RE:Update You know the Appleton fault is a major suture in the earth's crust that goes from southwest to northeast in direction. So I've been saying on the northern side of the fault and southern side of the fault but perhaps I should be saying on the eastern side and western side instead. Not sure about that one. Or I could say on the northwestern side and southeastern side of the fault which would be more accurate. I would like to know how the NFG geologists refer to it so I could be more accurate in my explanations. Anyways just thinking out loud on that one.
I think this dip in the share price is only temporary and it will be back over $10 before we know it. Or perhaps it will nosedive again down to $7 this week and fill that gap that never got filled on the way up a few months ago. If it does I'm ready to buy more. I'm not an expert with stocks or predicting them but I can say for sure that NFG has a high quality asset with this Queensway property. Who knows what the eventual valuation will be but I'm confident it will be at least several billion dollars or more once it goes into production. Actually based on what has happened at Fosterville and Kirkland Lake's valuation going from one billion to 15 billion you could make a case for NFG having a similar valuation in 5 to 7 years once they are producing gold. What happens between now and that time with the stock is anyone's guess but in my mind I am thinking somewhere between $30 and $50 a share within a couple years is possible but hey there is just too many unknowns so it's just a ballpark figure and only speculation at this point. It will depend on drill results and market sentiment at the time driven largely by the price of gold. But if the past year is any indication I'm expecting more great drill results from NFG. I'm thinking another year or two of drilling before a production decision is made at Queensway. So I'm going with $30 to $50 before production and $100 plus once it is in production. How is that for being optimistic. It's fun to dream.
Perhaps I'm being a little too optimistic but that drill core looks absolutely spectacular. It's incredible to have so much visible gold. Very rare gold system with extremely high grade intersections. Mind blowing intersections. When a stock takes a nosedive you begin to question if you have missed something in your due diligence so it is good to go back and look at the facts as to why you bought a particular stock in the first place. And in my mind the Queensway property will be one of the best in the world that will take NFG's share price much much higher.