RE:RE:RE:RE:End Game...?eatmorefiber2 wrote: Oh really?
How's your call on that GBR is going to take a "long long time to pay off for investors (K)"? Up 250% since your call.
https://stockhouse.com/companies/bullboard?symbol=v.nfg&postid=34745260
And in the very same post, you claim NFG has one of the best, if not the best discoveries of all time?
LOLOLOL
How's NFG working out for everyone since your call from 2022? Well, it's only down 50% since June 2022.
Why don't you go back to the NFG board and tell them how you're doing on that call.
GBR was purchased by Kinross back in December 2021 with the deal closing in February 2022. You may recall Kinross had significant assets in Russia when there were sanctions being put on products produced in Russia, so Kinross wanted to sell those assets and was looking for a buyer, eventually selling them in June 2022. They wanted to replace them so they purchased GBR at a price that other gold miners thought was ridiculously high. Barrick's CEO Mark Bristow was particularly critical of the purchase:
(Bristow) was critical of Kinross Gold’s acquisition of Great Bear Resources, saying the $1.8-billion price ascribes a value that would befit a mine with eight million ounces of gold in reserves. But Great Bear has not proven it has any reserves, let alone obtained the permits or agreements with First Nations that would allow it to build a mine. Great Bear has drilled holes and hit high concentrations of gold, but it remains many steps away from calculating the likely amount of gold. “It’s a piece of ground, a prospective piece of exploration ground with some bore holes in it,” Bristow said. “And the market put an eight-million-ounce resource on it. That would make it one of the biggest gold mines ever in Canada. But it’ll take you eight years to actually start building it.”
GBR was doing a great job re. drilling, but sometimes investors get lucky in the small cap mining game, and GBR was a case where a very special set of circumstances led to the big payoff at the end. But of course you knew all of the above before you posted, right...?
BTW, the 250% gain you claim GBR rose since my call is false - in fact, nowhere close. Already caught you in one lie and you've only been posting here for two days. Not a good sign.
Also, you were a very active poster re. your previous stock picks, so I suspect you've just recently bought in to SGD, perhaps this past week at around say, $6.00...? Conversely, people like mega and retired have been around for a year or more.
Funny how you belittle NFG. You were a big fan of Kirkland Lake Gold back in the day. NFG's gold system is very similar to that of Fosterville's Swan zone, only Swan didn't hit it big until it became an underground mine. Newmarket Gold, which owned the claims at Fosterville, sold them to Kirkland Lake just as they were starting the underground phase of the mine.
Conversely, NFG has hit tremendous cores at its huge contiguous Queensway land package, some starting near surface, with a major highway running straight through it, in an area with tailor-made infrastructure in which to build a mining operation and hire skilled labour that can live a short distance away in Gander and easily commute to and from work daily along that highway (unlike some other exploration-stage companies I could name). Further, not that he hits a home run every time, but Eric Sprott has invested a total of $260M in NFG shares - the largest investment in a single stock he has made in his career. Finally, not that it matters to other NFG investors, but I made a single sizeable purchase of NFG shares at $4.50 back in March 2021 and sold half at just over $9.00 in May as I always sell 1/2 my shares when the share price of a microcap mining company I've invested in doubles in price so I get all my initial investment back, thus the other 1/2 of my shares is pure profit.