RE:RE:RE:RE:RE:RE:RE:Is NG already 'mining' CBGDF? From the latest CBGDF presentation given in Jan., 2018 it was stated that the “Environmental and Social Impact Study is to be filed in Q1, 2018" and the "Public consultation begins in March and is scheduled to last 4 months. However, from today’s news release (Feb., 14, 2018) notice now how the "Delivery of an Environmental and Social Impact Study (is currently expected in the 4th quarter of 2018). Further, "The submission of the mine permit applications is scheduled for the 4th quarter of 2018 and approval is expected to take between 12 and 18 months.
So now the ESIS is out possibly as late as Dec, 2018 not March. Further, can you have a public debate of the environmental and social impact of the mine without the ESIS out in public to debate? If not this means the public debate goes to April 2019 and then the permitting process at 18 months (assuming there is no legal challenges which will add another 6 to 12 months) means it could go to Aug., 2020 before a decision.
This I believe is good for CBGDF as they are carried through re., funding till 60 days after permitting is given so conceivably they would not need to take on any major debt for another 2.5 years coupled with a SP benefiting from a possible gold price increase along with other positive catalysts.
Problem is why would NG have pushed the ESIS back possibly these nine months? Their infill drill results were expected before the ESIS presentation, which was originally set for March 2018. Remember, CBGDF would have benefitted from both the infill results and improved economics identified in the ESIS.
Does this now mean we don’t get to hear about the increase in CBGDF's gold oz. re., P&P, M&I for at least 6 – 9 more months? Now there's a way to put a hold on a SP and upset frustrated CBGDF stockholders! But, eventually, we will hear about the infill results, the economics from the ESIS and other capex analyses as well as hopefully gold price increases which will increase the SP significantly.
But we can also expect NG to keep CBGDF's SP low over the next several months if they intend a lowball premium bid. Again, as I have suggested in the past there is nothing forcing Giustra financially to push for a sale; in fact he can hang a sale to others over NG's head.
Again, you can understand shareholder frustration with these events but this is where the money is to be made. You can sellout CBGDF at maybe US 0.70-80 including premium; for me this would be the lowest that CBGDF will go for even in a poorer performing gold market with no increase in gold reserves/resource. Or, you can wait for double to triple this IMHO in the next two three years; maybe a lot more (if gold hits $1500+?). Look at past explorer's SP who sat on a BFS with P&P and a mine readying to go (if you believe it will be permitted) as the gold price moved upward (e.g., 2009 – 11).
As always, it takes nerve and patience to make the bigger money but I believe it is there in FG. Those who want to take a profit might look for a run up in share price e.g. if NG makes a bid in the near term. As a biased long term holder, I would hope such an offer would be shot down (or represent the start of a bidding war), but it might make for a selling opportunity for those wanting to go that route. GLTA