MTO.V MEAOF Metanor Reports Q4 Net Income of $1,078,441 on record production of 13K oz
Very interesting. A few thoughts:
They did meet their guidance for the year and continue to hone and increase their operations.
Their in the Timmins camp producing from a previous high grade underground mine.
They have lots more gold to find at Bachelor and about 50% spare capacity at their state of the art paid for newer Bachelor mill.
If they get promised electricity up the road at their Barry property, look out, because this will be a whole new company. This property is compared to the Trelawney property that IAMGOLD paid $600Mill for. They've already trucked in their bulk sample from Barry to Bachalor and it works. They could make money just trucking it to their spare capacity.
Cons: Electricity although promised by government, could take awhile.
Management has a habit of over promising. They will have to shake that to get my money.
But for .08 and a MC of $24mill, its a buy if they just stay even and wait for the electricity or price of gold. The right news and I would hop on in a hurry
Not much on my buy list. Waiting for more tax selling, Most fund companies have fiscal years that end on October 31st so expecting some bargains and maybe another round in late Dec if we dont get a bounce in gold.
Some incredible buys out there, should price of gold take the risk off.
