Goodman adds 800,000 shares of Metanor

Goodman Company recently added 800,000 shares of MTO to 10 million already owned for a total of 10.8 million shares. Goodman distributes shares to investment mutual funds. That is about 15% of Metanor's outstanding float. Another group of large holders of Metanor are self-directed individual investors I am familiar with who hold a self-reported 13% of Metanor shares. Add another 7% or so and that puts about 35% of Metanor's shares in what I consider strong hands. Other institutional holders are likely also strong hands and adding those holders in means the total is over 50% if my memory serves me.

Metanor's share price is consolidating nicely above $1.00 a share. I expect the share price to rise from this level after 1Q financials are released and into June. How much higher the shares run is anyone's guess.

Everything seems to be on track for Metanor Resources. Timely hitting of milestones in the execution of a plan is a key trait I look for in emerging junior gold mining producers. Metanor has executed well so far in 2008.

Here is the SEDAR report language by Goodman and Company.

"Since our last report filed on March 10, 2008, G&C, on behalf of one or more of the mutual funds or other client accounts managed by it, acquired 800,000 common shares of Metanor Resources Inc. (“Metanor”). This represents an increase in G&C’s position of metanor by 1.12% on an undiluted basis, as at March 31, 2008.

The designation and number or principal amount of securities and the eligible institutional investor’s security holding percentage in the class of securities at the end of the month for which the report is made. G&C, on behalf of one or more of the mutual funds or other client accounts managed by it, exercises control or direction over 10,800,000 common shares of Metanor. This represents an approximate 15.05% interest, on an undiluted basis, as at March 31, 2008. "

Cheers!