Business
Metalore Resources Limited - News Release
Metalore Resources Limited - News Release
About this update from Metalore Resources Limited
[{"type":"text","content":"\n\n\n\n Nov. 15, 2010 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nTORONTO, Nov. 15 /CNW/ - Metalore Resources Limited (MET-TSX) reports a\n six month net profit of six cents per share for the period ended\n September 30, 2010, compared to three cents for the corresponding\n period of the previous year.  Lower natural gas prices (forecast) are\n expected to reduce production revenues for the second half of the\n fiscal year; however, this will be partly offset by gains on our\n investment portfolio.\n\n\nThe Company's Second Quarter MD&A states under "CURRENT BUSINESS\n STRATEGY"\n\n\nDuring the six month period  reported herein Metalore staked an\n additional 172  mining claim units1, more than doubling our land position in the Cedartree Lake area,\n Northwestern Ontario, where an accelerated two year exploration program\n is well underway.\n\n\nFrom July through September we forged some six kilometers of "buncher"\n access into remote locations in wilderness territory and conducted\n geophysics and power stripping on select targets along the way.  We\n also exposed the projected extension of the main gold zone on surface\n for an additional two hundred meters with power stripping.  Early in\n October we commenced detailed geological and structural mapping of the\n main gold zone and by mid-October we resumed diamond drilling (for the\n first time since March 2008).\n\n\nMetalore will be applying the optimum of human, technical and f...