Metanor Resources / MTO (CVE)

    Hallo heron,


    wegen der Liquiditätskrise habe ich ja alle meine Unternehmen angeschrieben und wollte Auskunft über deren finanzielle Lage. Metanor hat geantwortet und gleich noch was zur Bachelor Mill und zum Barry Projekt geschrieben. Die Produktion kann meiner Meinung nach wie geplant im 3. Quartal starten.


    "I understand that the recent tumoil rendered you nervous. I will try to answer your question the best I can and if you still have questions do not hesitate and call me.
    First of all, Metanor still has approximately $18M in cash to continue prepare Bachelor and Barry, and this is much more than needed.
    Metanor has no exposure to Canadian asset backed commercial paper. All cah is invested in highly liquid instruments with financial institutions.
    Bachelor mill should be ready by mid september and Barry open pit will be ready to feed the mill at this same date.
    So, following this, I think you should not worry about Metanor because all this tumoil has no effect on the company."


    Grüße


    extrel

    Look what the CEO said in an interview with Platts


    Metanor Resources set to start gold production in Quebec


    Wallace, Idaho (Platts)--7Sep2007 Canadian gold miner Metanor Resources will commence gold production from properties it owns in northwestern Quebec near Lac Bachelor at the end of September, the company told Platts.


    Metanor has also bought out its partners' interests at the Lac Bachelor and Barry gold properties following an overhaul of Metanor's 1,000 mt/day mill in Desmaraisville, Quebec.


    Initial mill output from batch test during the fourth quarter will be limited to 3,000-5,000 oz, but production should accelerate to 45,000 oz in 2008, ramping up to 65,000 oz in 2009, Metanor CEO Serge Roy tells Platts. The mill is configured to produce dore bars of approximately 90% gold, with a small component of silver.


    This week, Metanor purchased from Halo Resources. Halo's remaining interest in the Lac Bachelor mine and the Bachelor Lake joint venture for $800,000, and also acquired a 7% NSR claim to the Barry open-pit gold roperty from Murgor Resources for $1 million and 1 million Metanor shares.


    "With these agreements we now own 100% of our properties and the production therefrom," Roy said. "We now have access to a 1 million oz gold resource that will ensure production from Metanor for a good long time."


    The Barry property is located in the Urban-Barry belt, roughly 65 km south-east of the Bachelor Lake mine, where Metanor is currently working to rehabilitate the surface installations -- including the mill and the tailings facility.


    The Barry I Property consists of 14 claims covering 224 hectares from which only six claims were included in the December 12, 2006 agreement with Murgor. The Barry I property is further surrounded by the Barry United Property comprising 192 mining claims covering an area of 3,052 hectares. Metanor has continued the refurbishing work on internal components of the Bachelor mill.


    --David Bond; Newsdesk@platts.com


    VG heron

    Hallo heron,


    das sind gute Nachrichten, dass sich MTO bei beiden Projekten freigekauft hat. Die 1 Mio. Aktien verwässern allerdings schon wieder.
    Derzeit sieht es so aus (Stand 17.05.07):
    ca. 60 Mio. Aktien im Umlauf,
    ca. 16,4 Mio. Warrants, bei denen ich aber gerade nicht weiß, wie die Ausübung aussieht,
    ca. 2,7 Mio. Options und
    ca. 1,4 Mio. Broker Warrants.


    Mit dem Zukauf weiterer Grundstücke wird weiter verwässert, oder wie liest du das, heron?


