RE:Lots of misinformation and made up comments flying through Speaking of disinformation.............
Nobody said that Rick Rule badmouthed NFG.
An MRE, because the company states that they have piles of gold lying around, is required for a portion of the claim for edification, so true value ON A PORTION of the land can be assessed.
Right now, it's a waste of time and money not to do one, because majors are walking away from an unproven and improbable claim, most of which comes from shareholders who speculate way over the top and create a picture that is not true. When the GGG said that NFG mangement goes to his website and read the gram/meter chart he has made up because they are not allowed to do that themselves, then I have heard enough. That kind of representation is truly disinformation, unproven with no true widths published anywhere, and missing from their statements are the blank drill holes and a lot of other things that if you pay attention, you know. Read the Crux report for clarification on these items. They are there, and they are facts.
Speaking of reckless financial waste, lol, the buyout of a previous partner was not an admission of guilt on the part of some of the management team? How about the seismic drilling that has zero potential of being proven and mined in the next 20 years?
Some think this is a gold district, but it is the figment of the your imagination until it is solidly proven up and a mine is actually built and established as a first step. How many more years to get to that point, if in fact it proves up to be economical? Some areas will lie dormant for decades to come.
So until this company proves it up with a trial mine of sorts, or shows a true recovery rate on tonnage, then I think they are simply afraid of the results and don't want to go there, even if only on the Keats zone.
Yes, there are plenty of reasons to own gold, but buying NFG is not one of them. You are not buying gold by buying NFG. Here you are buying the hope that gold will finally, one day, be produced, money is deposited into the bank, and it is finally proven up, or not.
As one posted so nicely, the company is drilling and not stopping, hoping that someone will finally buy it out and leave the buyer hanging with all the expenses that go into a potential mining operation. Majors are not going in that direction anymore, unless there is sufficient meat in the bone to warrent it. Sellers have to realize this and settle for numbers generally far below their own expectations when it comes to value. Just because someone makes a big bet and gambles on a potential inground play doesn't make it a realistic bet until proven. It is just that, a long term bet.
Buyers can also present NFG with the fact that very little of their own money was used to develop this play, raising most money from the markets in various ways and so portray a vision of "no debt" but everybody in this business understands the real math behind it all, and mangement has paid themselves well to boot while the play goes on.
All in all, it looks like a standoff, with lots more money required to drill more and hope for a buyer. Until then, all you get are distractions, changes in plans, no concrete direction to establish truth, and so you hold the bag going forward, I think, for quite some time to come.
I still think it will be good for trading though.
EK