Scotia main seller in NovemberJust trying to figure this out.
Were we correct that Signal had sold its shares by exit Sept 2023.
Of course there are former Maritime shareholders which are now Signal shareholders who are under obvious and terminal stress with the bankruptcy and massive dilution of the recent Combo deal which does nothing for Signal shareholders but further losses.
So, perhaps some are selling to cover what's left of their family wealth squandered by Bullock et al....
you might call it his MAKO 2.
Goldboro is now nothing more than a hanging shad..
I mean Firefky has been trying to sell its Red Lake Pickle Croe gold deposit which is much richer than Goldboro but no takers yet.
The problem is of course the huge mine develooment costs....easily $400 million for Goldboro and maybe more for Pickle Crow.
NFG is in the same boat.........6-7 years to build a mine costing about $600 million for first cash flows or test mining using Maritime's Pine cove mill.
Big Ridge , almost the equivalent of Goldboro, not a hope of early production except by the Pine Cove mill.
LAB apparently has an acquisition deal lined up but deferred to Q1 of 2025 due to the low price of
its 5.3 m NFG shares.
I think it's Big Ridge whose cash burn looks ominous .
All of these are basically one project investments .
Maritime has about one dozen projects which with a success rate of just 10% gets us another HD future.....and mills, tailings ponds , deep water port to convert such discoveries to production cash flows.
Yet we remain virtually unknown..
Which is why I keep nipping away.,...value and growth always emerges ...