RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:New Found Gold ($NFGC, $NFG.V) - Biggest New Gold Play in CaIf it was a bad market that made it difficult to raise money at a good valuation, it is better to close things down for a period of time to let the conditions of the broader market improve.
I am of the view that we won't be seeing an RME for at least 5 years. I have heard people say that we will get one within a 12-24 months... just not seeing that. Once you release that RME, you hit the downslide of the Lassonde Curve and SP tanks.
Better to stay in exploration mode as long as possible and uncover as many deposit zones as you can and then release a single big RME with a high measured resource instead of riding on speculative I&I. I know I am pretty unpopular on other boards in that opinion, but I am fairly confident that is how it will play out.
Global1966 wrote: Why would they slow down. Their exploration success is finding many multiples of the exploration spend. The initial resource estimate will be worth the wait