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UPDATE: Metanor Produces 3017 Oz of Gold at Bachelor Project; Shares Sink 2.5% Late Morning

Metanor Resources Inc. (MTO.V) today released an update regarding the current development of its Bachelor project.

Metanor produced 3017 ounces of gold in February, compared to 2 236 oz in December, bringing the total production since July to 13,128 ounces of gold. The ounces produced in February come from 18,186 tonnes grading 5,34 grams per tonne recovered at 96,7%.

The average tonnage in February was 650 tonnes per day (Tpd) compared to 447 Tpd in January, and 275 Tpd in December. The commissioning of new stopes allowed the company to deliver a steady flow of ore to the mill.

Furthermore, the company announces that it has been granted an additional three month delay before commencement of capital repayment of the Ressource Quebec.

Metanor is now trading at 20 cents, down half a cent. Close to 130,000 shares have been traded.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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