RE:RE:RE:RE:RE:Strong bids at the close
95Bearcat wrote: I understand that something 43-101 compliant is a long way off. I guess I would like to be able to see some sections with some sort of continuity you can estimate. I am a little late to the party here and it makes you nervous when the MC is $1.3 billion. Just looking at other exploration companies, you would need about 8 million ounces to cover that. However, there is a very small number of shares available and the momentum has kept the price increasing. Gold prices are managing to show some spunk. Hopefully new assays out soon and over the next few months we can stitch it all together.
Just to add to my earlier comments on the high grade zones. If NFG can prove up 3 of these high grade zones on the Queensway North which does seem possible (already Keats and Lotto Zones) the production can be 500,000 ounces of gold per year from each zone so that's 1.5 million ounces a year in production. So that sort of puts things in perspective. Profit margins are absolutely huge with these type of high grade systems because you don't have to process a whole lot of rock to get the gold and it's all near surface as well. That is why NFG has been given a premium by the market to others like GBR.