Why is NFG not heading towards a mine ???Here is another huge deposit with proven ore and easy to start mining. Get a mining company partner and go for it. There are many Newfoundlanders working all over the world in the industry.
Why not start a mine and get some money moving to further develope the rest of the property.
Stop talking about the future, it is coming, and start minng. That is where the real value lies. All of the money spent now is much more expensive in the future. A mill produces money, drilling produces what at this point.
Drilling it all out will result in what ? A huge offer of 1.8 B(GBR) , Maybe 2.8 B CAD ? There is not too many undeveloped deposits ever bought for higher numbers. That would be a small fraction of the actual value.
Don't spend another 200 million drilling that could start minng?
A small mill of 1500-2000tpd (apparently there is a couple at PGM and HRT available LOL) producing $500,000,000 USD per year(125,000,000 USDprofit) would pay for a lot of drilling.
That wouldn't even require a shaft. A ramp at Keats or a small open pit at Lotto would do. Continued exploration /development of the zone(s) and a renewable energy source developed will add additional value in a biig way. More than continued drilling.
That would worth some money. Kirkland's mine was producing when the big money was realized.
Ask AEM how they did it in Nunavut. They didn't drill every last centimeter. they started minng. Then a pushback, and found another honeyhole, now they are mining another deposit.
All of the historical large, longlife mines that built this industry in Canada started with a 200 tpd mill.
Some of them mined for 50 years, some of them are still at it.
Check out Red Lake, Abitti , Helmo, and Con/Giant all of those camps never had more than a few years of reserves. They just kept mining and drilling.
If this district/zone would get producing, and continuing to ramp up, an operation producing 350,000 -500,000 oz/yr(1,000,000,000USD) and no end in sight. That is something very valuable.
Five years from now they could be drilling or producing, which would be more valuable ?
I apologize for the rant, I suspect the accountants/lawyers have more say than the miners.
Frozen Gold Waiting