RE:Putative Value of GRAU 1.5 million ouncesThe argument has been made that wth its uodated copper reserves..averaging 2% copper equivalent..no different than that of Rambler...2,1% copper equivalent....Firefky has the sane problem as Ramber.
That Problem is that a largely coppier mine of modest grade is highly vulnerable to the high variance price cyclicity of copper price.
Which is why we see the Ming Mine producing for a decade or do, then shutting down and resuming perhaps a decade later under receivership .
IN short, Firefky can only succeed at Ming by having a robust reliable alternative revenue source.
As all base metals are cyclical, it's either new open pit copper discoveries replicating the Ming East
open pit or an acyclical metal like gold.
Mariitime offers both.....by surficial Sampling, the highest VMS since the Buchans discovery at Black
Ridge ...and HD + Orion +Stoger+ a dozen undrilled new. Prospects to say nothing about the accretive
value of acquiring BRAU.
Ad naseum, the merger of FLY and MAE and their extrapolative synergistic bulk ..will create a multi billion mining Hub at Baie Verte that will dominate NL mining for decades.
NFG cannot emulate this as they have no mills to monetize their gold resources......have you seen enough already.
So, TD had been titrating the share price here for quite, harassing the share price while building up its position,
Today..just my opinion, it said f##k it and waded in with both guns blazing.
We are very blessed.
GKTA