Mining MarketWatch Provides Overview of Metanor Resources Inc. as New Gold Producer in Q2 2007, Exceptional Metrics - 60K Oz Gold Annually from $60M Refurbished Gold Mill : Investments and Finance News Onlypunjab.com- Investments and Stocks News

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Mining MarketWatch Provides Overview of Metanor Resources Inc. as New Gold Producer in Q2 2007, Exceptional Metrics - 60K Oz Gold Annually from $60M Refurbished Gold Mill

Publish Date : 2/13/2007 7:34:00 AM Source : Investments and Finance News Onlypunjab.com

Mining MarketWatch Journal has published a review that breaks down the metrics behind the Metanor Resources Inc. (TSX VENTURE:MTO), offering insight and opportunity afforded investors as it approaches becoming a gold producer utilizing their 100% owned Bachelor Lake Gold Mill in the prolific Abitibi Mining District of Quebec. A copy of the informative piece may be viewed free of charge at http://www.miningmarketwatch.net/mto.htm .
Editor's notes from the review: "With over 400,000 oz of Gold (NI-43-101 measured and indicated) available from their 100% owned Barry gold deposit and Bachelor Lake Gold Mine, Metanor Resources is about to kick start their gold milling facility producing a projected 60K oz gold per annum. Their gold milling facility has a replacement value of $60M and sits geographically as the only mill located within 200 km in a gold rich district that possesses resources exceeding 1.5M oz. Metanor has also begun amassing properties within this area, near their Bachelor Lake Gold Mine & Mill, and will play a central role mining the resources in the region for decades. With less than 31M shares outstanding, and currently trading under $1/share, the present valuation provides exceptional opportunity for investors. Undervalued and under the radar, the time to pay attention is now as is evident from Metanor's recent press release dated Jan. 29, 2007 which details their plan of action. Metanor has also recently updated their corporate presentation which showcases expected revenues of $35,000,000 per annum."

Excerpts from the review: "Initial cash flow from production will be used to further develop the enormous potential at the Bachelor Lake Gold Mine which produced over 131,000 oz of gold during the 1980's, it currently has resources of 300,000 oz Au and is open in all directions at depth with plans to upgrade to 1,000,000 oz … According to Metanor's VP of Development, Jessie Morin, current depth of the shaft at the Bachelor Lake Gold Mine is 1,700 feet, the shaft will be sunk an additional 600 feet to a depth of 2,300 feet and a 20,000 meter drill program is expected to add an additional 700,000 ounces of resources. Area miners such as Aur Resources Inc. and Agnico Eagle Mines Ltd. are currently mining at depths of between 5,000 and 8,000 feet. The gold grade at the Bachelor Lake property increases at depth and the strike is open in all directions at the 2,300 foot mark. ... Mr. Jessie Morin, has many years of mining experience with an expertise in both underground development and shaft sinking. Prior to joining Metanor Resources, Mr. Morin built mills for several area miners including Cambior (now owned by Breakwater), Aur Resources and BHP Billiton Ltd. … Using $600 per oz gold, the Bachelor Lake mill will generate revenues in excess of $35,000,000 a year once upgraded to handle 750 tpd producing in excess of 60,000 oz gold per year with an average estimated cost per oz by Mining MarketWatch of less than $325 oz; this justifies a share price in excess of $5/share based on conservative P/E ratios. Additionally Metanor currently trades near $1 per share and has a current market cap that equals value of their Bachelor Lake Gold Mill structure alone (appraised at $28M depreciated value with a replacement value of $60M including headframe and all surface equipment). Metanor possesses known resources between the Barry Deposit and Bachelor Lake of over 400,000 oz + over 100,000 oz historic at the Hewfran extension but more importantly the Bachelor Lake Gold Mine has a proven geological model that is open in all directions at depth with plans to upgrade to 1,000,000 oz. ...MTO is in line for a serious price change to the upside."

A copy of the informative piece may be viewed free of charge at http://www.miningmarketwatch.net/mto.htm .

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 and of the securities mentioned. Readers are referred to the terms of use, disclaimer and disclosure section at the bottom of the following URL http://www.miningmarketwatch.net/mto.htm .

Onlypunjab.com

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