2008-12-03 19:25 ET - In the News

Jay Taylor in the Nov. 16, 2008, edition of Gold, Energy & Tech Stocks refreshes his buy recommendation for Metanor Resources Inc., recently 38.5 cents. Mr. Taylor said buy on Feb. 12, 2008, at $1 and on Oct. 16, 2008, at 45.5 cents. A $1,000 investment for each of the two buys is now worth $1,231. Metanor announced in October, 2008, that it had produced and sold its first commercial gold bar from the Barry deposit of its Bachelor Lake property in Quebec. The bar was 540.69 ounces and was sold at $1,018 per ounce. Mr. Taylor notes that the cost of production at Barry is roughly $375 per ounce, giving the company a cash margin of $643 per ounce on that gold bar. Metanor is currently feeding roughly 600 tons per day through its Bachelor Lake mill, at 96-per-cent recoveries. It is working on upgrading the mill's capacity from 750 tons per day to 1,200 tons per day and is also working on re-establishing underground mining at the property. Mr. Taylor notes that a second prospect close to the Bachelor Lake mill has also returned some good assays. The newsletter writer thinks that this is an undervalued stock that could make many people wealthy in the years to come.