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RED EAGLE EXPLORATION LIMITED V.XR

"Red Eagle Exploration Ltd is engaged in the exploration, development and permitting of mineral properties. It owns the California Gold, Vetas Gold and Santa Ana Silver projects."


TSXV:XR - Post by User

Comment by taylor1988on Oct 25, 2011 9:59am
245 Views
Post# 19178655

RE: RE: NES vs. CBJ

RE: RE: NES vs. CBJGoldcorp is busy enough? Busy enough according to who? The major producers are having a hard enough time keeping up a constant production profiles. Apart from Kinross all the other majors will barely have any growth in production over the next 3 years. Rubicon (RMX) is in Goldcorp's Red Lake camp and G has yet to make a move yet but Agnico came in for 10% of the outstanding shares below $3.50. I'm not saying they bought them out but hostile moves for majors are not as rare as you say. I agree it's not likely for other majors to move in for NES at this point but I wouldn't agree at all that Goldcorp is too busy to spend money to save themselves in the long run. Would you rather buy NES for $400 million dollars with no 43-101 or pay $1 billion when they've proven 7 million ounces of gold? I hope the latter but I don't think Goldcorp has the option to just turn a blind eye to a deposit that could have half the total inventory of the Guerrero Gold Belt to date. They had great drill results and the stock went to $3.37 and thanks to the general market and the restlessness of shareholders in junior companies - every junior took an absolute beating. Other than ORT.A, NES has had one of the best recoveries since the early October lows. You can't judge what a share price goes to based on news in a market when 50% of people aren't willing to put in a bid for juniors. 1. A once active mine.. let's see a substantial resource and permits before we talk production yet. 2. Radically different countries? Agreed. I prefer Mexico to Colombia as I don't like the tax rates of other South American countries that will likely spill into Colombia at some point. 3. Different geology/morphology - agreed. 4. One wants to sell a resource the other wants to mine the resource. That means NES will likely be bought out before CBJ every pours an ounce of gold. Your statement - the other wants to mine a larger already established resource? If you'd like to argue the size differences in CBJ's deposit and NES' deposit we can but I guarantee you NES is twice the deposit CBJ is.
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