Here's a crazy dream I dreamed that Barrick invested actual cash in Nulegacy. Pretty sure that would be a first, as they swapped land for their existing shares. Nothing since.
Note, NUG attained 70/30% in the Barrick JV. At the end of 2015, Barrick could have elected to invest $15 million exploration over 5 years. Then they'd flip it to 70% Barrick, 30% Nug. Did someone miss a bargain? Cash was tight. I'd have to check. Could Barrick have waited and spent all $15 million in 2020. If so, where would we be today? Easy to imagine worse off.
A lot has transpired, a lot of exploring. Chances are Barrick would have to spend well over $15 million to go from ~10% to 70% today. If Chas. Weakly is right about his assessment of Red Hill, we are likely near bottom.
The "Story" on NUG's website suggests NUG raised $1 million to form it's share of the jv with Barrick. Then they spent $5 million more over 5 years.
Ready for news.