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Metanor Resources Inc. are a gold focused junior, small producer with one producing mine in Canada, one mine in development in Canada and three exploration properties. Currently they produce roughly 30koz. of gold per year. They have approximately 1.55Moz. of gold in the reserves and resources category of which 0.55Moz. are in the measured and indicated category. They have a market capitalisation of ~C$42.04M which is a rise of roughly 67% over the last six months. As of 12/31/2016 they have ~C$7M debt and ~C$2.31M cash. They have 63M shares outstanding and trade on the Canadian Venture Exchange and the over-the-counter markets.
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Profitability (by resource)
Future Valuation (Cash Flow & Totals)
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Began producing in 2013.
Gold Price (last analysis) ($)
Silver Price (last analysis) ($)
Stock Price (last analysis) ($)
1 Yr Stock Price High ($)
Stock Price Change From 1 Yr High (%)
Stock Price USA 5-Year High ($) (including date)
$1.12 - 5/14/2008
Stock Price USA 5-Year Low ($) (including date)
3 Cents - 8/7/2015
I have some concerns, although they seem to be hitting their stride. In an interview in 2008, they forecasted production of 70,000 ounces in 2010. What happened? Also, a year ago they had 135 million fully diluted shares. Now they have 521 million. I still think they have a lot of potential, but management needs to perform.
Canada: Quebec (5 properties), Ontario (1 Property).
Local Issues (wag)
100%, except for 70% in the Ontario property
Country of Incorporation
20% of production at Bachelor Lake to Sandstorm for $500 an oz. Thus, they lose $350 per oz for 20% of production.
Shareholder Friendly (wag)
Barry Lake is a potential flagship with its 13K potential strike length
Ore Grade (wag)
Barry Lake is low grade surface mine at about 1 gpt.
10/25/2015: Decreased rating from 3.5 to 3 because of debt issues and their company presentation is a year old. Who is running the ship?
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