RE:RE:RE:RE:RE:RE:RE:Gold Explorers Must Face the hard factsI belive they have the goods and the jurisdiction is top notch the infrastructure is second to none the drill results are very good they have been well financed to date time will tell .there is no denying they have gold the two questions is how much and what are the Economics of it .With so many near surface high grade zones it is hard to belive this part is not economically sound for 3 to 5 million easy ounces or more of extremely high grade gold ( which I belive will be much more ) Then as the geology suggests in this kind of deposit the gold comes from depths not from the sky and there should be multiples of what we find near surface at depth this is what I belive from all my years in this space and could I be wrong I could be but I truly don't belive Iam .and as far as Eric Sprott making this his single biggest life time investment ever and the fact that he has made billions in this space may have some validation for my choice to be a substantial share holder in Newfound Gold
With the initial MRE and PEA now underway and the extra drill rigs added most likely to do some definition drilling to add the MRE and PEA .The company is pretty confident they will produce a good report we will have to see how it plays out .
A geologist friend of mine told me that he believes the trenches and removal of the over burden was at the request of a major they just didn't do that on their own and now he believes the MRE and PEA is another request by a major is it I don't know but the company said they where not going to do one but here they are doing one .The trenches saved them millions of dollars on drilling it was ingenious of them or someone .
Hope this clears up where I stand on Newfound Gold .