Metanor Resources (MTO.V) has announced it has reached a production of just over 50,000 ounces of gold in the past 12 months, which is a decent achievement and higher than the (reduced) guidance of 45,000 ounces. For the current financial year, the company expects to produce at least 50,000 ounces of gold and this should convince the market the company now is a steady-state producer.
As the company is still conducting an underground drill program, the confidence in its resources and mine plan should be strengthened, and we hope the company can beat its 50,000 oz milestone in the next 12 months. We will release an updated report on Metanor once the quarterly financials will have been filed.
> Click here to read the press release
Disclosure: The author holds a long position in Metanor Resources. Metanor is a sponsor of the website. Please see our disclaimer for current positions.
