RE:Great Bear vs New Found Gold
Global1966 wrote: I'd like to throw out a question for the geo's in the community.
Right at this point in time do you think NFG has the same ounces of gold that the Great Bear takeover offer assumes - around 8.5 million ounces?
I know the cost of NFG mining will be a lot cheaper but am interested in comments around the quantity.
It took GBR 4 years to get to offer stage. My mind is reeling at where NFG will be after completing another 290,000 metres of drilling.
I think some of you guys are missing the point with regards to this gold system on the Queensway property owned by New Found Gold. It's not necessarily about the number of ounces but more about the quality of ounces that is important. The number of ounces will come with due time. I don't think the Fosterville mine ever had much more than 3 million ounces of gold reserves at any time but yet produced about half a million ounces of gold a year that help send Kirkland Lake to more than a 15 billion market cap.
So it's more about the quality of ounces. Listen to the video below again and pay close attention to what Eric Sprott is saying about the grade of gold and how the profits increase dramatically as the grade of gold increases. It's not rocket science guys. As the Rock Doctor knows and especially guys like Eric Sprott and Dr. Quinton Hennigh "You can't beat grade." NFG has a very high quality asset that will cause it's share price to soar. If you don't believe me why do you think Eric Sprott keeps buying NFG (36 million plus shares and counting) It's very simple. Once mining starts the operator (whoever it might be) will get a whole lot of ounces out of a relatively small amount of rock. And that is the name of the game here folks. Listen to Eric Sprott talk about Kirkland Lake and how the share price took a long time to go from $15 to $70 a share. He saw it early on but the average investor wasn't so clever. Buy NFG and prosper. Your welcome and Enjoy the ride!!
https://m.youtube.com/watch?v=6e5KM7UHhoE