RE:RE:Possible Manic Behaviour in Newfoundland...?megacopper wrote: About a month ago you stated that NFLD didn't have much of anything. I politely corrected you on that when it was trading at 50 or 60 cents (can't remember the exact price) and it appears that NFG management, Mr. Sprott and most importantly the market, disagreed with you on that one. NFLD have excellent properties and I think they have a very good chance of success. Stay tuned because the fun is just getting started with that one.
mega, thanks for your post.
Friendly correction to the part of your post presented above.
I never stated that NFLD "....didn't have much of anything".
As I recall, what I did state was:
a) They have claims packages that are scattered (true), maybe not as scattered as SASY and SIC have at present, but still scattered.
b) They have no assay results (true), so who knows what they've got on their claims (vs. NFG which already had blow-out assay results at that time).
c) I didn't think NFG should acquire any other company (not LAB nor NFLD nor any other) because they have such a large, contiguous land postion that I consider the best in the whole territory given its size and the two faults running through it, and have more than enough to do on their own land alone, and I still maintain that position today. I also said I didn't think they would acquire NFLD.
You said you think NFG "wants it all" (or words to that effect) and will eventually take over LAB, NFLD, SIC, and maybe others. At the time of our exchange, NFG did have a stake in LAB and they had swapped land they were not focused on for shares in NFLD, which I thought was OK since NFG could always sell those shares and sink the proceeds back into Queensway.
When NFG acquired a bigger stake in NFLD, this time paying cash, I was surprised and told you you were right about NFG having more interest in NFLD than just swapping claims for NFLD shares, and that takeovers of LAB and NFLD look more likely (like you predicted) and told you so.
I also stated in previous posts that I never said NFG will never acquire another company, but rather I preferred they didn't and didn't think they would, but obviously I have no control over what the NFG Board / Management do, so NFG purchasing LAB and / or NFLD was certainly possible before our exchange as it is now.
Also, like I stated in my original post on this thread, there is no certainty that NFG WILL buy either LAB or NFLD - they may end up deciding to just sell those shares and use the proceeds to further develop Queensway (again, this would be my preference).
Having said all that, I, like most on this board, enjoy and appreciate your commentary and insights on the area. Thanks!