RE:RE:RE:RE:RE:Eric racks 'em up again Closing the deal at the original price (regardless of change in classification) is definately bad news for anyone crazy enough to short the shares of a company that could well be sitting on a gold motherload.
I sense that this is bad news for you based on the trail of posts that you made this morning?
It amazes me that anyone is crazy enough to short the shares of a company that has had 9-10 drills running continuously for ~6 mths with only minimal capability to release assay results due to the industry wide backlog. It seems logical that mgmt would only keep this many drills running and continue to stack drill core after drill core if they are able to see the results physically and know that these drills are being properly positioned. To bet agains't that is much higher-risk than to add when such opportunities arise.
A flood of assay results should flow as soon they get this Canada-wide blockade fixed. Tomorrow - next week - week after - it's just a function of time and we know it's a top priority for our mgmt team because they keep telling us so!
ES will have somewhere between $250 - 400M personally invested in NFG when this latest financing closes. After adding in all his investments in the surrounding properties it could well be close to 1/2 $Billion riding on Newfoundland exploration. At this level, I further assume that he has experts on his payroll advising him -- no one (even a Billionaire) invests this kind of $$$$ without a solid understanding of the risk/reward ratio.
When all is said and done (years from now) perhaps Nfld citizens will erect a statue in ES's honour for single handedly financing this attempt to become the richest province in Canada.
It should also be noted that this entire episode makes it crystal clear that non-public information is NOT being shared with ES (even though he is the second largest shareholder in NFG). Otherwise he would have simply waited two weeks before giving mgmt this yet another $50M to use for drilling.
It was a clever solution that has a zero short-term impact on NFG and will only have minor implications if we decide to mine these deposits ourselves in the decades to come.