RE:RE:RE:New Found Gold ($NFGC, $NFG.V) - Biggest New Gold Play in CaI think they are going to have to drill far more than 400k meters... My guess is that they do 100-150k meters/year for 5-10 years in order to prove out the resource. It will look more like an Aero candy bar when they are done.
If there is a breakoff of the property (which I think there will have to be - it is too big for a single major and would put too many eggs in one basket if one major tried to develop it all), it wil be splitting the north from south at the T-C Highway.
My 5-10 year market cap target is $10-15B when all is said and done. How that relates to share price will depend on effectively they can raise money to drill the 1+ million meters... but they want to keep this in exploration mode as long as they can in order to continue to take advantage of raising money through flow-through shares. So SP will be dictated by how much dilution it will take to do the exploration.
toller1 wrote: Acquisition is not a concern for me. They will drill this thing out like Swiss cheese 400,000 meters and more, prove up anywhere from 10 to has high as 20 million ounces of very high grade gold easy to mine and then sell it to possibly 2 senior producers. They will have to do more financing but shouldn't dilute the share structure to badly. This could sell from as low as 50 bucks a share to as high as 150 bucks a share. Right now everyone is just speculating on the amount of gold in this property. It is the most exciting play I have been involved in since Arequipa. A 10,000 share investment will set one up very nicely. So for me acquisition is the all that interests me and that is exactly what they will do when they prove up the size of this, and it will be big!