RE:RE:RE:RE:RE:QWN Statistics that will Shock youWell, the gentlemen in charge with the most shares are bankers/accountants, not miners, and even if you bring people in to assess your claim, I think it is all to try to prove up more gold so they can put a price tag on it. It's obvious to me that majors have been to look at it, and left it for various reasons which have been discussed here previously, but which the company calls priveledged information. Bankers want to make money, not mine. They try to buy assets and make money.
I think that is what all the drilling is about, and it is not producing the desired results anymore. The honeymoon journey is over, and we are coming back to earth to evaluations proper for an exploration company that has not proven up the ounces or grades...........yet. I think they will be forced to do that at some point, given the pressure put on them by their peers to show and tell, no games, proper wideths recorded, duds recorded along with the rest to show true returns for efforts without having to go to sedar to see what the duds are, how many with zero grades or very low grades.
It's almost like a con game for the small investor who believe what they are fed and don't question the company the way theiy should, and go after them, pressure them into doing a better job and creating shareholder value. We are past the startup ra ra stuff, and now it's time for the show me period, prove ut up, trial mine, ore processing, an MRE, etc. Whatever it takes to present to the world the true facts of what lies beneath. There is so much nonsense that has been created by small shareholders regarding facts, guesswork on ounces, etc. If you get 5 geos in a room, they will all come up with different figures because they are not complete for proper calucations.
Until then, majors are not going to come in and spend crazy money on a whim. There has to be lots of meat on the bone or they walk. Sellers also have to be realistic, and not think that a buyer is going to pay for all startup costs AND do an MRE or trial mine and prove up the ground on basically a blind purchase. Those days are over. Gold is high, and can drop anytime to reasistic numbers, and majors are aware of that factor because they were bit previously in past decades by chasing ounces and still today with losses and writeoffs on their books because of it. For most of the big boys, it's tier one or forget it, and I am sure NFG does not come close to a tier one in what is required to be called that.
There is so much work wtill to be done at NFG that majors will let them spend until exhaused drilling, or maybe they will come to their senses, prove up what they have, let the stock go where it may, eat crow if necessary, and basically start over from the ground up. Even the spacing between drillholes to complete a proper MRE is all wrong, a big expense to align that correctly with proper distancing between holes and depth.
So it's not what you think you have, it's all the unspoken omissions that really count.
So tell me now, what was the big meeting for last week on site, and what did it accomplish?
All senior controlling shareholders know the facts, so who were they trying to impress? The small shareholders like evrybody on thess posting boards? I wonder. Lots of effort and expense there from those who travelled and those who sponsored. Accomplishements please?
Cheers, EK