New Found Gold Corp V.NFG

RE:RE:RE:RE:IndustryNews - Newcrest gets takeover bid from Newmont

[AlwaysLong683]

Retiredgeo wrote: An offer has been made but not yet accepted.  Pundits are weighing in.  Some reject the offer calling it a bad deal for Newcrest.

I don't think a major will be interested period, unless they can flesh out an open pit at Keates West.  These narrow vein deposits just don't have the tonnage which interests the big boys.

A joint venture could be announced at any time along with various option agreements for various parts of the Queensway property.  I'm expecting JBP north to be optioned off.

I doubt Eric would fund a mine.  As long as they have a bankable feasability study in hand any Canadian bank will do.  The bank would probably demand a third party with mining expeirence.

Did Kirland Lake Gold make a mistake when they took out Newmarket?

Newmarket had an unremarkable open pit operation at Fosterville with a promising underground mining initiative when KL acquired the company.

Also, don't forget that before Fosterville, KL's underground mining operation at Macassa was a jackpot discovery that started KL's rapid rise in share price prior to the Fosterville score.

I doubt Collin Kettell / Pallisades wants to be in the mining business - it doesn't jive with their approach and stated objectives re. investment in junior resource explorers.

Sprott may not agree with Palisades re. takeout by a major, but not sure how long he's willing to wait given his age, whether his children are interested in picking up the ball, alternative plans.....?

RE. Newmont's proposal to Newcrest, I agree the currrent offer is likely not enticing enough, but my guess is Newmont increases their bid then negotiates with Newcrest's BOD and chances are a deal will be struck. May take some time though.

Lastly, looks like Palisades may have reduced / dumped / reconsidered their prior positions in LAB and NKG as NFG is the only company listed on their website that appears under their Concentrated Bets section where they try and build "....control positions in strategic assets in top rated jurisdictions.These larger investments are selected on the basis that they will be of interest to larger companies, providing the potential to realize change of control premiums in addition to value appreciation."