RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:So SnidelyThis is where we see things very differently. Although there is money to be made from running a gold mine, that also comes with huge risks and huge capital requirements that need to carried for upwards of 5-10 years until the mine actually goes into production. Yes, the junior does give up some upside, but they usually give up all the downside too.
So by selling off jewelry box by jewelry box, I think that maximizes return for the NFG shareholders versus having to make a deal to try to fund mining operations while also funding ongoing exploration operations. All of those capital costs are either going to dilute the bejesus out of the current shareholders, take all the cream off the top through royalty sales, or bog the company down with huge amounts of debt. I don't see any of those as favorable and it doesn't lead to full exploration of Queensway to systematically find all the jewelry boxes on the property.
I used to be in the camp of thinking that NFG should develop it themselves. A few conversations with people in the industry that I trust and respect really changed my way of looking at things.
Where are all agree is that NFG should maximize its earnings from Queensway. We just have very different views on how that is best accomplished.
likeike wrote: So if we sell Keats to some major and they mine it until we prove up our next jewelry box
and they buy that one and so on do we just keep finding jewelry boxes so they can make
all the real money?
Are you making us indentured slaves to to the major because we are not smart enough
to figuire out how to mine ourselves?
I highly doubt there is gold on every square inch of the property but sometimes I wonder.IKE