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Company Spotlight
Paramount Gold & Silver Corp. (TSX: PZG, NYSE: PZG)
Paramount Gold & Silver Corp. is a U.S. based exploration and development company with + Read More
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The Ubika Research Junior Resource stock watchlist (Week of August 30, 2010)
| Metanor Resources Inc. (Symbol: V.MTO) |
| Company Name: |
Metanor Resources Inc. |
| HQ Location: |
Val-d'Or, Quebec |
| Company Website: |
www.metanor.ca |
| Closing Price (Aug 30, 2010) |
$0.56 |
| Market Cap: |
$71.9 Million |
| Average Daily Volume |
333,000 |
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The Ubika Research Resource Stock Watchlist is a feature that profiles junior mining stocks. Visitors will discover high potential Canadian mining stocks, the best gold stocks, small cap energy stocks and junior gold companies through this very popular feature.
Share Highlight / 1-Year Stock Chart
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Business Overview
Metanor Resources Inc. is a Canada-based junior gold exploration company engaged in the exploration and development of gold mining properties in Quebec, Canada. Metanor has 7 properties (6 in Quebec and 1 in Ontario) of which 4 of those properties (Bachelor Lake, Hewfran, Barry and Dubuisson) have a total of approximately 1,000,000 oz of 43-101 NI Complaint gold resource. The company is currently engaged in a small scale gold production at its 100% owned Bachelor Lake Facility in Desmaraisville Quebec and continues to explore for gold at its flagship Bachelor Lake and Barry gold properties.
+ More info
What is interesting?
- A fairly advanced junior gold exploration company with sizable land holding and very promising exploration projects in one of the most promising gold mining districts in Canada.
- The company is currently focused on Bachelor Lake and Barry properties, both of which have significant exploration potential.
- The company is currently generating cash flow through small scale production at its Bachelor Lake property, which allows it to fund future exploration programs.
- The company’s projects are located in Quebec, Canada, a mining friendly jurisdiction with strong infrastructure.
- Both the Barry and Bachelor Lake deposits appear to be wide open for resource expansion.
- The Barry deposit is an open pit deposit and is only 65 km away from the Bachelor Mill. This property has strong exploration potential and can potentially lead to increased resource estimate for the company in the short term.
- The company has 100% ownership of the Bachelor Lake Mill in the prolific Abitibi Mining District of Quebec. This facility can process up to1200 tonnes of ore per day. The company is currently focused on consolidating and expanding gold resources in and around the Bachelor Lake Mill in order to maximize the potential of this mill and to establish its status as an emerging junior gold producer.
- The company believes that it has infrastructure valued at $150M including a proven, fully functional, permitted 1200 tonnes per day gold mill- the Bachelor Lake Mill, which is currently operating with approximately 95% rate.
- The company has a strong and stable management team at the helm.
- The company is backed by some prominent financial backers including Sprott Asset Management, and Goodman and Co. which have taken equity stakes in the company. Major institutional shareholders own approximately 49% shares of the company.
Risks
Metanor Resources is an early stage exploration company. The commercialization risks associated with gold mineral exploration and development are high and its prospects for discovering economically viable gold resources are uncertain. Gold prices can fluctuate and a decline in the gold prices could impact the share price of the company adversely. Early stage exploration companies typically needs significant amount of capital and although currently well financed, Metanor may still require additional financing. This could result in shareholders’ dilution.
Metanor Resources Inc. News
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