RE: fleztone (and others who are tossing in the tojandd, Nice post summarizing the positives that you see for New Guinea Gold Corp. This motivated me to look at their website. I have to say I still don't see enough to tempt me to take a position again. I say again because I had a fairly decent position around 9-10 years ago in NGG that I made a very good profit on.
NGG's flag ship Sinivit project has only a 300,000 oz resource:
The resource at Sinivit, as originally estimated, was relatively small at approximately 170,000ozs
gold at a grade of approximately 5g/t gold. An Indicated Resource of 713,000t at 5.7g/t gold for
132,0000zs gold, and an Indicated Resource of 340,000t at 3.2g/t gold for 35,000ozs gold. The
Exploration Target at Sinivit could be much larger than quoted below. At present the Exploration
Target is confined to high-grade sulphide mineralisation at depth below the known length of the
Sinivit – Kavursuki gold system (about 2kms).
Yes this project looks very prospective for increasing the resource size, but it will take a lot of money and time to develop.
Even if this were to eventually become a 10 bagger, most current shareholders would sell out way before then because a 2x or 3x in hand is better than a 10x dream that cannot be really counted on, because the underlying asset to back it up is not there.
I must disagree with your assertion that NGG is the cheapest gold junior out their. I think that honor must go to axmin (axm.v). Axmin's market cap is only 4x that of NGG, but the resource at its flag ship gold mine Passendro is more than 10x that at Sinivit:
https://www.axmininc.com/site/OperationsProjectsnbsp/ResourcesReserve.aspx
Axmin has a proven world class gold resource and the management team to build a mine NOW, unlike New Guinea Gold. Unlike the sorry losers behind NGG, the people behind Axmin have previous track records of building 2 multi-billion dollar companies before (Uramin and Addax and Oryx oil company). They are making good progress on raising the $260 million needed to build a world class 200,000 oz open pit gold mine by 2013, with the potential to expand production by 2-3x that since their property extends for 140 km along the entire Bambari gold belt:
https://www.axmininc.com/site/Portals/0/AXM_GHC_July2011Final.pdf
For 4x the market cap of New Guinea, you can buy Axmin that will be an intermediate gold producer with 2 years, and will eventually prove up 10 million oz resource. Now that is a 10 bagger you can bank on IMO.
https://www.siliconinvestor.com/subject.aspx?subjectid=58114