Metanor MTO.V Reports Financials for Q4 and Year Ended June 30, 2014

Metanor Resources TSX.V-MTO released its financial results for the quarter and year ended June 30, 2014. Below are Q4 2014 Highlights:

 

Q4 2014 Highlights
* Gold sales of 12,468 ounces on gold production of 13,083 ounces.
* Total of $16,523,725 in revenues from gold sales.
* Net Income of $ 1,078,441 for the quarter.
* Milled 61,905 tonnes of ore at a feed grade of 6.8 g/T and a recovery of 96.9%.
*Cash Cost of $873 per ounce sold in Q4 (US$786/oz at an exchange rate of US$0.90/CA$1.00).
* Sustaining cost of CND$1,051 per ounce sold (US$946/oz using an exchange rate of US$0.90/CND$1.00).
* All-In cost of $1,123 per ounce sold in Q4 (US$ 1,010/oz at an exchange rate of US$0.90/CA$1.00).

Full-Year 2014 Highlights
*  Total of $38,488,620 in revenues from gold sales.
*  Net loss of $2,875,391 for the year.
* Cash Cost of $908 per ounce sold(US$817/oz at an exchange rate of US$0.90/CA$1.00).
* Sustaining cost of CND$1,071 per ounce sold (US$964/oz using an exchange rate of US$0.90/CND$1.00).
* All-In cost of $1,195 per ounce sold (US$ 1,076/oz at an exchange rate of US$0.90/CA$1.00).

Go to www.metanor.ca for full news release on financial reporting for this period.

Metanor continues to develop new drifts to the west at the Bachelor Mine and will continue the diamond drilling in the coming months to eventually add new resources and reserves.

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