RE:RE:PATIENCE: THIS IS PURE GOLDYes Bob great point:
I flipped NMI during 2016 often, but took a huge chunk of KL at $ 6.50 CAD right in mid-December 2016 (this is going back exactly two years now) and flipped at $ 7.85 CAD in late January 2017 netting close to $ 30 K, as I was greedy and wanted the cash - never did I know what would happen starting in March 2017 with dividend inception, then mid summer with Fosterville resource update + Swan announcement, and it has been good news ever since.
I sure wish I kept my original share position!!
I have been buying along the way up since June 2017.
I was out of KL completely from late January 2017 to June 2017. The crazy thing though is Aurico (pre-Alamos era) used to own Fosterville and Stawell outright, and sold them to Crocodile Gold back in 2012.
Aurico received the two mines when it took over Northgate Minerals (this was during the heydays when gold was $ 1500 +).
Aurico received the Young Davidson "flagship mine" in Ontario + Fosterville and Stawell when purchasing Northgate Minerals, but they decided to dispose of these deemed NON-CORE assets to focus on development of the Young Davidson mine. Fosterville sure has turned out to be if not the best mine on the planet.
So they flipped Fosterville and Stawell to Crocodile for total consideration of $ 105 M for both (now worth north of $ 2.5 B)!!!! I have brought this story up before on this board. It is insane when going back over six years to see the transactional change.
Then Crocodile Gold was doing well quarter by quarter changing the game....then comes along NMI shell company led by Doug Forester (brilliant person), and absorb the properties via the shell co. NMI flush with close to $ 300 M of cash.
KL's cash balance increased significantly in January 2017 after the merger with NMI was complete since it was the latter - NMI - with tens of millions of cash on the books.
The rest is history and just gets better and better as evidenced the past few weeks.
JIN bob333666 wrote: Jin, I got my shares through the Newmarket merger, and I have added more since. However, I always wonder what NMI would be worth today if they hadn't merged with KL. I am very happy with the outcome of course, but sometimes I wonder. I would have loved NMI to of changed their name to Fosterville Gold if they had stayed independant. Eric Sprott sometimes in the past has said too, if he did the right thing in the merger. However, that is all history, water under the bridge, and this is the very best gold stock anywhere as you say. But that Fosterville is sonething else. Can't wait to hear what Eric Sprott has to say about KL's prs on Friday on his show. Just my opinion.