    "Metanor Resources Inc. (MTO: TSX-V) is
    pleased to announce that, subject to regulatory approval, it has signed an agreement with Murgor Resources
    Inc. (MUG: TSX-V) to buy 7% of its NSR royalty on the Barry Gold Deposit. Metanor will also acquire the
    remaining interest of Murgor in 8 additional claims of the Barry I property. Further, Metanor also acquire 100%
    interest in the Barry United property, held jointly by Murgor and Freewest Resources Canada Inc. (FWR: TSXV).
    Metanor has an option to acquire 70% interest in the Nelligan Property. The properties included in the
    transaction are all located in north-western Quebec.
    The terms of the agreement are as follows:
    • Metanor will pay $906,250 cash to Murgor on signing of the agreement.
    • On signing of the agreement Metanor will also issue 1,126,375 shares of Metanor to Murgor, based on
    a price of $0.80 per share for a total value of $901,100.
    • Metanor will pay $200,000 cash to Murgor upon production of its first ounce of gold from the Barry
    deposit as an advance on Murgor’s remaining 1% NSR royalty on the deposit.
    • Upon production Metanor will pay a royalty to Murgor equal to 1% of the proceeds from the sale of
    gold.
    • Advances on royalties will be reimbursed to Metanor upon 50% of Murgor’s first profits upon
    production.
    • Murgor and Freewest will each retain a 0.5% NSR royalty on the Barry United Property.
    • The Barry property is subject to a 2% NSR payable to the Societe de Development de la Baie James
    (SDBJ).
    The Barry property is located in the Urban-Barry belt, approximately 65 kilometres south-east of the Bachelor
    Lake Mine where Metanor is presently working to rehabilitate the surface installations, including the Mill and
    the tailings. The Barry I Property consists of 14 claims covering 224 hectares from which only six claims were
    included in the December 12, 2006 agreement with Murgor. The Barry I property is further surrounded by the
    Barry United Property comprising 192 mining claims covering an area of 3,052 hectares." (Auszug aus der Pressemitteilung vom 06.09.07)


    Trotz aller Verwässerung denke ich, dass der Kurs - mal einen einigermaßen geregelten Aktienmarkt in den nächsten Monaten vorausgesetzt ?( - deutlich anziehen wird.


    Grüße


    extrel


    P. S.: das wird in mein Depot Bewegung bringen, wenn dieses Jahr neben MTO auch MFL, AMC und SRLM an den Start gehen.

    Hallo Extrel


    MTO.V übernimmt nun die Barry-Propoerty. Es ist ein guter Deal für MTO, weil bisher kaum was für Barry bezahlt worden ist. Und es ist ein schlechter Deal für MUG.V. Offensichtlich hatte MUG kein Interesse mehr und wollte sich um jeden Preis zurück ziehen.


    Nun hat MTO mindestens 11 Mio Cash. Das reicht bis zur Aufnahme der Produktion. Eine weitere Verwässerung ist also nicht notwendig, auch später nicht. Und wenn doch würde man sich mit der Bevölkerung vor Ort anlegen, die ja bekanntlich weit über die Hälfte aller MTO-Aktien hält :D


    A propos AMC: Die haben sichherlich blue sky-Potential! Bei MTO muss man abwarten, zumindest gibt's berühmte Nachbarn...


    VG heron

    Hallo,
    die aktien, die an Murgor zu 0,8 gehen, würde ich nicht als Verwässeriung sehen.
    Eher insti :D, obwohl MUG???


    Jedenfalls stimmt das gebiet und die 100% anteile sind klasse.
    AMC: blue sky vielleicht nicht, aber da stehen die Chancwen gut, dass es was wird und mit die Aurbel kann 1,7 to täglich schlucken.


    Jedenfalls bin ich seit heut auch bei MTO dabei, bei AMC schon länger.



    grüße
    tschonko


    Jetzt aber Schluss mit dem Pushen, heron. Ich will schließlich noch zu günstigen Kursen nachkaufen. :D


    Ich hoffe nur, dass nicht wieder einer dieser explorationsfaulen Majors kommt und eine weitere Rakete schon am Start einsackt, noch bevor sie abheben kann. X(


    cu


    extrel

    Gute Meldung vom Barry Projekt:


    Mineralized zone extended at the Barry Open Pit
    VAL-D'OR, QC, Sept. 26 /CNW Telbec/ - Metanor Resources Inc. (MTO: TSX-V) is pleased to announce that the first assay results of sampling of extended stripped area could expand the resources of the Barry deposit. Interesting gold values were obtained from classified waste material.


