RE:RE:RE:RE:RE:RE:Open Pit Mining ProfileThat is not quite true .
The shorts are here in Canada by major US Houses, as the FED does not want gold to detract from the sale of USTs which are struggling enough as it is.
Every sector out there is way overvalued but Gold stocks .
I would not touch them with a 19 ft pole.
Having said that , my gold producers with low cash costs and no debt are doing fine ....a triple on one of my best in the last 6-7 months .
As for NFG, the ATM and Charity FTs have alerted potential investors that little forward progress can be made as both of these allow the shortd a continous source of cheap shares to cover.
The ATM program ends in August but NFG can stop it any time should they choose.
Secondly, the lack of a clear strategic plan by NFG in terms of providing timely documentation on production and MRE sign posts leaves potential investors clueless as to what the emerging quantitative value is and under what time frame .
So, suspicions arise that maybe they have less than what the great assays impute.
If CK remains true to his word that a PEA will be published before the end of June 2024, those doubts will be assuaged and early production providing cash flows twill replace continous cheap equity dilution.
AIMHO
GLTA