Re: re: 43-101

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.

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raffles

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Re: re: 43-101

in response to

re: 43-101

riz200078

posted on Aug 02, 2010 03:38PM

Your questions below are understandable in the light of the continuing delays and also the apparently low valuation placed and Metanor's debt free and gold producing mining property.

Metanor has achieved great exploration and mill rehabilitation successes since it was floated in about 2003. To a large extent, this success and in particular the Barry project, was achieved as a result of the business acumen of the directors. In this regard, Barry was purchased for a low cash cost, since the owners Murgor, initially retained a high smelter royalty. However, Metanors' timing, to exchange the smelter royalty for shares, when gold resources were low, was excellent. It is apparent that the Bachelor Lake mine could have been put into production before now, although the directors have clearly switch the focus of all avaialble resources to the establishment of a significant open pit gold resource at Barry.

The investment establishment may regard this as a sign of unplanned opportunism by the directors. However, if the directors were to be correct in their judgement, then the low cost access to large open pit gold resources, could add to shareholder value far more effectively than would an earlier commencement of production at Bachelor Lake.

In contrast to many open pit mines, the drill results from Barry, from as early as 2007, appear to be of a relatively high grade for an open pit, with a low strip ratio. Therefore, even without an independant 43-101, the directors own geologists must have a very good idea of the final result from Barry and are therefore prepared to full comit resources to the Barry project. I believe that this entreprenurial spirit may be having a dampening effect on current share prices, when viewed by conventional institutional investors.

The delays in notifying shareholders concerning the availablity of the 43-101 could have been handled differently. However, with the recent addition of cash from shares at $0.65 being added to liquidity, when the share price is $0.57, may provide Metanor with the time and resources to seek a longer term funding arrangement. The original target date for release of 43-101 was at the end of April 2010. When it was announced, a week before, that this would be extended until the end of May 2010, I emailed the company and was informed by the VP Exploration that April was a target date set at the end of 2009. This were delays due to logging and splitting delays and it was then expected to receive 43-101 at the end of May 2010.

At that time [April 30], VP Andre Tremblay commented "....... results will be very interesting and impressing, and will change the future of the company....." Since that time, there have been various other comments from the company in press reports [such as the 10 July press publication] which indicates a positive outcome for the 43-101. However, there has still been no 43-101 report.

My conclusion is that there has been a temptation for directors to delay again, in order to add some potentially valuable 2010 drilling results to the 43-101 and therefore be in a position to release an even more valuable 43-101. The rationale for maximising the amount and quality of the 43-101 resources could be that Metanor could be that:-

Metanor may wish to avoid a hostile offer, which could be best defended by maximising the 43-101 with some 2010 drill results together with the pre 2010 drill campaign.
Metanor may be in negotiations with potential partners and the best value JV agreement , which could be achieved by updrading the 43-101, by way of including some 2010 drill results in the final report.
According to a previous post on 22 June, Ron perry was reported to have mentioned that a number of geologists have taken a look at it [Barry] and all believe there is something big there..... In situations where JV agreements are being negotiated with a number of companies, the parties are frequently permitted access to all internal company drill data in exchange for an agreement not to make a hostile offer, but instead to tender a joint venture funding agreement. Such a JV agreement could be in progress and this would be a plausible explanation for the delay in publication of the 43-101.

In conclusion, if your parcel of 100,000 shares were to be let go due to the understandable frustration of waiting for information, then such action could be a future source of regret.

I hope that these thoughts may give you some food for thought before taking precipitous action before the 43-101 is [eventually] published.

REPLY TO:-

I really dont understand like many others who own this stock.

Can anyone explain to me the following.

1. there are so many stocks out there who are not producing any money and yet are trading more then Metanor, There are others who dont even have much resources and are losing money very fast and yet trading higher. I just dont get it.

2. The company said that it will be releasing the report back in June 2010. I can understand that they have a delay or want to confirm thing or in the matter of fact what ever that is delaying the process. It seems that the management is very irresponsible with communicating with is shareholders, I belive that they owe the shareholders an answer to the late report or even more just communicate that there is a delay rather then upseting everyone, I own about 100,000 shares of this company and i am loosing my patience. They better get their act together or else i will be investing my money somewhere else, there are many fish in the sea.