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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers -- Ignore unavailable to you. Want to Upgrade?

To: Illogik who wrote (64772)	4/12/2009 9:09:02 AM
From: kayco	Read Replies (1) \| Respond to of 78408

MTO - Below is 43-101 reserves at Bachelor/Hewfran from 2005. The assumption has been that they will do the 70,000 oz – eventually. It is to be a mix from both sites: Barry and HF. Right now it is all Barry. After, in probably a year, they produce the 70,00 oz the stock may move a little. The key to this stock is recent drill holes at Hewfran that may indicate there is more at Hewfran than meets the eye. If more drilling proves this then the stock will move. I am assuming they were able to raise all the money recently because of potential from recent HewFran drill holes. What we need is some one to draw ore body at Hewfran and see what we are dealing with at Hewfran. IMHO. metanor.ca

To: Illogik who wrote (64772)	4/12/2009 9:34:16 AM
From: niceguy767	Read Replies (2) \| Respond to of 78408

Here is the public information that I'm aware of: " Metanor possesses known gold resources between the Barry Deposit and Bachelor Lake of over 470,000 oz + over 100,000 oz historic at the Hewfran extension but more importantly the Bachelor Lake Gold Mine has a proven geological model that is open in all directions at depth with plans to upgrade to 1,000,000 oz. They also currently have ~450,000 oz at the Dubuisson property." Obviously caveat is in order as there is an enormous gulf between "known" and "43-101" reserves and needs to be factored in to any buying decision along with the implications of the recent $18 million (assuming warrants are redeemed at some point) placement, the doubling in milling capacity and any progress toward profitability. My take is that the recent $18 million placement is a huge endorsement of MTO future prospects, one shared by MTO management as indicated by their seeming urgent need to double milling capacity. I just can't see management urgently doubling capacity if they don't have some, as yet not public, very positive assay information and I don't see them successfully raising $18 million unless Sprott and Goodman are fairly certain that very positive and, as yet not public, information is on the way. Add to these factors the likelihood of imminent profitability and recent reiteration of the 70,000 rate of production objection by July/10, and I come up with a highly favourable risk reward ratio at the current $0.50, assuming POG remains at or near the current $880.