A look into Toqueville's thinking as they bought 9mm more.NuLegacy announced the PP on Oct. 4th & closed about half on Oct 17th. Here are comments from Doug Groh, Toqueville's Portfolio Manager, to Streetwise Reports published Oct. 18, the day after his purchase closed on 9 million more shares, for a total of 28.5 million, or 9.9%. Remember, he saw upside at C$0.45:
"Another company that we're intrigued with isNuLegacy Gold Corporation (NUG:TSX.V; NULGF:OTCPK). It has a property in Nevada that it's drilling on. The Iceberg was a discovery from several years ago but in the last month it has made another discovery, the Avocado deposit, which looks even better than the Iceberg.
That it is in Nevada is important to us because we've become more concerned about geopolitical risk. Its project is along a major trend just south of Barrick Gold Corp.'s (ABX:TSX; ABX:NYSE) operations at Goldrush, with geologic characteristics of a Carlin-style gold system. So we think NuLegacy is in the right place to make a major discovery. From the indications to date, it looks like it is onto something very significant. I think there's quite a bit of upside in its story with the grades and mineralized widths it has encountered."
https://www.streetwisereports.com/pub/na/17149