Metanor Resource Inc. (MTO.V) Producing Gold Mine and Mill Message Board

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Gold/Mining/Energy : Metanor Resource Inc. (MTO.V) Producing Gold Mine and Mill

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From: stepup_keepup	7/8/2008 3:02:52 AM
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2008/09 Gold Price forecast $1K/oz Research report has very good things to say about Metanor. The URL for the report is madisonaveresearch.com Upside Valuation/Summary: The current market cap of MTO.V is well below the replacement value of their infrastructure alone, ignoring the ~1M oz gold resource, significant exploration potential and substantial revenue projections. Jay Taylor, mining expert, has made MTO.V his top pick in 2008 saying "This is a story of production, exploration, and building ounces". For those not familiar with the Metanor Resources, the time to pay attention is now as Metanor's new 1,200 (upgradeable capacity) tonne/day mill is now being scaled into full production. Production in 2008/09 should conservatively come in at 30K - 35K oz gold and ramp up from there to 65k oz in 2009/10. The mill is configured to produce dore bars of gold, with a small component of silver. MTO.V has ~1,000,000 oz of Gold (NI-43-101 measured and indicated) available from their three properties and the ongoing exploration drill program at their Barry deposit is just one of many venues to expand the resource base that is exceeding expectations. Metanor Resources' gold milling facility and infrastructure has a replacement value of ~$140M and sits geographically as the only mill located within 200 km in a gold rich district that possesses additional resources exceeding 1.5M oz. Metanor is also amassing properties within this area, near their Bachelor Lake Gold Mine & Mill, and will play a central role mining the resources in this region for decades. Their forward projected EPS will likely be very significant as a debt free unhedged gold producer and the current market cap relative to expected revenues is disproportionate (analyst report pegs $3+ per share price and no need for dilution). With approximately 73M shares outstanding and currently trading under CDN$1/share, the present valuation of MTO.V provides exceptional opportunity for investors. Over 50% of Metanor's outstanding shares are held by institutional interests, amongst them Dynamic Mutual Funds (managed by Goodman & Co.).

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