No discovery … but no rollback either? I guess that's it for NUG's hope for a discovery at Red Hill.
What will be the plan for Red Hill now? After many millions of dollars have been spent on the property over many years? While they have come up empty in terms of a discovery, they do have plenty of geology to sift through to try to figure it out. Some one will take a chance at it eventually. And if we do finally get a strong gold market, my guess is sooner than later. In the meantime, choice is to sell and move on or wait it out.
I notice in the release that the Annual Meeting was held on December 29, 2023. And there is no rollback in the works which is a positive.
My belief is that Albert will JV the project out with a junior or a mid-tier / major to try to crack the code at Red Hill. It's time to dilute via JV and let other people's money take the risk. Just my opinion only. Do your own due diligence first and don't listen to me. I am a novice investor!