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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 > Hemorrhaging Money

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Post by gatorone on Apr 30, 2018 6:27pm

Hemorrhaging Money

Not a good report. Losing a lot of money.

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Comment by BASTILLEDAY4U on Apr 30, 2018 6:48pm

If my numbers are close, q2 is down 3406 ounces over q2 of 2016, about 34%. And you guys think potential buyers are lined up to make a bid on this dinasour.

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Comment by tsoprano24 on Apr 30, 2018 7:12pm

Jesus, this is like beating up a kid in a wheelchair. I didn't realize they gave shares to Sandstorm. No wonder there is an overhang. They must be kicking themselves as they watch this go down. And, to go from 41 mil shares to over 100 mil. No wonder these guys are pumping desperately. Just trying to get out with some of their cash. Can't blame them other than it be deceitful and unethical ...more

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Comment by fruitvale3067 on Apr 30, 2018 7:56pm

How bad was the Oct-Dec 2017 quarter? MTO produced 6358 ounces for the quarter ending 12/31/2017. Under the new streaming agreement MTO has to sell SSL 20% of the gold from bachelor lake -$500. Plus they need to provide a minimum of 1500 ounces per quarter. If MTO produces 7500 ounces per quarter that would equal 20% of the gold from Bachelor Lake and meet the 1500 ounce minimum. Which means MTO ...more

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Comment by fruitvale3067 on Apr 30, 2018 8:06pm

Sorry Gang I'm mathamatically challenged, lol (been in airplanes to long today. They were 228 ounces short, but they still had to dip into ounces they typically wouldn't have if it weren't for the new streaming deal.

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Comment by heystupid on Apr 30, 2018 8:31pm

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Comment by fruitvale3067 on Apr 30, 2018 8:38pm

At lease I admit when I make a mistake.

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Comment by fruitvale3067 on Apr 30, 2018 8:43pm

The point is they can't produce enough to cover the 20% of the gold stream and meet the 1500 ounces minimum without diping into the 80% of the gold not effected by the stream. Of course you'll give management a pass as usual.

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Comment by LiTeOn1981 on Apr 30, 2018 9:03pm

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Comment by LiTeOn1981 on Apr 30, 2018 9:15pm

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Comment by BASTILLEDAY4U on Apr 30, 2018 8:11pm

I saw that too, Tosprano. Something else of interest is on page 11 of the mda, they mention a possible sale of mineral property assets to fund ongoing operations.

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Metanor Resources