Parker began buying Pali shares in early May 2023 and now has acquired 2.6 m shares.
Pali only asset is that it owns 48 m NFG shares
At that point, Signal was arranging the sale of its Point Rousse assets to Maritime.
That sale was announced on June 16 2023 and NFG funding was a key part of that deal.
Since then, the crescendo of Parker's buying has steadily increased , most recently 560,000 ) massively stimulated by the mettalurgical data of Queenie , matching perfectly with the processing ability of the Point Rousse mill.
Its also indicated that both Firefly and Maritime will be relocating their Nuggett Pond mills to Point Rousse. As the Point Rousse mill was upgraded to have enormous capability to process, besides gold, base metal and copper concentrate , these processing consolidation moves makes good economic sense.
In doing so, at the indicated grades of HammerDown and Keats et al, the Pine cove mill is capable of processing 200,000 ounces per year, including 100,000 ounces for at least 4 years, by high grading HammerDown beginning in H2 of 2025.
By acquiring Maritime but keeping its TSX listing, NFG can also unlock the value of Queensway South by including that asset within the Maritime subsidiary.
Such a corporate move would have substantial impact on NFGs market cap, moving it from being an low valuation exclusive explorer to one as a high valuation mid tier producer of low cost gold, with exceptional resource and production growth.
The alternative is a long and dilutive wait for NFG to build its own mine while Queensland South lingers as an asset contributing nil to NFG asset value .
Already owning, by conversion , a portion of MAE it makes great sense for NFG to acquire the remainder.
Sprott already owns a position in MAE so he doubly wins .
Of course, MAE is equally attractive to Firefly because of the copper processing capability of the Pine Cove mill and its Point Rousse tailings ponds, storage and Deep Water Port....and also owns shares of MAE.
However, from a critical economic viewpoint , NFG has much more to gain by acquiring MAE as a bolt on than Firefly.
And, massive insider buying of Pali shares coincident with Maritime's acquisition of the Point Rousse assets in June 2023 tells me that this will happen and soon.
AIMHO
GLTA
Xxxxx
Pali insider buying began in May 2023
https://stockhouse.com/companies/insiders?symbol=v.pali