RE:Signal Gold ShareholdersI bought SGNL, it is now the 4th time. And I lost money the first 3 times. I'm stubborn and want to make my losses back on it. So I last bought at .07 the other day.
I never lost much on it. First bought in low .30's then sold around .30. etc etc.
I bought it at .07, with the hope that after the takeover, and they have some cash, it will bounce up to the equivalent of about .10. At which point I will be even.
Neither project to me for NEXG and SGNL look like it will go ahead for a long time if ever. Even if they get the permits they still require.
The mentioned $400 million to start up Goldboro....even with the permits how will they raise that money? They will need to have a hundred million in cash or so to have anyone even consider loaning them the rest. So how would they raise that? By doubling or tripling the share count of the new NEXG? What price would that have to be done at?
Look at marathon, and how their mine construction prices ballooned. A much better property than Goldboro. With the expectation of twice the annual production once everything is online. Look at what they were bought for with better reserves and hundreds of millions already sunk into building the infrastructure.
NEXG's Goliath project at this time doesn't look much better. It costs way too much to build.. If there is a real chance for really increasing the reserves that are mineable at a profit... that would help.
No one is building a half billion dollar mine now with a million ounces of reserves. It's too expensive, and years before it starts producing a bar of gold. And the price of gold is volatile.
Goldboro has no agreement with the first nations I guess we call it now. That can hinder progress years.
The new NEXG will be run by the same CEO as SGNL. So if they do have $20 million after the takeover.. that's an if. Divide that by 2 properties. Well $10 million never lasted long for SGNL, and didn't make a whole lot of progress.
I bought the SGNL hoping to win back my losses. But I have little faith in either of the new NEXG projects ever really moving forward.
MAE I don't think is perfect sometimes in disclosure, or promotion, etc. But it is where I park a lof of the little play money I have in. ( What I started with 2 years ago... I have that much in MAE now), plus a few other small companies.
About 18 months ago I made a post on SGNL. I said I will trade you my MAE shares for SGNL shares. I said it won't be long until they are equal value. Got made fun of. Well SGNL was about
0.32 then, and MAE was at 0.04. Soon, my premonition may be right.