RE:question about NFG... nozz???I can find no timeline for due diligence but that would not have taken very long .
If you read the intro to the NFG news release , it's obvious that such a tolling agreement is not only desirable but essential to NFG's stated intent to begin early production.
Stated in factual terms , early production of their most advanced discovery ...Keats..cannot happen without access to Maritime's mills for the simple reason is that , considering the lead time to build their own mill onsite........at least 5-7 years ...and at considerable expense ...and have stated as not their intent.
In fact, the earliest production that NFG can count on is our HammerDown mine beginning in 2025.
Taking over MAE will solve NFG's quest for early production plus secure future access to those mills when Keats has permits to begin mining .
Sprott owns over 20% of NFG .
He has interests in MAE.
My scenario is that NFG buys out MAE and spins out Queensway South along with Maritime's exploration projects as their Exploration Arm, a NewCo listed on the TSX under MAE.
There is no other way that NFG can meet it's early production plans .
There have been rumours that Queensway ore has already been trucked for test milling at Point cove along with capital investment needed to expand processing capacity .
They would do this mostly using NFG equity which would be a double benefit , given Queensway bright future .
Its why I keep nibbling away at those very cheap shares ......
" This all bodes well for the potential to realize significant value through timely production.
In my experience the opportunity to develop an early operation, even if at a smaller scale, allows for significant risk reduction.
While we have plenty of work still to do to determine the viability of any such early production scenario, the option of having access to a gold processing facility located nearby is of significant interest.”