The valuation is certainly off the charts if things unfold as planned (I suspect you would want to position yourself long before the new resource estimate planned for Tuesday according to release); People heads-up on Metanor Resources (TSX VENTURE: MTO) (US Listing: MEAOF) (Frankfurt: M3R) as Metanor, a unique exploration junior with well over $35,000,000 of gold poured to date from their 1200 TPD mill, will soon release (ON TUESDAY ACCORDING TO PRESS RELEASE) a new NI 43-101 compliant resource estimate on its Barry open pit gold project in Quebec. Metanor is progressing with plans to access the high grade underground ore at Bachelor Lake and is feeding the mill on an interim bases with ore from their 100% owned Barry open pit deposit.
For those new to Metanor a good place to get up to speed is the following article http://miningmarketwatch.net/mto.htm your window of opportunity is closing imo there things are shaping up too rosy.
For those already in, add on the dips (if any) and hold those shares tight as you need to be in the game to profit and Metanor is executing on a growth strategy, growth in ounces poured and growth in resource base.
Here is excerpt from radio interview just this week b/w VP of MTO and mining expert Jay Tayor (who is head over heels in love with MTO, it is his TOP pick in his newsletter out this week)…
VP of Metnaor: “once the 43-101 is public and once we start our drilling campaign the strategy at Metanor will be a little different. The Barry pit with lower grade but higher tonnage and with a good drill campaign up to 50,000m, maybe starting with 20K- 30K right away, I think we could double that resource number that we are going to announce [next week] and then I think after that we can get a bankable feasible study. We envision Metanor in the future with the Bachelor Lake mill handling [only] Bachelor and Hewfran ore -- the original game plan was to be 700TPD [high grade] from Bachelor and 500TPD [lower grade] from Barry and that was going to give us ~60,000 ounces [gold per annum], but if we remove the 500TPD from Barry and replace it with 300 – 500TPD from Bachelor you end up with almost 100,000 ounces [gold per annum] just from Bachelor Lake at the Bachelor mill and if you put a 8000 tonne concentrator at Barry Metanor becomes a 150,000 – 200,000 ounce [per annum] producer in two years. Right now I think we will be identified as a successful exploration company that also produces.” - Its going to get very interesting