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The Gold Stock Strategist analyzes leading junior gold producers and major gold mining companies.

Comments are welcomed!

Wednesday, April 9, 2008

Metanor Reports 2,000 Ounces Production!!!

Yesterday, Metanor announced that they have poured 2,000 ounces of gold during their initial bulk sample phase that began in February. This is great news. Even better is that Metanor’s mill has been running 500 tons of ore per day without pause for 7 days a week AND they plan to soon move up to 700 tons per day. They are on track to produce at least 25,000 ounces of gold this year.

Metanor First Pour News Release

The share price had a nice bump today on the news from C$1.03 to C$1.12.

In a recent interview, Ghislain Morin, President and COO, indicated that the Barry deposit ore came in at close to 7 grams per ton in this bulk sample rather than the estimated 4-5 grams per ton indicated by test samples. That is even better news!

Al Korelin and Jay Taylor also released a report this week interviewing Metanor board members Ghislain Morin and Ron Perry. Both Korelin and Taylor see Metanor as one of the most undervalued juniors on the market now that they are producing gold.

Korelin Report

As I said, all of this is good news. But I suspect the market will push Metanor’s share price much higher only after they report positive cash flow and earnings.

This is still my favorite play in the emerging producer junior gold miner space and yesterday's release confirms my sense about this one. I expect Metanor shares to rise sharply sometime this summer. I could be wrong, but don't think so.

Congratulations to the "Boys from Quebec!"

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