Buyouts …Having Your Cake and Eating it too ;In my view, its either Firefky or NFG.
My preference is Firefky.
Why ?
1...We still get to toll mill NFG ore ( NL will not give a permit for processing any ore outside NL )
2...We share in much earlier and rapidly increasing copper production revenues
3..Great operational and asset synergies and savings by consolidation of operations at Point Rousse
4..We have the TSX listing that Firefly needs..increases our value
5..The 2,8 million ounce Pickle Crow gold deposit that is open pittable is a very valuable gem that we would share in
6..Early term, imo, Firefly share price will have greater acceleration rate than NFG ( ie higher velocity of my capital return )
7..Quality of Firefly management imo is much higher than NFG as they have the same asset development velocity as their parent ..Bellevue Gold ( discovery to gold production in 5 years )
8..Fully funded to production
9..Much greater liquidity as Firefly trades on the AUX exchange where average volumes of Firefly is in excess of 2 m shares per day ( They take stock promotion seriously)
Firefly trades at 3 times its net book .
They cannot offer us less than that.
AIMHO
Have a great Weekend