    Stripping work executed lately on the Barry project extended mineralized zones on the northwest and southeast flank of the main zone. The bulk sample was initiated in the northeast extremity of the stripped area and is designed to determine the main economic parameters of the deposit. The starting point is located in lower ground and all air track drilling is completed for a 10,000 tonnes blast in this area. Based on previous information this material is supposed to be composed of 50% ore and 50% waste. However, a channel sample taken across this waste material returned a gold intersection grading 3,44 g/t Au over 7,8 m, including 18,35 g/t Au over 1.0 m. Following these results, all the 10,000 tonnes that will be blasted this week will be sent at the Bachelor mill where mill rehabilitation is 95% complete. In order to recover most of the gold at the Barry deposit, all the material already considered as waste based on previous work and crossed by thin fractures with even low sulphide amount will now be systematically channel sampled and assayed for gold.


    The Barry property is located in the Urban-Barry belt, approximately 65 kilometres south-east of the Bachelor Lake Mine where Metanor is presently working to rehabilitate the surface installations, including the Mill and the tailings. After the complete acquisition of the Barry I Property and the surrounding Barry United Property the Barry property consists of 206 claims covering 3276 hectares.


    The Gold Resources for the Barry deposit were re-evaluated by Syst Gemes G Deostat International Inc. in compliance with NI 43-101 and are now estimated with a 2 g/t Au Cut-off at:


    RESOURCE CATEGORY TONNAGE GRADE (g/t) CONTAINED GOLD
    -------------------------------------------------------------------------
    Indicated Resource 385,000 mt 4.23 g/t Au 52,300 oz.
    Inferred Resource 966,000 mt 4.07 g/t Au 126,600 oz.
    -------------------------------------------------------------------------


    This new resource evaluation is incorporating all recent drill results performed by Murgor (summer 2006) and is extending the mineralized zones almost 300 meters in a southwesterly direction (Press release of May 8, 2007).


    Mr. Andr De Tremblay, P Eng. is the qualified person pursuant to National Instrument 43-101 and supervised the technical information presented in the news release.


    The TSX Venture Exchange does not accept any responsibility for the adequacy or the accuracy of the press release.


    VG heron

    Na endlich!


    Ausführlicher bericht mit vielen Bildern


    http://madisonaveresearch.com/07goldinsight02.htm



    Auszug:
    For those not familiar with the story, time to pay attention is now as in Q4 2007 Metanor Resources will commence gold production, pouring their first gold bar. Metanor will become a gold producer at their 100% owned Bachelor Lake Gold Mill in the prolific Abitibi mining District of Quebec. With the refurbishment of Metanor’s 1000 tonne capacity per day mill, initial mill output from the Q4 test batch is ready. 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. 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 (analysts report pegs $3 per share price). With plans to readily upgrade the resource base from over 500,000 oz of gold to over 1,000,000 oz, with approximately 60M shares outstanding and currently trading under CDN$1/share, the present valuation of MTO.V provides exceptional opportunity for investors. (See additional upside valuation commentary in footnotes).

    Aufgrund der vorliegenden Resourcenschätzung geht man von 6 Jahren Produktion aus, die genannten Zahlen sind wie erwartet.


    Ich glaub es liegen noch nicht alle Permits vor um 6 Jahre lang zu produzieren. Ansonsten schaut's gut aus, die Produktion dürfte in Kürze starten, im Augenblick läuft der Testbetrieb.


    VG heron

    November 8th, 2007 - Val-d'Or, Quebec, Canada: Metanor Resources Inc. (MTO: TSX-V) is pleased to provide an update of the work carried out on the Barry and Bachelor properties located in the north of Quebec, and comments on the recommendations from the Preliminary Economic Study carried out by Géostat International Inc. (Press release of October 30, 2007).


    In spring 2007, Géostat International Inc, was retained by Métanor to prepare an economic study whose objective was to evaluate the economic potential to exploit the deposit of Barry by open-pit mine and using the rehabilitated mill at Bachelor. This economic study, whose results are positive, was initiated last spring and was delivered to Métanor October 16, 2007.


    During the preparation of this study, the majority of its final recommendations were already being carried out by Métanor =) who invested close to $12M on the rehabilitation of the Bachelor Mill and the preparation of Bulk Sampling at Barry.


