Hey there junior mining investor: Having a bad day? DON'T WORRY!

Hey metalshead, have you been suffering through the January correction? Sad and worried about gold at $1315/oz? Hey, cheer up dudette/dude, because there's always someone worse off than you. For example the poor saps who've been suckered in by Metanor Resources (MTO.v) and have stayed long all this time:

Yep, that's a new 52 week low today (2 year low in fact) and just a squidge off the late '08 crisis lows, too. So if you're feeling glum about the market today, cheer yourself up by having a good fat laugh at the MTO idiot longs. Unless you're one yourself of course. If you are, this song is for you:

Mining PRs and the Ottotrans™, Part 32

Today it's the turn of our old pal Metanor (MTO.v).

This is what they wrote:

VAL-D'OR, QUEBEC--(Marketwire - Dec. 14, 2010) - Metanor Resources Inc. ("Metanor") (TSX VENTURE:MTO - News) is pleased to provide an update on its activities at the Bachelor Lake Gold Project.
BACHELOR LAKE MINE
As mentioned in the press release dated October 4th, Metanor is beginning to sink the shaft another 600 ft to develop two new levels. These 2 levels will provide access to the lower portion of the mine's 43-101 resource and allow the completion of a bulk sample targeted at 5,000 tonnes.
On November 3rd, the mining contractor brought their shaft sinking equipment to switch from rehabilitation to sinking mode. As of December 13th, the commissioning is nearly completed and on schedule. The first blast, at the shaft bottom, is planned before year-end.
In parallel, the project team is progressing on the Pre-feasibility Study at Bachelor Lake Gold Project. Metanor has selected Stantec Inc. (TSX: STN - News) as an Independent Consultant to complete the Pre-Feasibility Study in collaboration with Metanor's project team. Before year-end, the company is planning to release the pre-feasibility numbers including the reserves for this project.
BACHELOR LAKE-POTENTIAL NEW ZONE (DIAGNOS Target)
Due to the recent excellent grab samples, Metanor initiated a stripping campaign and has removed minor surface overburden to access the structure on both sides of the main road to the mill. The structure which is visible now is close to 300 feet long by about 30 feet wide and is still open in all directions. Further, a diamond drill rig is presently on site and has commenced a 1,000m drilling campaign on this promising new zone only 3 km from the Bachelor Lake Mill. Results are pending and should be released before year-end.

And this it what it means:

VAL-D'OR, QUEBEC--(Marketwire - Dec. 14, 2010) - Metanor Resources Inc. ("Metanor") (TSX VENTURE:MTO - News) is pleased to provide an update on its activities at the Bachelor Lake Gold Project. We are currently spending the last chunk of money raised in the latest of a never-ending sucession of dilutive financings at a really good rate of knots and will be able to run the usual bullshit smoke and mirrors operation on you suckers once the results are in and our PR company puts together a flashy news release or two. Give it a month or two for our latest round of to da moon Alice pump jobs and we'll then run yet another dilutive financing on your hapless tushes, but don't worry 'bout that cos you can always come and visit us. We're really nice guys and you get to eat poutine once the tour is over. 

Mining PRs and the Ottotrans™, Part 26

Following on from Part 25 of our series last week that took a look at a NR from Metanor (MTO.v), this week The Ottotrans™ checks out the latest NR from....errrrr....Metanor (MTO.v).

This is what they said:

VAL D'OR, QUEBEC--(Marketwire - Sept. 21, 2010) - Resources Inc. "Metanor" (TSX VENTURE:MTO - News) is pleased to announce the results of a new resources calculation of the Barry Gold Deposit.

The Gold Resources above 0.5 g/t for the Barry deposit were re-evaluated by SGS Canada Inc. (SGS Geostat office)in compliance with NI 43-101 and are now estimated at:

--  309,500 oz Au of Indicated Resources (7,701,000 t at 1.25 g/t Au) 
    
--  471,950 oz Au of Inferred Resources (10,411,000 t at 1.41 g/t Au) 
    

These resources were calculated for the Main, West, 43 and 45 mineralized zones which are included in a wide north-east striking deformation corridor. This resource re-evaluation is incorporating all recent drill results performed by Metanor in 2008-2009 (245 ddh's totalling 29,075m) and allowed to extend the mineralized zones almost 1,3km in a southwest and northeast direction. The mineralized corridor is open laterally and at depth. This resource re-evaluation was performed with a 0.5 g/t Au Cut-off and using the inverse distance method. High values were cut to 35 g/t Au and a fixed density of 2.8 g/cm was used for this calculation. A major portion of the resources are at, or near surface and are considered open-pitable, thereby reducing operating costs significantly. A study also confirmed the non-acid generating nature of the host and mineralized rock at Barry (Bodycote Material Testing).

