Assets-wise:
• Steady cash on hand;
• Positive working capital, book value at $56 million (>$0.13 cents per share), and infrastructure replacement value on all properties in excess of $100 million;
• MTO.V also offers a significant tax savings windfall value for a future acquirer with a loss-carry-forward on the books of ~$40 million, the impact could generate $12 million to $15 million in tax credits; and
• ~1.6 million ounces gold global resource in all categories (on all properties, two of which are permitted mines (Bachelor and Barry).
Liabilities-wise:
• Metanor has completely repaid its loan to Investissement Québec (originally $7M), final payment was made this August 2015 (freeing up an extra $525K/mo cash flow (from at its peak); and
• Metanor’s remaining convertible debenture has been paid down to $9 million outstanding and the term extended to August 2017.
