Metanor Resources Inc. prepares to commence gold production offering a uniquely favorable mining scenario for investors looking for exposure to precious metals in a stable jurisdiction.

Metanor Resources Inc. is the subject of a Precious Metals Review offering insight and opportunity afforded investors as Metanor prepares to commence gold production in Quebec and is the subject of two separate research reports last week by Industrial Alliance Securities and Market Equities Research Group. The Industrial Alliance report follows a site visit by its mining analyst whom states there are “no barriers left to Metanor’s success”. The Market Equities Research report provides an in-depth analysis of Metanor, identifying a near-term price target of C$1.35 as Metanor enters gold production at its Bachelor Lake Mine and Mill in Quebec. Both reports follow news from Metanor that it has completed sinking of the mine shaft on time and on budget. Precious Metals Review Digest offers a review of these reports.

The review with chart may be found at http://preciousmetalsreview.com/PMRmtoSept11.PDF online.

Metanor is in an enviable position, having accomplished at its Bachelor Lake mine and mill what the vast majority of juniors attempt to achieve. As Metanor prepares to commence bulk sampling this Q4 leading to a ramp-up in gold production to 2/3 capacity by Q3 2012, it offers a uniquely favorable mining scenario for investors looking for exposure to precious metals in a politically stable jurisdiction. Metanor is fully capitalized with ~$9M in the treasury (as of September 1, 2011) plus an additional $6M expected to arrive in early September from its gold participation arrangement with Sandstrom.

Metanor is on schedule at its newly refurbished 1200TPD Bachelor Lake Mine & Mill, in Quebec. Metanor is expected to prepare a bulk sample in Q4 2011, leading to a ramp-up in production that will see a run rate of 5,000 ounces gold per month (60,000 oz per annum) by Q3 2012 at an estimated cash cost of US$464/oz gold using 2/3 capacity of the 1200 TPD mill. Metanor is leveraged to the price of gold, able to sell 80% of its Bachelor Lake Mine sourced gold at spot prices with the balance sold to Sandstorm as per gold participation agreement. With gold forecasted by respected analysts to remain near or above US$2,000/oz as Metanor begins selling in 2012, Metanor is positioned to generate enormous free cash, dwarfing the original Stantec projections used for validation (based on an initial three year mine life). Metanor has identified zones (see page 4) that we believe will contribute to extending mine life closer to 10 years. This interpretation was corroborated following a site visit to Bachelor Lake by an analyst from Industrial Alliance earlier this year, prompting commentary back-of-the-envelope calculations of (non 43-101) 700,000oz resource achievable based on deep hole intercepts and extrapolation of data. Metanor has tremendous leverage to adding more mineable ounces, a plan to augment these resources, and high exploration potential at its properties.

Metanor’s infrastructure is valued between CDN$150M – $200M, is fully paid, fully permitted, fully functional with proven production capabilities (having poured >40K oz gold from interim sourced ore). The intrinsic value of Metanor’s known resources (~1.6M oz gold in all categories on all its properties) and infrastructure are several times the company’s current market capitalization; we believe Metanor is a high value buyout candidate as it enters gold production and should gravitate upwards towards a per share valuation of C$1.35.

The review with chart may be found at http://preciousmetalsreview.com/PMRmtoSept11.PDF online.

This release may contain forward-looking statements regarding future events that involve risk and uncertainties. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual events or results. Articles, excerpts, commentary and reviews herein are for information purposes and are not solicitations to buy or sell any of the securities mentioned. Readers are referred to the terms of use, disclaimer and disclosure located at the above referenced URLs.

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