RE:RE:Seems the Mine vs Sell to BIG Gold issue has new intrigue
DanWarren wrote: Oops, fat fingered that...... When you think back on all the statements from the key players involved in NFG, it doesn't quite make much sense that they would want to just sell out to BIG Gold, and walk away from the biggest accomplishment/adventure of their life......Think of the degree of excitement we've witnessed from the key players in the story: Eric Sprott (ES): this may be the biggest gold discovery in Canada in a long time ( I paraphrase, and I'm still not sure if he was thinking of just NFG, or the whole Newfoundland scene. He did say this could be as big as the Atibiti gold district where they mined almost 200 million ounces, correct me if I'm off on that)........ Quetin Hennigh (QH): Who always seems excited about Queensway (QW) potential He keeps hinting ( remember, these insiders have to be somewhat circumspect in blue sky statements they make, I assume) that all these drilling targets on North QW are likely connected ( which would be a really big deal). QH said in one presentation at Crescat, I think, that he can see gold mining in NL continuing on 30 years from now....... The recent video release of Denis Laviolette and Collen Kettel, walking North QW and reflecting on how they started this, and DL saying there may eventually be ' many ' mines on QW........ ES buying more and more shares in NFG..... All the construction on QW, the core shack and offices, the camp, the improved roads......The money they have given to local causes, the float in the parade.....their pointing out their good work force and how happy they are to be working at NFG....... When you take all of this in, the excitement, the building of the organization, and the relations with the NL community, it doesn't really jive with selling out to BIG Gold....... And, then the possible resource to be eventually discovered at QW, and, essentially, the impossibility of knowing how big that resource actually is, unless you mine these orogenic deposits over time and keep going deeper, like what happened at Fosterville....... and finally, the posts here about how reluctant Big Gold will be to pay much, coupled with ES and QH having engineered buying Fosterville for Kirkland Lake for a small fraction of what the value turned out to be, they took advantage of the sellers, then, who weren't aware of how huge Fosterville might be, so, ES may not want to be the chump in selling out to BIG Gold for what turns out to be a small fraction of the ultimate value of QW...... So, the plot thickens.......What is going on in the plans of the key players......but, my thought is that they are obviously convinced that NFG is a giant resource, and why wouldn't you want to build a company around the QW project, and then, the future is wide open in all directions, just like the Appleton fault line. NFG could become an up and coming, and innovative new player in the Big Gold Arena!.......Why Not?!
Most people out here on the Rock in NL seem to think New Found Gold will develop this project themselves. I always thought they would sell it to the highest bidder but why sell out for a few billion when it could be worth well north of ten billion. Perhaps Eric Sprott moving his holdings around to his daughters and out of his private holding company to Sprott Mining is all apart of becoming better positioned for the next chapter to be written. Or it might just be estate planning and we all have too much time on our hands.
Personally I think he wants it all. The entire island or at the very least the entire Appleton Fault. He could be getting ready to takeout smaller players in NL to get even more favourable geology. There will be a lot of high grade gold deposits along this trend. There is no doubt there will be tens of millions of ounces of gold discovered through the central gold belt of NL and NFG is the main player and will lead the way with the financial support from Sprott.