Metanor Resources MTO.V

Ticker MTO.V
Current price is between $0.32 - $0.42 (mid point base @ $0.36) resistance ~$0.45
Market Cap 76.6M
Shares Out. 201.7M
Revenue (FYR) ---
EPS $-0.10

Analyst coverage target prices

• Mining Market Watch $1.35
• Industrial Alliance Securities $0.95
• Market Equities Research Group $1.35
• Marketwatch.com medium targets $0.60-0.70
• Madison Avenue Research $0.95

Shareholder Ownership

• 5% Insider
• 50% Institutional (Sprott Asset Management taken position @ $0.50)
• Sandstorm invested $20M in return for 20% of the gold produced at $500/oz

Why to buy?

Metanor Resources is an advance stage near term producer that focus on gold operations in Quebec $150M-200M fully permitted and functional infrastructure and is aiming to be a mid-teir producer (150,000oz to 200,000oz). The intrinsic value of Metanor's resources is ~1.6M oz of gold in all properties and infrastructure $150M-200M. It is fully financed and has $15M in the bank.

This mining company have two significant projects

Bachelor Lake project (high grade underground)

• 100% owned
• Presently developing to access high grade ore
• Preparing 5,000t bulk sample Q-4 2011
• 95% recovery
• Estimated cost $464/oz
• Ramp up production in Q-1 and Q-2 2012
• Target to 60,0000oz annual production at 66% capacity Q-3 of 2012
• Targeting for 1M+ oz of gold expansion for mine life of 10+ years

Underground Mineral Resource

		Bachelor	Hewfran	Total
Measured	Tonnes	177,898	14,696	192,594
	Grade (g/t)	8.83	8.50	8.80
	Oz of gold	50,487	4,018	54,504
Indicated	Tonnes	465,928	183,069	648,997
	Grade (g/t)	7.63	7.14	7.49
	Oz of gold	114,329	42,024	156,352
Total Measured + Indicated	Tonnes	643,826	197,765	841,591
	Grade (g/t)	7.96	7.24	7.79
	Oz of gold	164,815	46,042	210,857
Inferred	Tonnes	207,517	218,630	426,148
	Grade (g/t)	6.76	6.30	6.52
	Oz of gold	45,083	44,283	89,366

 

Underground Mineral Reserves

		Bachelor	Hewfran	Total
Proven	Tonnes	178,359	14,734	193,093
	Grade (g/t)	8.36	8.05	8.33
	Oz of gold	47,930	3,814	51,743
Probable	Tonnes	467,135	183,543	650,679
	Grade (g/t)	7.23	6.76	7.10
	Oz of gold	108,538	39,895	148,433
Total Proven-Probable	Tonnes	645,494	198,278	843,772
	Grade (g/t)	7.54	6.86	7.38
	Oz of gold	156,467	43,710	200,177

Barry project (low grade open pit)

• 100% owned
• Expand & upgrade current gold resources (781,450oz. at avg. 1.3g/t)
• 89 new Induced Polarization (IP) survey

Interview with Jay Taylor (June 2011) - Overview
http://www.investmentpitch.com/media/949/Metanor_Resources_Inc._TSXV:_MTO_Face_the_Analyst_-_Interview/

Quebec tax credit incentives offers Metanor ~$0.46 in the form of tax credit for every $1 invested in underground development and exploration.


Website: http://www.metanor.ca/en/

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