Welcome To The Metanor Resources HUB On AGORACOM
Metanor (MTO-V) is a new Canadian Gold Producer located in Quebec. It reached commercial production on December 1, 2013 and will produce 50,000 oz in calender 2014 with a present all-in cash cost of $1,018US.
Message: Mining Watch update on Metanor - 9 Jan 08
Mining MarketWatch Journal: Special Advisory Update as Metanor Resources is Cleared for Gold Production
Jan 09, 2008 (M2 PRESSWIRE via COMTEX News Network) --
Mining MarketWatch Journal has published an updated review and Upside Valuation/Summary on Metanor Resources Inc. (TSX-V:MTO) (OTO:MEAOF). The Advisory/Update may be viewed free of charge at the following URL: www.MiningMarketWatch.net/MTO.htm
With the issuance of permits now for their Batchelor Lake gold milling facility, it is clear sailing to commence production. Now is the time to pay attention to MTO.CA shares as the current valuation should make upward adjustments to reflect forward discounted future revenues of Metanor as a gold producer with a solid expandable resource base in a mining friendly region.
The newly refurbished mill will be scaled into production this January starting at 550 TPD and then moved up to 650 TPD. The initial production for year one according to the company will comfortably be 35K ounces, but Mining MarketWatch notes that it is able to readily upgrade and tweak to 1000 TPD when appropriate.
Management has been impressive in its ability to execute upon plans to achieve this milestone and Metanor now sits with a large cash balance (approximately $6.5M as of January 08 and entering a cash flow positive production mode. With less than 67M shares outstanding and trading under $1US, the market cap of MTO relative to its resource base/production expansion plans and future revenues make MTO.CA among one of the most attractive vehicles for gold investors in 2008.
With nearly 500,000 oz of Gold (NI-43-101 measured and indicated) available from their 100% owned Barry gold deposit and Bachelor Lake Gold Mine, Metanor Resources has restarted their gold milling facility readily capable of producing a projected 60K oz gold per annum. Their gold milling facility has a replacement value of $60M and sits geographically as the only mill located within 200 km in a gold rich district that possesses resources exceeding 1.5M oz. Metanor has also begun amassing properties within this area, near their Bachelor Lake Gold Mine & Mill, and will play a central role mining the resources in the region for decades. With less than 67M shares outstanding, and currently trading under $1/share, the present valuation appears to present exceptional opportunity.
Undervalued and under the radar, the time to pay attention is now as Metanor Resources will commence gold production in January 2008. 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 (upgradeable capacity) 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. The mill is configured to produce dore bars of approximately 90% gold, with a small component of silver.
Metanor now has the Bachelor Lake Gold Mill functioning and processing the ore extract from the open pit operation on their Barry gold deposit (located approximately 65 km southeast of the mill). The Barry deposit has NI 43-101 indicated resources of 52,300 oz Au and 126,600 oz Au of Inferred Resources. Primary crushing is done on-site, with secondary crushing and refining at the Bachelor Lake facility. The Barry property boasts a highly efficient ore-to-waste ratio of only 1:1.
Initial cash flow from production will be used to further develop the enormous potential at the Bachelor Lake Gold Mine which produced over 131,000 oz of gold during the 1980's, it currently has resources of 300,000 oz Au and is open in all directions at depth with plans to upgrade to 1,000,000 oz.
According to Metanor's President, Jessie Morin, current depth of the shaft at the Bachelor Lake Gold Mine is 1,700 feet, the shaft will be sunk an additional 600 feet to a depth of 2,300 feet and a 20,000 meter drill program is expected to add an additional 700,000 ounces of resources. Mr. Morin has many years of mining experience with an expertise in both underground development and shaft sinking. Prior to joining Metanor Resources, Mr. Morin built mills for several area miners including Cambior (now owned by Breakwater), Aur Resources and BHP Billiton. The two main veins at the Bachelor Lake Gold Mine run parallel and are 75 feet apart at an 80 degree angle. Metanor expects to drop shaft an additional 700 feet in the near future and the potential is in place to identify 1.5 million ounces going forward. Area miners such as Aur Resources now Teck Cominco Limited (NYSE:TCK) and Agnico-Eagle Mines Ltd. (NYSE:AEM)(TSX:AEM) are currently mining at depths of between 5,000 and 8,000 feet. The gold grade at the Bachelor Lake property increases at depth and the strike is open in all directions at the 2,300 foot mark.
