RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Extension Permit Granted!Both VIT and FGC are interesting to look at nuggetin.
I have to wonder why Mr. Henry didn't post some economics on the NR. Something like "this has a chance at cash flowing in 60 days" doesn't inspire a lot of confidence. The company is completely broke so investors need to know how he is going to go from broke to cash flowing in 60 days without capital. By being creative it is possible, leaning on suppliers of services to carry the costs of transportation and processing for long enough to start getting revenue.....presumably 60 days from start. These sort of nebulous NR's don't help the stock though, it makes it sound more like a P&D when key information is missing.
VIT is interesting. They have a lot of ounces and have a Feas Study already done. The grades are worse than IMG's Cote Lake disaster but no doubt the capital costs and mining costs are lower. The metrics have changed with the lower $CDN which still makes the project risky unless they lock in production, currency and fuel at current prices. Still, it's surprising that VIT took a jump in share price with the drilling program announcement while MXI did not. The lack of volume in MXI is somewhat surprising given the fact that this is the best development project that IMG has. Whether a buyout is imminent or not, the new drilling program is going to add a lot of value in a short period of time, yet the market doesn't seem interested......or perhaps they just don't know about it.