    The work executed so far by Métanor at Bachelor and Barry includes:


    * The Repair of the External Infrastructure of the Bachelor Mill, including the coating and the insulation, which was completed a few months ago.
    * The Restoration of the Components of the Bachelor Mill (mechanical and electrical) is 95% completed. Métanor has even begun the commissioning of the internal components of the initial circuit of the mill made up of the crushers, ball mill and the conveyors bringing the material towards the ore bin.
    * On the Barry Property, the Preparation of the Site and the Installation of Surface Buildings (Service, warehouse, etc) are completed. The original stripped zone was extended significantly and Bulk Sampling has been underway for a few weeks. The first blasts made it possible to establish the starting point of Bulk Sampling and other blasts of mill feed are regularly being carried out. The broken ore is crushed immediately and stored on the site.
    * The Repair work of the road connecting Bachelor to the Barry site (which uses the principal roads of Domtar) is finished and is ready for the transport of the mill feed.


    This study depicts a scenario of operation with very conservative parameters such as only 63% of the total resources were used in its calculation. =) Further, this economic study's income was calculated using a price of $660 CAD/oz and still shows positive conclusions as to the profitability of the project.


    Other factors not taken into consideration in this study include:


    The potential resources were evaluated by InnovExplo inc., in a NI 43-101 technical report, dated of October 31, 2005 as follows: measured and indicated resources of 841,591 t at 7.79 g/t Au (or 210,857 oz of gold) and inferred resources of 426,148 t at 6.52 g/t Au (or 89,366 oz of gold). Several mineralized zones were not included in the study: zone A and C of Bachelor property, and the zones A and B as well as portions of the East Zone and the West Zone of Hewfran property. From a total of 212,300 T of measured resources calculated by Innovexplo in 2005 at Bachelor, only 84,477 T (40%) were used. Therefore, a greater total of 477,930 T (110,298 ounces of gold) representing 37% of the total resources was not used at the time of this study.


    During the preparation of this study, Métanor repurchased 7% of the NSR from Murgor on the Barry deposit (Press release of September 6, 2007), and this was not factored in this study.


    The study used very high costs of operation however most of these costs will be decreased. For example, this study uses 27 peoples that would be necessary to operate the mill but Métanor budgets only 15 due to automation, this represents an appreciable savings. A feasibility study has not yet been completed and there is no certainty the company's projections will be realized.


    At the time of this study, Métanor had just completed a $20M financing which has been used for development work carried out until now on the 2 properties. As stated in Geostat's economic study of the Barry-Bachelor project, the project will generate a cumulative operating cash flow of $6.5M over 7 years. During spring 2007 the Company repurchased NSR's that will create savings of $3M thus increasing the operating cash flow of the same amount. Furthermore, the Company was successful in raising over $20M in fiscal year 2006-2007, this amounts was not taken into consideration in the Geostat economic study and will increase Metanor's cash flow.


    Considering all of the above factors and that the Geostat study used a gold price of $660 CAD versus the current higher price suggests that the cash flow could be significantly higher.


    Additionally, the recovery of further resources that were not used (477,930 T containing approximately 110,298 ounces of gold), assuming the same operating costs, would increase mine life and total cash flow.


    Mr. André Tremblay, P Eng. is the qualified person pursuant to National Instrument 43-101 and supervised the technical information presented in the news release.


    The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.


    For further informations, please contact :


    Serge Roy, President and CEO
    Metanor Resources Inc.

    Da kommt ja einiges zusammen, gut und ergiebig.....


    Was tut der markt, schickt die mal 10% Minus. Gut, inzwischen korrigiert.
    Aber zur Zeit ist´s fürchterlich, was die gamblers aufführen.


    Update of the Bulk Sampling at the Barry Deposit
    Wednesday November 28, 9:30 am ET


    TSX VENTURE EXCHANGE (equal sign) MTO 60,800,974 shares
    VAL-D'OR, QC, Nov. 28 /CNW Telbec/ - Metanor Resources Inc. (MTO: TSX-V) is pleased to provide an update concerning the Bulk Sampling of 40,000 tons of material executed at the Barry deposit.


