the Bachelor mill, at an average headgrade of 1.75 g/t diluted for the life of the mine, including the first three years at 2.61 g/t, with a metallurgical recovery of 95%.

Metanor noted that the deposit is located on a previously granted mining lease, with the deposit ready for exploitation. It also holds the potential for expansion. Significantly, there are no streaming agreements covering the Barry project, Metanor advised.

The company has in recent months been reporting strong exploration results from its flagship producing Bachelor mine, including high gold grades over significant intercepts.

https://www.miningweekly.com/article/metanor-to-move-quickly-with-barry-start-up-on-positive-pea-2016-09-22

[PMInvestor08]

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[BASTILLEDAY4U]

Bob, you still have a mill 70 miles from the ore. That's 140 miles round trip. Running one way empty is never profitable. I never did the proper research but I assume the size of truck will be limited. A 10 tonne payload truck will be maximum size allowed. Insurance costs, diesel, drivers, I don't see this happening. $56.00 per gram x 10 grams per load = $560.00. Subtract costs from a

[harleyonvacatio]

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[woodscountry]

my pickup carries 10 tons, 20,000 lbs

[BASTILLEDAY4U]

Your a liar like that other goofball on vacation. There is a reason why they call them half ton pickups, because they can safely carry 1/2 ton. I have had a DZ license for 40 years and have a good idea of what most provinces allow on highways and they are not going to allow those large capacity mining trucks on a two lane highway.

[woodscountry]

Well dumb a??, I have a 1 ton truck and a trailer and I can pull over 10 tons with it. They even advertise it on tv, 40 years driving, better get out of you mini and get a real truck

[pokinfun]

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