Saturday, September 22, 2018Canada's Leading Online Business Magazine

Metanor Resources

Metanor_Resources_147977377
Setting the Bar in Gold Development

Metanor is a junior mining company that was formed in 2003 and operates its head office out of Val-d’Or, Quebec. The company, which has had a number of successful financings, is North American’s newest gold producer at the Bachelor Lake mine. Just over 100 people work with Metanor today, a small staff considering the company’s enormous potential in the gold market.

Metanor is focused on the exploration of mining properties with a view towards their commercial operation capacity. The company’s efforts are directed towards the prospection of gold deposits, and the Corporation owns six mining properties located in Québec. Metanor also holds an option to acquire a property in Sudbury, Ontario, expanding their reach across the east.

Ron Perry, Vice President & Treasurer of Metanor, is confident when it comes to the potential for success, in what has lately been a tough market.
“We have a lot of work to do, but we have assets through which we can expand the resources of our land. Metanor is well-positioned to be in the business for a long time.” The company has a large stake in properties in Quebec and Ontario for gold development – and they are currently witnessing the fruits of their labour.

Gold in a risky market

The company sold its first commercial gold bar at $1,018CDN/oz on October 8, 2008. For a junior gold company, this is a huge indication of successes to come, despite a rickety stock market.
Perry says that “a stock’s a stock no matter where you are. But gold is holding strong in the market despite tough times”. He adds that “if you have to spend capital resources building roads and infrastructure and don’t have the capital, or are in debt, then you’re in trouble in this market today. But we are fortunate to have credit available and have virtually no debt”. The company has every reason to believe that they will sustain themselves through the next difficult years to come. “Profitability in any development depends on the grade of gold you produce, and we’ve been pushing through a high quality of our resources.”

Metanor has been able to keep up with public demand for accountability, despite a high level of scrutiny on the mining industry. “We’re as green and socially responsible as we can be in this industry. Our environmental efforts are second to none. We take our obligation seriously. When you mine, you have to restore the property where you mine properly in order for shareholders to remain confident in your business.”

Perry says that the company’s shareholders are as confident as management in the company’s future.

“We have excellent corporate shareholders, many of them are local, and many of Quebec’s who’s who are shareholders of Metanor. To have that kind of backing is a significant show of confidence in our value proposition. We’ve taken this small company, and have developed it into something successful in a very short period time, and on budget.”

Social responsibility is a first priority

Perry assures that the company’s commitment to social responsibility is a primary concern going into 2009.

“We’re very concerned about the health and safety of our workers, our relationships with the groups of people we interact with, and the impact we have on the environment. To date, we’ve never had an accident at the mine. We’re very proud of that. We have very good relationships with the First Nations bands in the areas where we mine, and we are committed to being socially responsible overall.”

Overall, Perry has a positive view on Metanor’s future: “We’re all shareholders, and we are committed to increasing our shareholder value. Management has 200 years of combined experience. We have the expertise, the team, and the resources to be successful – and we plan to be just that.”

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