RE:2 weeks till the PDAC show. Was doing some reading.....braindeadoldguy wrote: It's hard to sit through this, but we have to. Everything I read about the market cap on NFG states that most think it is way too high, even with the richness of the ore found. There are a lot of comparisons to Great Bear, it's recent sale, and also a lot of that "it's early days" in Newfoundland, and almost every mining excuse in the book to say how overvalued NFG is. That is because analyists and people in general are tying it to historical references.
Let's pause for a second and think how it came to this. When Quinton went to Australia and saw Fosterville with his own eyes, he pronounced it an epizonal gold deposit, and from his analysis a sale took place, and the rest is history. or is it? In the early days, 2005, Fosterville began production as a low grade producer. It was not until 2015 that the eagle zone showed high grade flakes of gold. Now please, think this through. In just 7 years, go and see the production details of Fosterville. It's crazy, but real. It will heppen here as well.
Flash forward. Quinton saw the Queensway area first hand, and stated that "it looks liike Fosterville, an epizonal gold discovery." Drilling to date is proving that up, and what is most important is the GRADE of gold, and the fact that it is NEAR SURFACE. Fosterville is now quite deep, and is still the lowest cost gold mining operation in the world.
So I think it is just a matter of time for NFG to become a similar, low cost, high gold grade driven
mine with many years of exploration to come to flesh this thing out. We know where bedrock is, so you're not going below that. We know the grades that are found, and basically there is some gold in almost every drill core to go along with that.
So is the market cap too high? What you are buying now is the future to come. Only human nature can stand in your way.
Bdog
This stock is not overvalued if the date is June 29 2024. Drilling needs to catch up to market cap. Stock price has been saying this for some time now. Probably not a bad place to have your money if you are a VERY patient person.