RE:RE:RE:RE:RE:Updated Estimates of Ounces DrilledSo Nozzpack is this guy stupi9d also?
"@Snidely Another problem that the market (particular retail investors) has with a resource estimate is that the focus is almost entirely on the total number of ounces, not on the grade. I can't tell you how many times I have spoken with retail investors who are playing around in mining stocks and they do their valuations by taking the resource and multiplying by the current spot price and thinking that is the value of the company. So why throw something out into the market that at best will be completely misunderstood and unappreciated, and at worst maliciously used against you?
Just think if they released an MRE that had 5mil ounces at 30 g/t grade. That would easily support a $2.5B valuation if you know what you are doing just on the resource alone and giving no value to future exploration. But I would bet dollars to dimes that if NFG put out a resource like that today, the stock would crater 25% in less than a month. There is simply no upside to putting out an initial resource, and nothing but downside - so why would they do it?”
GGG, Why are yo here?