RE:Press releaseYea, I want NFG to start mining NQW ASAP, too. GEnerate cash flow to fund future drilling and eventually development of their own processing plant, if the entire QW project warrants this.
But, buying the Kingsway project from LAB for 20 million CAD seems to make sense. The total market cap of LAB at the end of Friday was $34 mil CAD. I think LAB has some other property, but not sure of the details, but those aren't being bought..So, I'd say buying LAB with NFG shares is a bargain. It also ties in with NFG property adjacent to the north of LAB.
This purchase also may well be a sign that NFG has seen good signs from the Seismic on the portion of LAB that the seismic encompassed..
All these juniors are super cheap. So, it may be a very good buy. It seems unlikely that the gold ore abruptly ends at the Kingsway project, in spite of LAB not having very impressive drill results so far. LAB may not have been drilling Kingsway correctly?.......still, they had some success I believe.
I would like to see NFG stay independent, and rather than SELL OUT to BIG GOLD - BECOME BIG Gold!
ANd, getting into production ASAP, and gradually expanding production, buy up the smaller projects in Newfoundland, become the Consolidator of gold projects in Newfoundland.
To heck with BIG Gold. The eventual returns from QW by temaining independent will likely be many times those compared to selling out to BIG Gold. Big Gold will never pay for all the potential of QW.