Some statements from news releases followed by my comments after the cut/pastes.

March 17: An independent firm is currently performing a recalculation of the Barry property resources. This study will permit Metanor to produce a new report NI 43-101 by the end of the month of April 2010.

April 28th: An independent firm is currently performing a recalculation of the Barry property resources. This study will permit Metanor to produce a new report NI 43-101 originally forecasted for the end of this month. The report should be available on SEDAR by the end of May 2010.

June 3rd: With respect to the NI 43-101 report, the digitalization of all the interpreted structures on sections was given to Tech2mine of Val dOr and was completed during May 2010. All the computerized data was provided to the independant firm which already began its compilation and calculation according to the geological interpretation provided by Metanor, including selective verification of drill assay results by an independent laboratory. This resource calculation is expected to be completed by mid June 2010 and the report NI 43-101 of the resources of Barry should be given to Metanor in June 2010.

Posted by SimplyTheFacts who talked to Ron Perry June 22nd: They still have not received the report (so there goes my beer), I mentioned whether we could expect it in July and he said he is still hopeful to have it out by end of month. There will be more drilling after this at Barry, he said they will outline the structure with this 43-101, it is open in every direction, so they will drill to increase measured and indicated numbers.

I suppose there could be a number of reasons that the report has been delayed over 3 months already. Call me a cynic, but I can't see it being for positive reasons.

The ultimate problem with MTO is that management has a nasty tendency to say things they shouldn't. I've found they are overly optomistic (particularly with regard to timelines and finance) and a bit cavalier in their comments. Management of any company should always be as objective as possible. Again in a July 10th news acticle Ronald was quoted as saying the Barry deposit has the potential of a sereval million ounce deposit. What's this statement based on? Surely not Ron's expertise as an accountant? It's the same as prior comments about their being an "elephant" at Barry. These are hype comments in my opinion. Let the facts do the talking. It's the same with production. They have yet to deliver on any production promise and now Ron is quoted as saying they want to produce 125K to 150K ounces by 2013. Again, this is a hype statement - they're not even going to hit the 30K target for this year (which by the way if you go back a few years and look at their presentations, was planned to be much higher than 30K by this time). Last year they stated they'd be taking ore out of Bachelar this summer... now this summer (July 10th) they're quoted as saying they need 15 million dollars more before we see an ounce of gold from Bachelor even after all the PPs done in the last 18 months - all done in the name of getting Bachelor ready. Someone posted on this board they were told by management the recent PP was opportunistic - I've been told the exact same thing directly by management about previous PPs in years gone by while during other instances being told they need no further financing.

It would be nice to see an amazing N43-101 when it does come, but I doubt there'll be anything too spectacular - the share price is unlikely to move significantly like many on the forums are hoping for - just my thoughts.