The Barry gold deposit is located in the Urban-Barry greenstone belt approximately 65 km southeast of the Bachelor Lake mine. Numerous forestry roads link Barry to the Bachelor mill (1,200 t/day), facilitatingmaterial transport. An induced polarization (IP) survey executed by Abitibi Geophysique of Val d'Or in 2009 localized strong anomalies similar to those associated the main zone approximately 1.5km to the southwest of the west extremity of the pit and approximately 2.2km to the northeast of the east extremity of the pit. Extensions of mineralized zones were intersected in diamond drill holes at a vertical depth of 450m and are still open at depth. IP anomalies also demonstrated the potential of extending gold bearing zones of the Barry deposit to a minimum distance of 8.5km and the potential of considerably increase the resources during future diamond drilling programs.

SGS-Geostat will submit a NI 43-101 Report on the Barry project within 45 days witch Metanor will file on SEDAR.

All the information mentioned in this document was prepared under the supervision of Mr. Andre Tremblay, P. Eng. and Qualified Person under National Instrument 43-101 and revised by Claude Duplessis Eng. QP for the resource estimates by SGS Canada Inc.

Shares issued: 133 595 947

TSX Venture Exchange does not accept any responsibility for the adequacy or the accuracy of the press release

And this it what it means:

Dear retail saps,
Were you expecting something a little different from us?

Haven't you learned by now just how many times we overpump the market and then disappoint when the facts arrive?

Bisous, Serge.
xxxxxxxxx

Mining PRs and the Ottotrans™, Part 25

Today we run the Ottotrans™ over the latest news release from Metanor (MTO.v):

This is what they said:

VAL-D'OR, QUEBEC, Sep 16, 2010 (MARKETWIRE via COMTEX) -- Metanor Resources Inc. ("Metanor") is pleased to announce that the Company has been informed by its consultants that it will receive tomorrow the results of the NI 43-101 resource calculation on its very promising Barry Property. The Company plans to disseminate these results by way of press release Tuesday the 21st of September, 2010. 

Metanor Resources Inc. would again like to thank all of its shareholders for their confidence and their patience during this waiting period. 

Mr. Andre Tremblay, P Eng. is the qualified person pursuant to National Instrument 43-101 and supervised the technical information presented in the news release. 

133,595,947 outstanding shares. 

The TSX Venture Exchange neither their regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) does not accept responsibility for the adequacy or accuracy of this release.

And this is what it means:

VAL-D'OR, QUEBEC, Sep 16, 2010 (MARKETWIRE via COMTEX) -- Metanor Resources Inc. ("Metanor") is pleased to release this very important news release that explains we'll be releasing an even more important very important news release once this news release is released. We know we've told you that the results of the NI 43-101 resource calculation were coming on several occasions recently but this time we're serious, ok? We're so freakin' serious that we're releasing this news release to tell you that the news release really is going to be released next week.

Metanor Resources Inc. would like to thank all of its suckers for riding this no-win stock all the way through our ridiculously exaggerated dilutive policies. 

It's junior mining Quiztime!!!!!!!

YESSS!!!!! It's time to test your analytic abilities, folks!!! Sent in by reader 'RB' who writes:

"....scroll through this and see if you detect a pattern......."

So go ahead lucky contestant, click the link and see what you think!!!!! Good Luck!!!!!!!!

Metanor Resources (MTO.v): Why management is more important than rocks for retail investors

Back in April 2005, Metanor Resources was a gold junior with a good story to tell and had just 13.35m shares out. To cut a long DD story short I looked at the stock, liked it at the time and bought it. I was in and out of the stock for a while until the penny finally dropped on the play around late 2008. That's when I sold for the last time and never went back. Here's why: A little list of the dilutive financings that MTO.v has run in the last five years.

