Case Study: Metanor Resources
$10 Million Senior-Secured Credit Facility

Here's what we saw at Metanor Resources. An exploration stage junior gold company rich in resources. Metanor eventually put into operation a milling complex
and is now producing gold from its most prolific mine. Others didn't see it. We did.

TRANSACTION OVERVIEW

Third Eye Capital provided Metanor with financing for working capital, production planning, and expenditures associated with restarting a milling complex located on one of their main properties in Northwestern Quebec, a major gold mining area. Although publicly traded on the Toronto Venture Exchange, Metanor sought a non-dilutive transitional debt facility that would be repaid through an equity offering when its stock price recovered.

Metanor Miners

OPPORTUNITY

Metanor Resources Inc. is a gold exploration company, with significant mineral properties in Northern Quebec and Ontario, and possessing a senior management team with a track record of developing profitable mines. In order to properly realize the significant measured and indicated resource potential that had been identified at one of its mining properties, Metanor needed a financing partner that could recognize value not yet reflected in the company's stock price. We saw a company with committed equity holders, strong community and government support, and a solid operational team with over 200 years of combined experience in the gold exploration and production industry. We saw a mining company with a milling complex that was strategically located in one of the most prolific gold resource areas in Quebec. Metanor was an emerging producer ready to shine, and we saw it.

OUR APPROACH & OUTCOME

Metanor's remote location and early stage production profile thwarted other lenders, who failed to see the opportunity and value in the company's assets. We took a hands-on approach to understanding the company's needs, and developed a financing solution that was customized to Metanor's unique circumstances. We help good companies like Metanor, which cannot access conventional credit due to perceived risk, size, complexity, or timing, reach their busines goals. We assess transactions from the perspective of the business owner, and match our capital to not just business need but also asset value potential..

We aligned ourselves with Metanor by providing an interim financing solution that enabled the company to execute on its strong production opportunity. Metanor eventually unlocked value for all of its stakeholders by getting its mining properties into production. We saw so Metanor could shine.

"At Third Eye Capital, we pride ourselves on taking a broader perspective in order to grasp a company's full potential. We look through another lens to see the latent value hidden in assets which allow a company to be viable and thrive."

Arif N. Bhalwani