RE:RE:Giving away the farm?Trebor1025 wrote: TK
you always want to be ina position to raise cash from strength not when you have to. This way the company gets the money in its treasury and it derisks the project. The company now can literally double the drill program. Think of it like this, if ES is willing to put up 48 million at the market price basically then he thinks he will make multiples from here. He doesn't try to make 20% returns he looks for 10 baggers.
Treb
You are 100% correct. For sure they will double the drill program. It's a no brainer. Eric Sprott is always on the hunt for ten baggers. So if he's putting big money into NFG at current levels he must think it has huge upside from here. The Queensway property has already hit some of the best intersections of epizonal high grade gold on the planet and they have only drilled down to a 300 meter vertical depth at the Keats Zone and geologists are already comparing it to the size of Fosterville's Swan Zone. How many more zones will they find?
What do you think they will find as they go deeper? More of the same is my guess. These type systems usually get better at depth and go down to 1500 meters and beyond. This one is proving to be very robust and over a tremendous strike length as well. They will undoubtedly find more high grade gold zones similar to the Swan Zone at Fosterville as they drill deeper at Queensway and they have already found more zones in the horizontal direction along the Appleton Fault with the Golden Joint and the Lotto Zones.
And now there's talk of another zone with the Big Dave prospect a few kms north of Lotto. So now you have confirmed high grade zones over a 5 to 7 km stretch of the Appleton Fault. It's absolutely incredible. Most don't even think about the zones on the other side of the highway with the Knob Zone and several other high grade prospects. And then you have the Queensway South property with over 70 km of the favourable Appleton Fault and NFG already has several large gold anomalies discovered down there with a year round 30 man exploration camp up and running. The best is yet to come for NFG shareholders.