New Found Gold Corp V.NFG

Enough Politics.

[KerBer]

Dont usually post often, but its after hours so here is an interesting story concerning Eric Sprott. In 2010, ES was the biggest shareholder in a company called East Asia Minerals, he had an 18%share of the company. This is what he said about the company and their Miwah project,, “Gold deposits of consequence are very hard to find today, and it’s rare for an exploration company to return such compelling drill intercepts so early on in their exploration efforts.” There are few companies in the gold space that we know of that have a project like Miwah.”
East Asian Minerals spent $60 million proving up a 43-101 resource of  3.14 million ozs of gold.

The stock got as high as $87 a share before plunging to $0.015 cents a share. It went from a MC of $800 million down to $20 million MC. Why? Depends on who you talk to but it seems the company was not paying the right people the right money.  The government of the day said the project was too close to a forest preserve and did not meet regional and national requirements. ES sold his position and moved on.

Now here is the interesting thing. The company is now called Baru Gold Corp and trades under the symbol BARU. Insiders own 50% of the shares and have a smaller project ongoing called  the Sangihe mine. They expect to produce 1000ozs of gold a month  with an AISC of $900 oz. The new management has been in talks with the new federal government and regional officials to become compliant with all regulations for the Miwah mine. The gold is still there, they just need permission to mine it, not a sure thing. But and its a big but, if they ever manage to get Miwah mine up and running and with a steady cash flow from the Sangihe mine  ( approx. $1 million a month) to fund drilling and development, the SP will be more than .11 cents a share. Its a long shot but a stock worth keeping an eye on. Full disclosure, I have taken a position with the company, not a huge one but if things work out, it will prove to have been a very good investment.

[likeike]

So you will not apologize for name calling but instead post about another stock. Yep GGG got you pegged....off to ignore you go. IKE

[sandino]

LOL, who's acting like a "fortyteen" year old now? Are you going to toss and turn all night until you get an apology for your Bro friend? Prescribe yourself some Xanax and go to bed already.

[likeike]

So you are defending your Bro friend? Not sure what antics you play sandino Pharmacists cannot prescribe I sleep like a baby every night and require no induction to get there. Maybe you need a chill pill? IKE

[Global1966]

Seeing you know the story, what price did ES sell at?