RE:RE:RE:RE:OT - Meggacopper, question for you, or anyone in the knowBlueChipper2020 wrote: braindeadoldguy wrote: Thankyou. So I think my thinking is correct when it comes to Sprott investments. He is spreading the money around to see what sticks, and later he will sell off the duds quietly. He just doesn't want to miss anything, and nobody knows for sure who is going to hit where.
Alright. I think maybe I'll just stick with what I have for now and wait it out. Hey, 2.5 more weeks and we hit September. Hurray!
Have a wonderful day.
ES investments to pay real attention to are those where he presses hit bets (his words) and/or ends up with greater than 20% of a company. He obviously does not do this for the majority of his investments and those are where he is "spreading the money around". The majority of those will be duds. However when ES presses hits bets (i.e. buys in multiple PP's and the open market) or when he ends up with greater than 20% control, the probability of success is much much higher. NFG is one such example where he invests at $1.20 when NFG is a private company and has continuously bought in the open market up to over $12 bucks a share. He owns greater than 20% in Sokomon Minerals BTW.
BC
Yes Eric Sprott is 100% focused on NL these days and perhaps the Golden Triangle region of BC. He obviously loves NFG and has pressed the bet several times. He knows this is a very valuable high grade gold discovery. To find 3 exceptional high grade gold zones in only one year of drilling is outstanding so the chance for finding more zones is very high. Nobody knows what that final number will be but they will find a lot more.
Eric Sprott also likes SIC, ROX, LAB and NFLD for good reason since these guys have the best land positions along the favourable faults that allowed the gold bearing fluids to come to surface. It sounded like in his talk on the video that he would be open to a takeover offer from a major for NFG. I think I heard Collin Kettell say somewhere that Palisades would consider an offer. And they did bring that Hurst guy onboard that was involved with the Newmarket / Kirkland Lake deal with Fosterville so perhaps the NFG management team is leaning towards a possible takeover offer from someone.
Personally I think it's a mistake to sell out early because there is a whole lot more value to be realized if NFG developed it themselves but that does take considerable capital. They should poke some holes into those big gold targets down near Eastern Pond on the Queensway South property but perhaps they aren't drill ready yet. The ultimate value of Queensway will be driven by drill results so the upcoming assay results between now and Christmas will tell us the story. I'm expecting more of the same great drill results and NFG to hit new highs in the not too distant future.