RE:RE:RE:Theory Re. Eric Sprott PurchaseToday's announcement also minimizes (probably eliminates) any unique senior miner or institutional investor from obtaining a sizeable percentage of NFG shares without being forced to purchase them from the 30% remaining free float that is primarily held by retail shareholders.
Today locks in and protects the decision making process (which I would summarize as Colin and Eric will make all decisions) regarding future direction, ie: whether to double the drilling again, when to do a resource estimate, do they sell at auction or build a mine as well as a many more options.
The maximum ownership that anyone could (theoretically) purchase is that 30% free float and the price would have to be a lot higher before retail investors are going to consider selling shares.
This has the potential to be one hell of a ride!