Here’s what I would looking at shorting among mining stocks. Currently, the two stocks I am most interested in shorting are UUUU ($105M market cap) and NG ($1.08B market cap).
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metanor resources MTO
Metanor Resources: Trying to dig itself out of a hole
Metanor Resources trades on the TSX Venture exchange under the symbol MTO. At 14 cents/share, its market cap is $37.42M.
Excluding its mining assets, the company has around $11.522M of assets versus $52.633M of liabilities. This would imply a value of $78.531M for the mining assets. The cash flow of their flagship Bachelor Lake mine suggest that the mining assets aren’t worth anything near $78.5M. The shareholders may very well be wiped out.
