RE:missinglikeike wrote:
@Truth Waiting for some SEDI filings to drop. If Eric was willing to pay $125M for 15M shares at nearly double the price a few months ago, you'd think he be wanting to add a least a few million more at today's prices
Thing this dude is missing is if he were to buy a mill shares in the market how much do you
think that would move the stock?
SEC would get involved to ask why the stock is materially moving and then they would have to
state on why it is moving. More headaches for him and the company to have to report to SEC
and more scrutiny on what they do so why bother. IKE
@Truth Waiting for some SEDI filings to drop. If Eric was willing to pay $125M for 15M shares at nearly double the price a few months ago, you'd think he be wanting to add a least a few million more at today's prices
I think Eric Sprott made his investment in New Found Gold knowing he would most likely be holding the shares for a very long time similar to the situation he encountered at Fosterville. Listen to what Eric Sprott says about his Kirkland Lake shares and how long it took for investors to figure out what he knew and how long it took the stock to move from $7 to $70. He talks about it at the 6:30 mark in the video below.
So even if NFG does have something as good as Fosterville it will most likely take years before the stock moves substantially higher Unless of course they find more jewelry boxes or the price of gold moves a lot higher. Both of which are very likely in my opinion.
https://m.youtube.com/watch?v=CiS6p4PLhak&pp=QAFIAQ%3D%3D