RE:goldanalyst - $ 5.00.............lolbraindeadoldguy wrote: Well, the minimum requirements to be listed on the NYSE is $ 4.00...........US, which is about $ 5.00 Canadian. They ain't gonna let that happen. However, I do feel the stock is a bit ahead of itself, being based strictly on the grades found by drilling. It is still an explorer without proven reserves or a resource..........yet. This system that the gold is found in is different, and not well understood yet, so it might be tougher to "find it all". Same thing at Fosterville in Australia.
So in my opinion there is still room, and time, for the price to back off, drill core results held back and then let er rip both before and after the NYSE listing date. Americans will be well aware of this stock long before that day comes, and you can bet that the company is planning things along these lines. Just my humble opinion.
So I am a bit wary right now seeing what happened to FSX. Over $ 5.00 on the initial run, the big boys promoted the heck out of it and cashed in, and it has drifted down under a buck now. The drill results sucked, and the promises sucked even more, and their promotional game is about all they have going for them right now.
Let's see what this month brings us here.
Cheers
The listing requirements which apply are the NYSE Amex level. The NYSE has more than one level of listing. As I stated before than NFG listing will not be at the same level as Bank of America, and I believe, for example its minimum price required is $2 or $ dollars depending on which standard level.
You need to understand you do not need proven resources or 2P level to make money or have a multi-billion dollar in-situ value. NFG has multiple zones with massive high grade at shallow depths. Fosterville does not have that and is down 1000 metres. Everyone knows NFG has a gold resource or in-situ value and it is only a question of how much. Again, a gold resource is not 2P reserves until you have at least a PFS level 43-101. However, that is not required at this point.
Whether the stock is ahead of itself is open debate. it has pulled off about 20% from its high? NFG is unlike any other junior gold explorer on the planet. That is a fact and there is absolutely zero comparision to FSX. NFG did not get to these levels on the gold sector run up during the summer of 2020 but did so during the general pullback in the sector the last year.
GLTA
BC