Re: re: 43-101
in response to
by
Welcome To The Metanor Resources HUB On AGORACOM
Metanor (MTO-V) is a new Canadian Gold Producer located in Quebec. It reached commercial production on December 1, 2013 and will produce 50,000 oz in calender 2014 with a present all-in cash cost of $1,018US.
Message: re: 43-101
Thank you Royal Blue for forwarding details of your call to a Metanor VP (copied below for reference). It would be of interest to hear from you with regards to which VP you spoke to? I have also copied an earlier post dated 22 June 2010, from Simply on this site.
The response that you were given may have raised more questions than answers, for the following reasons:-
- According to director Ron Perry, the PP was not a certainty on 22 June 2010.
- The reply concerning the 43-101 is confusing and it is at odds to other information available. On June 22 2010, director Ron Perry, reported below, to Simply on this site, that he is still hopeful to receive it [the 43-101] before the end of month [June]. More importantly, earlier, in April 2010, I enquired by email to the company, why the 43-101 was reported to be delayed from end of April to end of May 2010. The reply to that email was received from Metanor’s VP geologist, responsible for the 43-101, Mr Andre Tremblay. In that 30 April 2010 email, Mr Tremblay said that the independent firm (Geostat) have all the drill results in respect of the 168 holes for 20,000m on the deposit in December 2009 and results of these hole[s] serve to a resources calculation or 43-101 report. Also on 30th April 2010, Mr Tremblay also commented “…. We are very close to conclude and results will be very interesting and impressing ……… Please be patient for another 2 weeks….”
In conclusion, I do not accept that Metanor are still waiting for a letter in the mail from Geostat, in respect of the drilling campaign up to the end of 2009. It may be correct to say that they are still waiting for the 43-101, but they do not indicate that the delay may be as a result of an upgrade to include 2010 preliminary drill results.
Readers can form there own views, however it appears that Metanor may have raised a relatively low level of funds by way of the 31 July PP, in order to “buy time” and therefore be in a position to present a 43-101 firing on all cylinders. This [upgraded] 43-101 may then be the platform for whatever form of major fund raising / JV that Metanor may require, in order to capitalise economically on Metanor’s assets in the ground.
Re: re: 43-101
in response to Re: re: 43-101 by raffles
posted on Aug 03, 10 03:32PM (Log in to use the IP Check tool) [?]
Thanks for your thoughtful post raffles.
I'm not a shareholder but am seriously considering committing to this story. I called the company just before the long weekend and talked to the VP. I asked if there was any connection between the recent private placement and the delayed 43-101.
He said this:
1. No connection between the two. These are two seperate events. The private placement was already planned, they had the opportunity to do it, so they got on with it.
2. They have no control over the 43-101. It's in the consultant's hands and they are waiting just like everyone else.
I'll probably wait to invest until the resource update anyway, but probably people are reading too much into this delay.
Spoke to Ron Perry
posted on Jun 22, 10 02:35PM (Log in to use the IP Check tool) [?]
Just spoke to Ron Perry and here is what I found:
-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 asked why we had not heard about Bachelor in sometime, and whether we would see soil from Bachelor mixed with Barry by end of summer as promised. While he mentioned a number of things they have done at Bachelor, he said that they are a small company and have a limited budget. Because of the good numbers at Barry, They have concentrated their efforts there. I personally don't think Bachlor will come online by end of summer...
- Again, he was very enthusiastic about Barry, and mentioned a number of geologists have taken a look at it and all believe there is something big there...
- The 700 and 704 bars that were produced were from two seperate weeks. I asked if production was constantly at that level and he said no, we just wanted to show what we were capable of. He said he cannot say how mauch they are producing every week.
-I mentioned that the company financials indicate they need money, so another PP must be on its way shortly. He said they had a lot of warrants in place at .65 cents and we will have to see what happens.
I certainly hope they can deliver on what they have been saying about Barry...
Regards,
Simply
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