Metanor Resources Inc. Emerging as a Successful New Gold Producer, Now Producing Over 3000 oz Gold per month

Metanor Resources Inc. (TSX-V: MTO) (OTCQB: MEAOF) (Frankfurt: M3R) is the

subject of a review by Robert Gibbens of The Montreal Gazette as Metanor has

been steadily increasing Gold production at its newly refurbished 1200TPD

capacity Bachelor Mine & Mill, in Quebec. Earlier this month Metanor announced

it produced 3,017 oz Gold in February 2013, a ~35% increase in production over

ounces poured in January, and January was a 30% increase over December's ounces

poured -- all part of an ongoing ramp-up toward its target of ~5,000 oz Gold per

month run rate utilizing 2/3 capacity.

The full Gazette review is available at the following URL

online. The Gazette quotes Ron Perry, Metanor’s V.P. and treasurer; "Bachelor

Lake will become a key low-cost player in a lesser-known region of northwestern

Quebec with strong growth prospects,” … “We’ve been producing gold since last

summer, fully permitted, with a tough and experienced team of 220, a mill with

spare capacity, a mine open at depth, other properties to explore fully and a

pact with the Crees and other native groups.” The Gazette notes, among many

other insightful points, that Metanor’s longer-term ambition is to lengthen the

mine life significantly and bring its Barry open-pit property nearer Val d’Or

back into production.

With a current market cap of ~$50 million, Metanor represents exceptional value

for investors establishing a long position now. Metanor's infrastructure is

valued (estimated replacement value) at ~CDN$200M. The intrinsic value of

Metanor’s known resources (~1.6M oz gold in all categories on all its

properties) and infrastructure are several times the company’s current market

capitalization. With MTO now entering steady-state gold production and cash flow

positive status, this should result in improved market awareness and

appreciation for the Company; the reality of the infrastructure and resource

value, cash flow growth, and clear ability to add ounces should translate to

share price appreciation.

MTO is leveraged to the price of gold, able to sell 80% of its Bachelor Mine

sourced gold at spot prices with the balance sold to Sandstorm as per gold

participation agreement. Fully permitted, fully capitalized, and sufficiently

staffed with professional mining personnel able to handle the ramp-up, MTO

presents investors with an exceptional opportunity as the first new gold miner

in Quebec's Plan Nord. Operational highlights of this new low cost gold producer


- Low geopolitical risk.

- Low hydro-electric costs, not affected by oil prices.

- Targeting 5000 oz per month production at 800TPD, >96% recoveries.

- grades upwards of 26 g/t gold with an average grade of 7.38 g/t gold (fully

diluted using long hole).

- Estimated cash cost of ~US$464/oz gold (2011 pre-feasibility by Stantec).

- Identified zones should lead to resource growth and extension of mine life

closer to 10+ years; Industrial Alliance analyst calculated (non 43-101) 700,000

oz achievable based on deep hole intercepts and extrapolation of data.

Metanor’s other project of significance is its 100% owned Barry gold project

located ~65 km from the Bachelor mill. The Barry property resource estimate now

sits at 309,500 oz Gold of Indicated Resources (7,701,000 t at 1.25 g/t Au) and

471,950 oz gold of Inferred Resources (10,411,000 t at 1.41 g/t Au) and is wide

open for large resource growth expansion. The current 1km strike at Barry is

potentially 13km; there are in excess of 150 anomalies outside the pit area. The

Barry deposit is a 10M+ ounce target; the independent international professional

geological firm SGS Geostat has identified Metanor’s Barry deposit as comparable

in potential to rival other multi-million ounce deposits such as Osisko's

Malartic gold deposit & Detour Gold's Detour deposit.

For additional insight on Metanor Resources Inc. the following research links

have been identified:

Company website:

SEDAR filings:

Mining Journal article:

Q1 2013 analyst research report:

This release may contain forward-looking statements regarding future events that

involve risk and uncertainties. Readers are cautioned that these forward-looking

statements are only predictions and may differ materially from actual events or

results. Articles, excerpts, commentary and reviews herein are for information

purposes and are not solicitations to buy or sell any of the securities

mentioned. Readers are referred to the terms of use, disclaimer and disclosure

located at the above referenced URL.

Contact information:

Simon Levingston, Managing Director

Market Equities Research Group

Stock Market XML and JSON Data API provided by FinancialContent Services, Inc.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
Press Release Service provided by PRConnect.
Stock quotes supplied by Six Financial
Postage Rates Bots go here