RE:RE:NEW HIGHS IMHO Megacopper this is your best piece of unbridled optimism yet.
I too believe they can mine this sucker on the cheap for maximum value.
QH is very talented at aligning good talent for such a job and this is so doable.
NO government risk here and the only thing fishy here is the smell from the
coast line.
We are talking way ahead of ourselves however we still got a year or two of
drilling. If it is two full years you better get yourself a telescope. IKE
Yeah but I think Kinross ended up buying it really cheap because of something that went on with the government. That one was in Ecuador and the government pulled a fast one that drove the share price down for ARU. I can't remember the details but I think Eric Sprott got screwed on a financing with that one. Probably turned him from South America. I don't know for sure but I suspect behind the scenes Kinross and the government where in bed together and Kinross ended up buying the deposit that had well over 10 million ounces for around a billion dollars which was a sweetheart of a deal for Kinross. Something fishy went on with that one
The one that I liked was Arequipa in Peru. I followed that one from 80 cents right on up to $30 when Barrick bought out AQP for just over one billion dollars. It was a great deal for Barrick because that Deposit ended up well north of 10 million ounces as well. The big boys always come out on top. That one was producing like 800,000 ounces a year for a lot of years. Incredible!!!
So personally I would like to see NFG decide to put this one in production themselves instead of selling out to a major. The profit margins will be absolutely huge at Queensway. NFG shareholders would see much more value that way in my opinion based on what I have experienced over the years with buyouts. Yes Voiseys was amazing but that was a different beast than these gold discoveries. I'm not sure what the big shareholders at Palisades and Eric Sprott are thinking. Are they looking for a quick buyout or will they decide to raise cash and start producing. They could put Queensway in production fairly cheaply and the profit margins would be huge. The scale of the operation wouldn't need to be big or costly because there is so much gold in a small volume of rock. I think they will raise a few hundred million at higher prices and put that sucker into production sooner rather than later. Just my own personal thoughts. Go NFG!!