RE:RE:RE:Today's Trading... i don’t think you can help them. If you read up on Au gold in groundwater studies, work by Australian government and some studies in Nevada suggests you have a strong probablity of finding a deposit near and around Au in groundwater anomalies. But they also suggest that high Au in goundwater anomalies doesn’t always correlate with the highest gold grades in a deposit. Why? Because water travels over time? I read one of the studies that an Australian deposit was found where Au in groundwater values were 7 ppb.
The 100 or so geoprobe/Scorpion rig holes are not the same as Drill Core holes. Please do not compare them and state NGE has over 100 holes in the bag and nothing to show for it.
NGE - 5 drill core holes and starting to vector according to last press release (??? Holes to make a discovery or throw in the towel)
Pipeline - 70 drill core holes to discovery
Twin Creeks - 80 core holes to discovery
Who am I going to trust?
Realty? DEFINITELY NOT!
NGE management who has discovered 37 million Nevada AU ounces to their credit. MOST DEFINITELY!!
Phase I is still going. Close to wrapping up. Looking forward to hole 4 assays and hopefully an update on hole 5 and possibly hole 6 if they are or plan to work on it before Christmas break. The link that was just posted here says they will spend about US$1,000,000 on the first 6 holes. So that means they should have a bit of cash from the 12.5 cent financing left to keep going for a bit. But seems evident to me they are going to need to raise some more soon. If they plan 8 or 9 holes in phase II, that means they need to raise up to US$1,300,000 or there abouts. Assuming same drill penetration rate, phase II program should be wrapped up by end of March-ish? And hopefully by the time phase II is done, they are closing in on greater than 500ppb Au in drill core and highly anomalous pathfinders which according to the Studies would suggest they are proximal to a deposit source? And don’t get me wrong, a discovery hole at anytime would be well received by me.
Keep going NGE! Systematically find the source of the groundwater Au and be vindicated!
For those who are locking in profits. Good stuff. You can’t lose by profiting. Best of luck to you on your next investment when you redeploy the capital.
I am here for the long haul. I understand the risk if they give up and throw in the towel. My invesmtent in NGE will be worth a very small fraction of its current value. But if they make a discovery, it is difficult to determine the reward potential because it will validate the methodology and the market will have to decide how to value the SGV discovery as well as decide what NGE’s other properties/anomalies are worth.
Glad to be in. Excited about hole 4 results and what hole 5 will deliver us for results when they are finished.
And remember, don’t listen to me. I am a biased NGE long position share holder. I am a novice investor. And too be clear, I am not a geologist.
Good luck to all no matter what your position is in NGE. I am hopefully we get some news or an official update soon (maybe even this week).
ShellsRFun69