    Metanor initiated bulk sampling of the Barry deposit in the northeast extremity of the stripped area where extensions of the original stripped zone exposed two sheared and mineralized volcanic rocks injected with a well developed quartz vein system and separated by a 15m wide block of waste material composed of massive andesite. In order to evaluate the nature and the quality of the deposit of Barry, it was proposed to take a bulk sampling from the first bench over a thickness of 3m along the Main Zone.


    In the first sector, between the sections 12+10 E and 11+50 E, the main mineralized zone has an average thickness of 10,7m and is separated from the southern zone by a band of sterile andesite. In this sector the best gold value obtained by channel sampling is on the line 11+85 E with an intersection of 4.84 g/t Au over 29.7m. In the second sector, between the sections 11+50 E and 9+95 E the two gold-bearing zones meet and the average thickness of the mineralized zone is increased at 26.7m. The best intersections obtained by channel sampling in this sector are: 5.58 g/t Au over 15.3m (L1155 E), 4.92 g/t Au over 23.55m (L1145 E), 4.94 g/t Au over 31.1m (L1052 E) and 5.59 g/t Au over 19.82m (L995 E). The results of the systematic sampling of the mineralized zone, carried out with a line spacing of 5m, indicate a good distribution of gold through the mineralized zone and show the continuity of the gold bearing zones. Considering the constant thickness of the main zone and constant distribution of gold contents over a distance of more than 150m, the continuation of the Bulk Sampling will be done only in mill-feed material.


    On the northern side of the main mineralized zone, the stripped area was extended in order to expose the extension towards the south-west of a gold-bearing zone which had been partially sampled and having returned intersections of 4.37 g/t Au over 6.4m on the line 1045 E and 10.04 g/t Au over 3.7m on the line 1015 E. A new channel sample on the line 1025 E and located between the 2 preceding ones, returned an intersection of 5.10 g/t Au over 12m, and confirms the potential of this gold-bearing zone. The results of some other channel sample taken in this sector are still pending.


    An evaluation of the mineral resources close to surface by using the existing channel sampling combined with those of 2007, indicates that approximately 40,000 metric tons of material will be excavated from the first bench over a thickness of 3m and that less than 15,000 tons of sterile material will have been broken.


    The mineralization of the Barry Deposit is characterized by a system of quartz-carbonate-albite veins associated with sheared zones oriented at 060(degrees) and with a dip of 60-70(degrees) towards south-east. Free gold is frequent and located in tension fractures within host rocks and veins. The association of the gold bearing zones with sub-verticals sheared zones rather than sub-horizontal ones leads us to modify the method of mining that deposit what will make it possible to obtain a waste:ore ratio much lower than expected compared to the original scenario. The extension of the gold-bearing zones is already open towards the north-east and the south-west and the association of the gold bearing zones with vertical sheared structures allows to consider the extension of all mineralized zones at depth and thus a significant increase in the mineral resources. This possibility was only partially tested with previous exploration work.


    Approximately 13,000 tons of mill-feed materials were already crushed at the Barry site. Muck samples taken in this crushed material returned gold values between 6 g/t Au and 19 g/t Au and reaching 29.4 g/t Au and 56.2 g/t Au. With the significant widening of the mineralized zones towards south-west, the progress of the work will be done only in the mill-feed material during the next weeks and that will allow acceleration of Bulk Sampling as well as transport of mill-feed and eventual storage at the Bachelor site.


    All the samples were collected on lines perpendicular to the strike of mineralized zones dipping 60 to 70 degrees to the southeast. The width of these intersections obtained on surface represents approximately 85 to 90% of the true width of mineralized zones. All the samples were sent to ALS Chemex laboratory in Val-d'Or for analysis by fire assay (A.A.) with gravimetric finish on all the samples greater than 3 g/t Au.


    The Barry property is located in the Urban-Barry belt, approximately 65 kilometres south-east of the Bachelor Lake Mine and consists of 206 claims covering 3276 hectares. The Gold Resources for the Barry deposit were re-evaluated by Systèmes Géostat International Inc. in compliance with NI 43-101 and are now estimated with a 2 g/t Au Cut-off at 385,000 mt at 4.23 g/t Au (52,300 oz) of indicated resources and 966,000 mt at 4.07 g/t Au (126,600 oz) of inferred resources (Press release of May 8, 2007).


