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Metanor Reports Its Results for the Quarter Ended September 30, 2017
Nov. 29, 2017 08:56AM PST
Precious MetalsMetanor Resources Inc. (“Metanor”) (TSX VENTURE:MTO) is pleased to report its financial and operating results for the quarter ended September 30th 2017. This press release should be read in conjunction with Metanor’s financial statements for such quarter and related Management’s Discussion and Analysis (MD&A); both of these documents can be found on the Company website …
Metanor Resources Inc. (“Metanor”) (TSX VENTURE:MTO) is pleased to report its financial and operating results for the quarter ended September 30th 2017. This press release should be read in conjunction with Metanor’s financial statements for such quarter and related Management’s Discussion and Analysis (MD&A); both of these documents can be found on the Company website at www.metanor.ca or on SEDAR www.sedar.com. All amounts are in Canadian dollars unless stated otherwise.
As quoted in the press release:
Bachelor Property
Gold production of 7,293 ounces;
Gold sales of 7,047 ounces;
Gross revenues of $11.3 million from gold sales for the quarter at an average realised price of $1,610 per ounce sold (US$1,285/oz using an exchange rate of US$0.80/C$1.00);
Net revenues of $10,548,861 from gold sales for the quarter after sales of ounces in the stream agreement.
Cash Cost1 of $1,243 per ounce sold for the quarter (US$ 992/oz using an exchange rate of US$0.80/C$1.00 – the cash cost is composed of all costs related to the mineral extraction and processing including royalties associated to the property, and by-product credits.
10,965 metres drilled during the quarter, confirmation of the expansion of the Main vein below level 16.