Metanor (MTO.v): A Story of Dilution
Date	units	price	total funds
Apr'05	565,000	$0.60	$339,000
Jun'05	5,219,168	$0.60	$3,131,501
Jan'06	201,000	$0.60	$120,600
Jan'06 (f/t)	543,000	$0.70	$380,100
Feb'06	666,667	$0.60	$400,000
Mar'06	395,000	$0.65	$256,750
Nov'06	4,709,079	$0.50	$2,354,540
Dec'06	5,032,321	$0.50	$2,516,161
Jul'07	625,000	$0.80	$500,000
Dec'07 (f/t)	4,587,469	$0.80	$3,669,975
Feb'08 (f/t)	5,000,000	$1.00	$5,000,000
Dec'08 (f/t)	4,288,089	$0.45	$1,929,640
Mar'09	24,354,800	$0.50	$12,177,400
Apr'09	2,495,000	$0.50	$1,247,500
Dec'09	3,370,000	$0.50	$1,685,000
Dec'09 (f/t)	9,227,227	$0.58	$5,351,792
Jan'10	4,000,000	$0.50	$2,000,000
Mar'10	5,820,000	$0.50	$2,910,000

(f/t = flow through)

That little lot adds up to nearly $46m in proceeds and in that time we've seen the shares outstanding column balloon from 13.35m to 128.2m. But as this chart shows....

....unless you were very smart/lucky and sold on one of those two spikes to over a buck, benefit has never been passed on to the shareholder. What we have is a company that has soft-soaped the retail community for half a decade, grown its company nearly to nearly 10X market cap but has given zero, zip, squat back to the people that funded the gig. And all this time, even though MTO is now supposedly in "commercial production", it has never returned a quarterly net profit. Not once.

Making money in junior mining isn't about rocks, it's about finding a company that has the wellbeing of its shareholders as a priority. MTO.v has failed miserably on this score, so if you're the type of person who bets on leopards changing their spots go ahead and buy this stock. IKN avoids.

Mining: Not an exact science

Just in case you ever forget what mining is about, here's Reuters today:

TORONTO (Reuters) - Metanor Resources Inc (MTO.V) has suspended operations at its Bachelor Lake gold mine in the Canadian province of Quebec after an accident that left three miners missing.

The company said in a statement late on Saturday that it lost contact with two of its employees and an employee of contractor Montali after they were working late on Friday in a part of the mine that flooded.

Mining rescue and medical teams were dispatched while Metanor staff pumped water from the flooded portion of the mine. (Reporting by Jeffrey Hodgson; Editing by Michael Urquhart)

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Otto's freebies, get 'em while they're hot

At a loose end this weekend? Nothing meaty, useful and interesting to read? Well don't blame me. Choose from this list and get wise before Monday. Enjoy.

Free report from Moody's on the erosion in mortgage creditworthiness and the likely implications. This new report from Moody's is required reading to get a handle on the future credit map of the USA's real economy.

Free e-book "Vulnerability Management for Dummies". Teaches you how to protect your network system in easy steps. Highly respected publisher.

Free e-book "Reminiscences of a Stock Operator." Lefevre's all-time classic is as relevant today as it's always been. Regularly voted the best book on investment in the stock market ever written.

Free bespoke report on Metanor (MTO.v). Your humble servant gives away his NOBS wares at no charge.

Free bespoke report on Andina Minerals (ADM.v). Ditto, and real easy to get hold of, too.

Metanor (MTO.v): A free NOBS promo offer

The new NOBS bespoke company analysis service has started life well, I'm glad to say. Since starting the service on September 21st I've written 13 reports (one of those about to be sent tonight) which means I've been a busy little boy recently. Most reports have been about mining companies, but there have been some different subjects including one report that was more about the macro fundamentals of Colombia and how they might apply to a particular business venture than anything else.

So by way of getting the word out, I've decided (and the original client has agreed on this) to give away one more report for free*. The subject is Metanor Resources (MTO.v) and the report was finished and sent out on October 4th. The only thing I've done to the report is to blot out the name of the original recipient.

The idea, of course, is to get you interested in the service and maybe in the future you'll consider using it yourself (full details of the service can be found here). But please be clear that this is a no-strings attached offer. All you need to do is mail me at....

otto.rock1 (AT) gmail (DOT) com

....and I'll send you the note on MTO.v with no extra sales pitch, no pushy follow-up mails and no passing of your mail address to third parties either, guaranteed.

So if you'd like to read the MTO.v report, send me that mail and you'll get your copy in PDF format by return. And don't forget (if you haven't done so already) to take advantage of the original free sample, written on Andina Minerals (ADM.v) that you can find on this link. There have already been 145 takers on that report (a very pleasant surprise).

Thank you for your attention.

*this is will the last freebie, by the way.