RE:RE:RE:NEWS- NuLegacy Gold Granted Permit for the Iceberg DepositOne would think that ABX will do what's necessary obtain a 70% interest in the project. If I could, would I spend $15 million for a 70% interest in this project?
The answer to that is not only YES, but HE*L YES!
Looked at another way, if ABX did not, how much of the project would the company have to sell to raise $15 million, elsewhere? My guess is a heck of a lot less than ABX gets to control.
Meantime, NUG gets to retain a meaningful percentage of the project and avoid any further dilution. A wonderful advantage -- especially while mired in one of the worst bear markets ever in the mining sector.
The stock is evidently still on few radar screens -- else there would be no reason for the stock price to languish as it has. I have been using the opportunity to continue accumulation.
This recent news, by the way, is huge. To be able to further their exploration activities on a broader section of the land package is very important and once again, the market either doesn't get it or it's not paying attention.
We have some very good days ahead of us, IMO. Good luck, all.