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With the issuance of permits now for their Batchelor Lake gold milling facility, it is clear sailing to commence production. Now is the time to pay attention to MTO.V shares as the current valuation should make upward adjustments to reflect forward discounted future revenues of Metanor as a gold producer with a solid expandable resource base in a mining friendly region.

The newly refurbished mill will be scaled into production this January starting at 550 TPD and then moved up to 650 TPD. The initial production for year one according to the company will comfortably be 35K ounces, but Mining MarketWatch notes that it is able to readily upgrade and tweak to 1000 TPD when appropriate.

Management has been impressive in its ability to execute upon plans to achieve this milestone and Metanor now sits with a large cash balance (approximately $6.5M as of January 08) and entering a cash flow positive production mode. With less than 67M shares outstanding and trading under $1US, the market cap of MTO relative to its resource base/production expansion plans and future revenues make MTO.V among one of the most attractive vehicles for gold investors in 2008.

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