RE:How do you price an explorerWithout any resource or reserve calculations it is pointless to try to value this company at this time. Every million ozs in the ground will be worth ~1 billion CAD to them divided by 200 million shares, assuming that they mine it themselves. I believe that they will have 5 million ozs down to 400m between the Keates Main Zone, Keates North, Golden Joint, Lotto and Lotto North. If the seismic survey maps the veins down to 2000 m they will have an inferred resource of another 20 million ozs.
It all boils down to put your money on the table and spin the wheel or watch from the sidelines. You have no numbers to crunch at this time. Maybe some time this year. For the record you missed the big speculative bubble of 2021. This is now the slow grind of finding more ozs in the ground.
Management is interested in building a mine and then a mining camp. Two investors own 50% of the company so management doesn't have to care too much about appeasing the other 50%. As a long term investor I recommend NFG for a 5-7 year hold. In the short term I have no clue what it's fortunes will be. Some people think that it's a takeover target for the big boys. I have my doubts. I will put my money on a joint venture with a mid tier miner.