RE:News,,Firefly Acquires Signals Tilt Cove Project I thought that Maritime might acquire this very attractive project but they already have too much on their plate.
So, Firefly is quickly acquiring the majority of strategic assets on the Baie Verte Peninsula.
The largest remaining and most strategic of all is Maritime .
The marriage of Firefly and Maritime is almost certain imo because of the compelling accretive economics.
Firefly is still raising cash.
Its market cap is now $705 million CAD......greater than that of NFG..and 16 times that of Maritime.
Fundamentally, there is no reason for that except that Firefly has been receiving aggressive promotion
while ours has yet to be kick started .
Or, that may be by design...20 cents looks awfully good compared to 6 cents, even tho 20 cents is well below our fair value.
So we are in a juicy sweet spot.
Maritime is extremely desirable to NFG and its early production plans which cannot proceed without our gold mills and the strategic advantages to Firefly have been described here many times.
Its not improbable that we merge/ acquired by Firefly, and NFG, having no other milling option, activates the Milling MOU.
Firefly has to expand its milling capacity as its current Nuggett Pond mills can deliver less than 10,000 tons of copper per year...consolidation at Point Rousse is obvious as already described.
Maritime is planning to expand as well....perhaps indicative of what is to come.
Lets also not forget that, with its mining and excavation assets ,Shorelines is now Maritime's reclamation partner .
By my estimate there is perhaps 60,000 + ounces of gold equivalent in the closed Nuggett Pond tailings pond, which must be reclaimed by Firefky as Ramblers acquirer .
So, things are coming together quite well for us, including a desirable TSX listing that can easily be upgraded to the Senior TSX....and perhaps being assigned developer of Pickle Crow..
Hold onto your shares and keep some dry powder,.