RE:RE:trigger ou are 100% correct. Kirkland Lake at the time had proved up 3.2 million ounces at Fosterville based mostly on the high grade Swan and Eagle Zones located within the Lower Phoenix decline in 2015 and 2016. It drove Kirkland Lake's stock from $15 to $70 a share in a few short years giving the company a $18 billion dollar market cap at the peak. They continue to mine at Fosterville (now Agnico Eagle) and they keep finding more high grade gold as they go deeper.
We estimate the Keats Zone to have a similar resource over 3 million ounces near surface which could potentially give New Found Gold a huge market cap in the future once mining begins similar to what happened to Kirkland Lake at Fosterville. Just for comparison purposes if NFG ended up with a $18 billion market cap similar to KL did it would be trading at $90 a share and that includes dilution of 25 million shares for the cost of the mine.
Of course it will take years for the development of a mine to achieve this goal but it is within reach over a 5 year period. The cost of the mine would be relatively low in the $250 to $300 million dollar range because the total TPD (tons per day) going through the mill doesn't need to be high due to the very high grade nature of the gold. You can't beat grade guys and that is why Eric Sprott is so heavily invested in NFG. With high grade gold deposits like Fosterville and Queensway you get enormous profits. Stick around and watch what happens. We are going mining and NFG will be going much higher sooner than most think.
Mega my dear friend and brother from another mother did you not say 3.5 mill just
about a year ago? Have you and the rock doctor firguired out from our big new
release (forgive me one of our 3) that the one that definitively defined an area,
to be in length, breadth, and height how much gold is added on in that one little
area.
It we had 3.5 solid last year and we have continually found more gold in every
hole how then do we have less at 3.0 mill oz in the last year?
You guys better do another back of the napkin analysis and lay off the sauce
until you got some serious cyphering done LOL.
Love you like a brother Mega so I feel free to give you a hard time IKE