Metanor Resources (TSXV:MTO) a Soon-to-be-Gold Producer Featured in Report by Resourcexinvestor - Video Summary Posted on InvestmentPitch.com
(Thomson Reuters ONE) -
Vancouver, British Columbia, May 18, 2011 - In a report issued on May 17(th),
Nathan Pearson, of Resourcexinvestor.com, compares this soon to be gold producer
Metanor Resources (TSXV:MTO) to several of its peers, discusses the company's
potential, and believes the share price should begin catching up to the value of
the company's projects.
Investmentpitch.com has produced a "video news alert" based on this information.
If this link is not enabled, please visit www.investmentpitch.com and enter
"Metanor-report" in the search box.
With a large portfolio and strategically staked properties, a market cap of $48
million based on a recent price of $0.24 per share, more than 1.6 million ounces
of gold proven up in all categories, and projected production of 60,000 ounces
per year from the Bachelor Lake Mine, Nathan Pearson believes Metanor deserves
more attention from investors.
This projected 60,000 ounce production is based on a pre-feasibility study
completed last December by consulting firm Stantec Inc.
Upon completion of this pre-feasibility study, the company proceeded to close a
gold sale agreement with Sandstorm Resources in January, whereby Sandstorm will
buy 20% of the gold production from Metanor's Bachelor Lake Gold Project for an
upfront payment of $20 million plus ongoing per-ounce payments.
This injection of cash will fund a 15,000 metre definition drilling campaign,
scheduled to begin next month at the company's Bachelor Lake Mine, while
avoiding share dilution.
Looking ahead, the company expects to complete its bulk sample by this fall,
thereby enabling the completion of a feasibility study.
The project team and its independent consultants also undated the NI 43-101
Technical Report for the Bachelor Lake Project with additional information. This
additional information is mostly of a technical nature. The initial project
economics, resources, and reserves all remain unchanged. A copy of the new
report has been filer on Sedar and is available at www.sedar.com.
The Bachelor Lake Mine is located 225 kilometres northeast of Val-d'Or, Quebec,
and is fully serviced, including a 1,200 ton per day mill.
Plans are also in the Metanor pipeline to commence the next phase of drilling on
the Barry gold deposit, located approximately 65 kilometres southeast of the
Bachelor Lake Mine. Numerous forestry roads link Barry to the Bachelor mine,
facilitating ore transport to the mill.
The Resourcexinvestor report envisions a busy future for Metanor, as the company
continues to develop the higher grade underground, as well as identifying and
upgrading the potential gold resources at depth, with expectations to extend the
mine life to 7 to 9 years at the Bachelor Lake Mine.
Fully permitted, with recent financings totaling more than $36 million, Metanor
Resources is edging closer to its goal of bringing Bachelor Lake and its mill
into production in 2012.
For more information on Metanor Resources, please visit their website at
www.metanor.ca, or contact Ron Perry at 514-262-8286 or email rperry(at)metanor.ca
For a copy of the report, please visit www.resourcexinvestor.com.
CONTACT:
InvestmentPitch.com
Barry Morgan, CFO
bmorgan(at)investmentpitch.com
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: InvestmentPitch via Thomson Reuters ONE
[HUG#1517068]
Unternehmensinformation / Kurzprofil:
Datum: 18.05.2011 - 22:05 Uhr
Sprache: Deutsch
News-ID 54808
Anzahl Zeichen: 4151
contact information:
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 219 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Metanor Resources (TSXV:MTO) a Soon-to-be-Gold Producer Featured in Report by Resourcexinvestor - Video Summary Posted on InvestmentPitch.com"
steht unter der journalistisch-redaktionellen Verantwortung von
InvestmentPitch (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
