NUG managment needs to re focus
I don't think a move in gold is going to move this to much, maybe back to 15 or so, the fact is NUG management needs to re-brand them selves to the market, this is still my criticism of them, they have done a horrible job, they are all over the place, what are they? the market acts as this property is worth little and this is just a pure exploration play, Canaccord Genuity identified that NUG is likely sitting on 1 million or more OZ as of today, that inst just an exploration play, this is an expanding asset but the market doesn't understand or care or even know, because NUG managements catch phrase is "we are batting for the fences" rather they need than "We have a significant expanding Oxide deposit in the works with strong evidence to suggest this could be an elephant" As of January they have about 5.5 million in the treasury, a substantial amount by most JR standards, if they keep tossing hail Mary's unless a mega hole is hit they will drive this to single digits, how do i know this, almost every expansion hole has led to a small rally with an aggressive cash out phase with the SP usually ending up lower than it was before the news, this has happened repeatedly for the last 2 and half year, the last hole one one of the best drills in Nevada GSV doesn't have a 17gpt hole, and yet they are now down 50% since that find, this tells me they have lost their market sentiment and the market no longer trusts them, if they start a 43 101 and get a resource estimate on Serena and Iceberg, with a move up in gold they could be in the high 30s or 40s or more. lets hope management starts to clue in to the strategy that has worked for both COVIS and GSV. GLTA