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or Name
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Metanor Resources Inc
Symbol MTO
Shares Issued 296,557,733
Close 2014-11-27 C$ 0.08
Market Cap C$ 23,724,619
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Taylor says sell Metanor Resources

2014-11-27 20:31 ET - In the News

Jay Taylor, in the Nov. 14, 2014, edition of Gold, Energy & Tech Stocks, says sell Metanor Resources Inc., recently nine cents. Mr. Taylor said buy five times between Feb. 12, 2008, and Jan. 17, 2011, at prices ranging from 42 cents to $1. He then said sell on Feb. 14, 2011, at 31 cents. Assuming a $1,000 investment for each of the five buys, selling the $5,000 position at 31 cents yielded a loss of $2,242. Mr. Taylor said buy three more times between Oct. 17, 2011, and Sept. 18, 2013, at prices ranging from 20 cents to 36 cents. A $1,000 investment for each of the three new buys, sold at nine cents, would yield a loss of $1,957. Metanor has been a big disappointment for Mr. Taylor because of its enormous dilution; it currently has 300 million shares outstanding. The company is unable to generate positive cash flow, and is also losing money under a deal with Sandstorm Gold Ltd. that requires it to sell 20 per cent of its production for $500 (U.S.) an ounce. That equals a loss of $375 (U.S.) per ounce based on its cash cost of $875 (U.S.) in fiscal Q3. Mr. Taylor is still fond of Metanor's Barry project in Quebec, but believes there are other producers with better near-term potential.

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