RE:RE:Inflation numbers coming out on Tuesday
Retiredgeo wrote: There are lots of unhappy investors who want profits not promises. Unfortunately, this is a multi-year story which is going to play out slowly. It is hard to predict what will excite the market or when.
I watched the dribble of retail trades yesterday. For such an impressive story that was hard to take!
Yes it is difficult to watch NFG trade sometimes but you know a lot of the gold juniors aren't trading much lately. The big gold majors like Barrick, Newmont and Agnico Eagle have all moved up strongly. Our time will come with the gold juniors. That money will filter down to the juniors, it always does eventually. For now it appears a lot of the high risk money is still chasing the cryptos. I run into people all the time and all they want to talk about is cyptos and NFT's and things like that. I ask them if they understand it and 90% of the time they say they don't have a clue about it. I tell them I don't either so I'm not investing in anything I don't understand.
You can invest in one of those made up coins and the computer nerd that developed it can pull the rug out from it (computer lingo for kiss all of your money goodbye) at any time and you are left holding the bag. Money gone. Spin again. Lol Now bad things can happen with the gold juniors too so I won't sugar coat it but NFG is a well run junior with a world class high grade gold property that has several near surface gold deposits already confirmed in only 18 months of drilling. What do you think they will find as they drill along strike and drill deeper? I don't have to explain it to you retiredgeo because you get it. More of the same of course. The same geology exists right along the Appleton Fault so there will be many more discoveries. I have been out there and the same rocks go right through the island coast to coast. There is absolutely no doubt in my mind about there being more high grade gold discoveries. It will happen.
So the crowd hasn't shown up in the gold sector yet but they will. Quinton Hennigh feels we are still a few months away from gold breaking out in usd terms and hitting new highs and who knows he could be right. Personally I think things will heat up here in the next few weeks for both gold and NFG and most likely both will see new highs sometime in the near future but it will undoubtedly happen sometime in 2022. Anyone notice how similar the chart for gold and NFG look. Both are on the verge of breaking out very soon in my opinion.
The bottom line is it is very difficult to time these things but I think investors should take comfort in owning a solid gold junior like New Found Gold because the value has already been established with world class drill results and millions of ounces of extremely high grade gold sitting near surface in a mining friendly jurisdiction near existing infrastructure. It simply does not get any better. Has everybody read up on Kirkland Lake and the Fosterville story. It went from a one billion dollar valuation to more than $15 billion dollar valuation in 5 years. What do you think will happen with New Found Gold in 5 years time. Stay tuned. Still very early stages for the NFG story that will unfold over years. I can wait 5 years to make 10 to 15 times on my money. Sounds good to me. Mark me down for yes. I'm all in. Go NFG!!!