|Moderated By: stepup_keepup -- (Not Moderated) -- Started: 10/23/2007 3:24:32 PM Revision History|
Metanor Resources Inc. "Metanor" (TSX Venture: MTO) (US Listing: MEAOF) is a young junior mining exploration Corporation, incorporated since January 2003. Its head office and its exploration office are located in Val-d'Or (Province of Quebec, Canada). I write this as within days Metanor’s milling facilities are expected to produce from their 43-101 resources, their first gold bar. It is a rare event when a new gold mill and mine comes into production in a stable region. Here are a few quotes about what is being said:
“Canadian gold miner Metanor Resources will commence gold production from properties it owns in northwestern Quebec near Lac Bachelor at the end this month. Earlier in September, the company bought out partner interests at the Lac Bachelor and Barry gold properties following an overhaul of Metanor's 1,000 tonne/day mill in Desmaraisville. Initial mill output from the Q4 test batch will be a limited 3k-5k oz, but production next year should accelerate to 45k oz in 2008, ramping up to 65k oz in 2009, said Metanor CEO Roy. The mill is configured to produce dore bars of approximately 90% gold, with a small component of silver.”
"MTO.V appears to offer exceptional opportunity, their 2008 and onwards EPS will likely be very significant as a debt free unhedged gold producer. The current market cap relative to expected revenues is disproportionate; according to a recent analyst report MTO is in line for a serious upside price change."
Corporate Website: metanor.ca
Review at MiningMarketWatch: miningmarketwatch.net
Recent Analyst Report [PDF]: sectornewswire.com
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