RE:Crunch Timeventana wrote: QH says he expects Novo to start gold production early 2021 bcos they now have the IMC mill. It's crunch time. Bottom line is , how much faith one has in QH and Novo management. They have put much time and effort to soon turn Novo from an "academic" exercise into reality. Can Eric Sprott, Kirkland Lake Gold, Sumitomo Industries, Newmont, Mark Creasy, who all put in $Ms be wrong.
Follow competent people and their "smart" money. Then have some faith in them.
More than 10 years ago, I had the fortune to hold some Wildcat Silver shares. The CEO was Richard Warke. He and his team bought a piece of land in Colombia, did assays and found a bonanza. Wildcat Silver shareholders were given 1;1 free share of a newly form unlisted gold company, Ventana. Since I took an initial C$80K "paper loss" I gave up any hope of a recovery. Physical Ventana scrips were sent to me. I was a novice in mining investments and didn't realise the potential value of Ventana. I told myself, worst come to the worst, I can always use the paper scrips as "toilet paper". Ventana was listed in TSXV and in 1 1/2 years I saw Ventana share price rocketed from 40c to C$14+ and a final buyout at C$13+. Some years later Wildcat Silver changed its name to Arizona Silver and was bought out at C$6+. I profit about C$1M, not bad for "toilet paper". More importantly, I learnt much from the whole episode and kept learning from mistakes and successes. I am glad my profits far outweigh my losses.
Galway Resources CEO, Robert E. Hinchcliffe, spinoff the company into 2 parts, Galway Gold and Galway Metal and sold off Galway Resources. After about 5 years the latter is coming up very strong. These are "free" shares.
Integra Resources CEO George Salamis sold off Integra and then started another gold miner with the same name. The share price is powering up nicely.
I had the the good fortune to own these shares and have seen what "smart" and competent people can do. Follow them, be patient and have faith. I look at these investments as a journey where the end is exhilarating. I'll always remember my "Ventana" experience.
Question I ask myself now, still a novice mining investor, "can I keep faith with QH and his team, Eric Sprott, Kirkland Lake, Newmont, Mark Creasy, Sumitomo. In life, one cannot know everything but it helps a lot to know who to listen to.
And thats the answer to your last question . The way it always has been and always will be . Listen to the people that know ,and then follow their example . You dont need to know anything . Just need to know who does . Its as easy as that . And ofcourse learn from any mistakes and not to repeat them . Only IMHO ofcourse:-))
FW