    Mr. André Tremblay, P Eng. is the qualified person pursuant to National Instrument 43-101 and supervised the technical information presented in the news release.


    The TSX Venture Exchange does not accept any responsibility for the
    adequacy or the accuracy of the press release.


    For further information


    Serge Roy, President, (819) 825-8678, Fax.: (819) 825-8224, info@metanor.ca, http://www.metanor.ca
    Renmark Financial Communications Inc.: Jason Roy, jroy@renmarkfinancial.com
    Jen Power, jpower@renmarkfinancial.com, (514) 939-3989, Fax: (514) 939-3717, http://www.renmarkfinancial.com

    MTO hat 20 mio cash und geht nun in Produktion. Da braucht man kein frisches Geld. Und es ist auch keine weitere Finanzierung geplant. Weder jetzt noch später. Wirklich nicht. - So jedenfalls wurde es uns versprochen. War aber wohl nur ein Versprecher :D


    Dec 05, 2007 14:15 ET
    Metanor Accounces Terms of a Private Placement
    VAL-D'OR, QUEBEC, CANADA--(Marketwire - Dec. 5, 2007) - Metanor Resources Inc. ("Metanor" or the "Company") (TSX VENTURE:MTO) is pleased to announce that it has entered into an agreement with Raymond James Limited pursuant to which Raymond James will act as lead agent (the "Agent") for the offering on a best efforts basis of 6,250,000 Flow Through Common Shares at a price of $0.80 per share for a gross amount of $5,000,000 (the "Offering") on a private placement basis. The closing of the Offering will be December 19, 2007, or such earlier or later date as the Agent may determine. The Agent will have the right, exercisable at any time prior to closing of the Offering to increase the size of the Offering by up to a further 1,250,000 Flow Through Shares ($1,000,000).


    The net proceeds from the Offering will be used to fund an exploration program on the Barry gold project, to explore and develop the underground extension of the Bachelor gold deposit and to carry out exploration work on the Nelligan property.


    The Flow Through Common Shares have not been registered under the United States Securities Act of 1933 (the "Act") and may not be offered or sold absent registration under the Act or an applicable exemption from the registration requirements thereof. This press release does not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction or an exemption therefrom.


    61,978,974 outstanding shares


    The TSX Venture Exchange does not accept any responsibility for the adequacy or accuracy of the press release.



    VG heron

    @Eldo


    Dank Dir! Hab GMX im Depot, die haben Einnahmen und sind gut aufgestellt. - Die vielen Projekte sind irgenwie unübersichtlich. Erfreulicherweise gibt es auf der Homepage nun ein Update über alle Projekte. Und dann ein Update zum Update, weil ein Projekt vergessen worden ist :D


    VG heron

    Gute Meldung, das Permit ist da! :)


    METANOR RESTARTS THE BACHELOR MILL


    December 28th, 2007 - Val-dOr, Quebec, Canada: Metanor Resources Inc. (MTO: TSX-V) is pleased to announce that it received on December 21, 2007 its certificate of authorization concerning the restarting of the Mill at the Bachelor mine.


    The certificate of authorization was emitted on December 20, 2007 by the Quebec government and relates to the restarting of the Bachelor Lake mill located in the Lesueur township of the municipality of James Bay.


    This certificate was emitted in accordance with article 164 of the Environmental Law and allows its holder, Métanor, to complete the following work:


    - The restoration and the restarting of the Mill at the Bachelor mine.


    - All the work necessary to repair the tailings pond.


    - The installation of a temporary zone of storage of the ore (Ore pad).


    - The construction of all the camp buildings and a cyanide destruction unit.


    - Repair of the roads connecting the Barry site to the Bachelor mine.


    - Treatment of a bulk sampling of approximately 50,000 tons of mill-feed from the Barry site.


    At the Barry site which is located at 65 kilometers to the south-east of the Bachelor Mine, approximately 30,000 tons of ore were already broken and are presently being transported to the Bachelor mill.
    (....)


    VG heron

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