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Metanor Resources Inc is engaged in the production and sale of gold as well as acquisition, exploration, and development of mining properties. It projects include the Moroy Project and Barry project among others.

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Metanor Resources > $20M cash flow guarantee to sandstorm

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Post by Jmay14 on Nov 03, 2016 11:52am

$20M cash flow guarantee to sandstorm

Hello,

does anyone know how the $20M cash flow guarantee worked ?

sandstorm paid $20M to metanor to obtain right to buy 20% of gold from bachelor at $500/ounce.

was the $20M cash flow guarantee to reimburse the payment by sandstorm ?
also it seems that the actual amount to date is $23M.

thanks

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Comment by lastpick on Nov 03, 2016 12:31pm

You got it! And they continue to get 20% of gold at $500/oz until Bachelor prod'n ceases!

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Comment by Jmay14 on Nov 03, 2016 1:33pm

So why does a report say that it has reimbursed $23.6m as at september 2016. why would it reimburse more than $20m report i am referring to is one posted by bob in 8 cents canadian thread

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Comment by LiTeOn1981 on Nov 03, 2016 1:58pm

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Comment by mstettler on Nov 03, 2016 1:46pm

The difference should be due to USD/CAD exchange rates. The cash flow guarantee is pretty standard. It's basically a guarantee of repayment on the loan. Of course if the company which is obligated becomes insolvent then there is not much that can be done. Sandstorm had a similar stream on the serra pelada mine - they went belly up but because sandstorm was a holder of debt they ...more

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