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Friday, May 12, 2017 Derek Macpherson

MTO Reports Solid FQ3; Increases F2017 Guidance

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Metanor Resources Inc. (TSXV:MTO) reported solid FQ3 2017 (June 30th year-end) financial results, increasing guidance from 28k-33k oz to 33k-36k oz for the year. We view the results and guidance increase positively and with a strengthened balance sheet, the company is well positioned to extend the mine life of the Bachelor Mine and advance Barry towards production. From Bachelor, 9,442 oz of gold was produced in Q3 representing an increase in production by 3.6% YoY and a slight decrease of 3.3% QoQ. Cash costs decreased by 13.6% YoY, however, increased by 13.4% QoQ (Figure 1). With 27,605 oz produced so far, this year, the company appears to be well-positioned to meet or exceed its updated guidance with only one quarter remaining. We expect ongoing results and FQ4 production results to be important near-term catalysts for Metanor. read more

Sunday, March 26, 2017 Derek Macpherson

Following C$11.5 Financing MTO Upgrades Its Board

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On Friday, Metanor Resources Inc. (TSXV:MTO) announced the appointment of Greg Gibson and Akiba Leisman to its Board of Directors. The change adds experience to the team, as the company looks to grow production at its Bachelor gold mine and advance its exploration properties, specifically developing its Barry project in Quebec. Greg Gibson is currently the President and CEO of Sprott Mining and Jerritt Canyon Gold LLC. Akiba Leisman is a consultant to Wexford Capital LP where he oversees the precious metal public and private equity portfolios and is currently the Executive Chairman of the Board and Interim Chief Executive Officer of Marlin Gold Mining Ltd (TSXV:MLN). As a result of the recently completed C$11.5 million financing on March 21, 2017, Eric Sprott now owns 12.9% of the outstanding shares of Metanor or 19.5% on a partially diluted basis (assuming the exercise of all warrants) and Wexford Capital LP now owns 14.1% of the outstanding shares of Metanor or 19.7% on a partially diluted basis. We expect the board change, strong shareholders and the recent financing to be positive catalysts for the stock and may be the initial driver for a re-rating relative to peers.  read more

Sunday, February 26, 2017 Derek Macpherson

RCKS Pre-PDAC Mining Showcase Presenter Preview

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On Friday March 3th, 2017, Red Cloud Klondike Strike Inc. will be hosting its 5th Annual Pre-PDAC Mining Showcase. The event features presentations from 21 companies, including a themed lunch presentation by leading corporations in the gold mining sector. Visit the event page for more details on the day’s schedule. In this post, we provide a brief preview on the 21 presenting companies and 13 banner sponsors that will also be in attendance.  read more


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