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Last C$0.07 CAD
Change Today 0.00 / 0.00%
Volume 3.4M
MTO On Other Exchanges
As of 3:59 PM 06/30/15 All times are local (Market data is delayed by at least 15 minutes).

metanor resources inc (MTO) Snapshot

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metanor resources inc (MTO) Details

Metanor Resources Inc. engages in the acquisition, exploration, and development of mining properties in Canada. The company primarily explores for gold. It principally holds a 100% interest in the Bachelor Lake property with 241 claims and 2 mining concessions covering an area of 756,673 hectares located to the northeast of Val d’Or. The company was incorporated in 2003 and is headquartered in Val-d’Or, Canada.

Founded in 2003

metanor resources inc (MTO) Top Compensated Officers

Chief Executive Officer, President and Non-In...
Total Annual Compensation: C$236.4K
Executive Chairman
Total Annual Compensation: C$235.5K
Chief Financial Officer
Total Annual Compensation: C$60.4K
Treasurer, Vice-President and Non-Independent...
Total Annual Compensation: --
Vice President Operations - Bachelor Mine
Total Annual Compensation: C$245.0K
Compensation as of Fiscal Year 2014.

metanor resources inc (MTO) Key Developments

Metanor Resources Inc. Presents Update of Exploration Activity at Bachelor Mine

Metanor Resources Inc. presented an update of the exploration activity at Bachelor Mine. The team at Bachelor Mine intersected 12.8 g/t over 10.8 meters in the area directly beside the sector. The holes drilled in the zone identified as 8-H-14 are in the area between level 6 and 8 as indicated in the longitudinal section. The development of the top area of 8-H-14 on level 6 is underway. As of June 25, 2015, 23 meters of drift were excavated and the average diluted grade sampled is 11.2 g/t over 3.3 m wide. The development on level 6 is still going west (left on the longitudinal) and full width. The holes drilled in the area 6-H-10 are directly above the zone 8-H-10. The results are from two drills located on level 6. A drill is also drilling on level 12 to the south of the mine. These results will be published as they are available. The true width is between 65 and 95% of the core length obtained in diamond drill holes. The cap-off grade used in the analysis is 51.5 g/t or 1.5 oz Au. The samples were assayed by fire-assay at the Metanor assay lab. The quality control program of the assay results (QA QC) adopted by the company includes a minimum of 10% of controlled assays being conducted as well as verification by an independent external assay lab.

Metanor Resources Inc. Presents Update on the Exploration Activities at Bachelor Mine

Metanor Resources Inc. presented an update on the exploration activities at Bachelor Mine. Over a period of 45 days, 2,612 meters were drilled resulting into a resource calculation between level 6 and 8 by the mine technical service team using a polygonal method. Samples capped at 31 g/T, Drill density: 15m by 15m. The cost to drill the 2,612 meters of diamond drilling was $169,377 which corresponds to an average cost of $20.30 per ounce identified. A second drill is now active in the same area of the mine. The results will be published in the coming weeks once available. A total of 25,000 meters of drilling are planned in the same sector in the coming month.

Metanor Resources Inc. Announces Earnings and Production Results for the Third Quarter Ended March 31, 2015

Metanor Resources Inc. announced earnings and production results for the third quarter ended March 31, 2015. For the quarter, the company reported Gols sales of CAD 13,499,000 against CAD 18,408,000 a year ago. Operating loss was CAD 385,000 against CAD 618,000 a year ago. Net income was CAD 17,000 against loss of CAD 1,919,000 a year ago. Cash flow from operating activities of CAD 491,661. For the quarter, the company produced gold production of 9,860 ounces for the quarter. Gold sales were 9,518 ounces for the quarter. Milled 60,365 tonnes of ore at a feed grade was 5.3 g/T and a recovery rate was 96.1%. Ounces produced were 9,860 tonnes and ounces sold were 9,518 tonnes. Diamond drilling was 4,398 metres.


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