Jan 09, 2008 (M2 PRESSWIRE via COMTEX News Network) --
Mining MarketWatch Journal has published an updated review and Upside Valuation/Summary on Metanor Resources Inc. (TSX-V:MTO) (OTO:MEAOF). The Advisory/Update may be viewed free of charge at the following URL: www.MiningMarketWatch.net/MTO.htm
With the issuance of permits now for their Batchelor Lake gold milling facility, it is clear sailing to commence production. Now is the time to pay attention to MTO.CA shares as the current valuation should make upward adjustments to reflect forward discounted future revenues of Metanor as a gold producer with a solid expandable resource base in a mining friendly region.
The newly refurbished mill will be scaled into production this January starting at 550 TPD and then moved up to 650 TPD. The initial production for year one according to the company will comfortably be 35K ounces, but Mining MarketWatch notes that it is able to readily upgrade and tweak to 1000 TPD when appropriate.
Management has been impressive in its ability to execute upon plans to achieve this milestone and Metanor now sits with a large cash balance (approximately $6.5M as of January 08 and entering a cash flow positive production mode. With less than 67M shares outstanding and trading under $1US, the market cap of MTO relative to its resource base/production expansion plans and future revenues make MTO.CA among one of the most attractive vehicles for gold investors in 2008.
With nearly 500,000 oz of Gold (NI-43-101 measured and indicated) available from their 100% owned Barry gold deposit and Bachelor Lake Gold Mine, Metanor Resources has restarted their gold milling facility readily capable of producing a projected 60K oz gold per annum. Their gold milling facility has a replacement value of $60M and sits geographically as the only mill located within 200 km in a gold rich district that possesses resources exceeding 1.5M oz. Metanor has also begun amassing properties within this area, near their Bachelor Lake Gold Mine & Mill, and will play a central role mining the resources in the region for decades. With less than 67M shares outstanding, and currently trading under $1/share, the present valuation appears to present exceptional opportunity.
Undervalued and under the radar, the time to pay attention is now as Metanor Resources will commence gold production in January 2008. 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 (upgradeable capacity) 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. The mill is configured to produce dore bars of approximately 90% gold, with a small component of silver.
Metanor now has the Bachelor Lake Gold Mill functioning and processing the ore extract from the open pit operation on their Barry gold deposit (located approximately 65 km southeast of the mill). The Barry deposit has NI 43-101 indicated resources of 52,300 oz Au and 126,600 oz Au of Inferred Resources. Primary crushing is done on-site, with secondary crushing and refining at the Bachelor Lake facility. The Barry property boasts a highly efficient ore-to-waste ratio of only 1:1.
Initial cash flow from production will be used to further develop the enormous potential at the Bachelor Lake Gold Mine which produced over 131,000 oz of gold during the 1980's, it currently has resources of 300,000 oz Au and is open in all directions at depth with plans to upgrade to 1,000,000 oz.
According to Metanor's President, Jessie Morin, current depth of the shaft at the Bachelor Lake Gold Mine is 1,700 feet, the shaft will be sunk an additional 600 feet to a depth of 2,300 feet and a 20,000 meter drill program is expected to add an additional 700,000 ounces of resources. Mr. Morin has many years of mining experience with an expertise in both underground development and shaft sinking. Prior to joining Metanor Resources, Mr. Morin built mills for several area miners including Cambior (now owned by Breakwater), Aur Resources and BHP Billiton. The two main veins at the Bachelor Lake Gold Mine run parallel and are 75 feet apart at an 80 degree angle. Metanor expects to drop shaft an additional 700 feet in the near future and the potential is in place to identify 1.5 million ounces going forward. Area miners such as Aur Resources now Teck Cominco Limited (NYSE:TCK) and Agnico-Eagle Mines Ltd. (NYSE:AEM)(TSX:AEM) are currently mining at depths of between 5,000 and 8,000 feet. The gold grade at the Bachelor Lake property increases at depth and the strike is open in all directions at the 2,300 foot mark.
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