RE:Some of you don't understand the value of ES in NFG... Yep, Uncle Erich is invaluable, and an all around great guy.
Full of humble humor and wonderful insight and wisdom.
We as shareholders of NFG are very lucky. And his holdings in NFG ARE north of 30% when you include the shares he's given to his daughters and those shares he holds in separate entities he's set up. I think one is Sprott Mining.
Erich Sprott (ES) has stated in various occurances that Queensway (QW) will be being mined for decades to come. He's also compared Queensway to the Abitibi gold district, where almost 200 million ounces of gold have been mined in the past 100 years.
I'm not sure if he actually thinks QW contains 100 million ounces of gold or not, he's never been specific on that, and he surely knows that only time will tell how much gold QW will prove to contain, as just like at Fosterville, they keep mining high grade, but, they are always adding to the gold reserves they report....as they mine they find new reserves.
Bottom line is that most likely just with the gold ore NFG has found at shallow depths on the small fraction of their property at North QW, the current share price is easily justified. The Trans Canadian Highway and electric transmission lines cut right across NQW, too....imagine that compared to being in the Yukon wilderness!
If over the next 15 years, NFG stays independent and mines just 15 million ounces of gold from QW, the Net Present Value would be somewhat over $100 USD, by my calculations, assuming a gradual rise in the gold price to $3000 and sticking there.
Nobody knows how much gold QW cntains....just think if it's 40 million ounces!.......this is a Long long long term hold....especially if NFG stays independent.
We dunn need no steeenkeeen buyouts!
Don't Sell Out to BIG Gold.....BECOME BIG Gold !