New Found Gold Corp V.NFG

The next take over in Canada

[goldenrivit]

GBR take over by Kinross was a desperate attempt by them to get out of Russia as they could see Putin building up an invasion force on the Ukrane boarder in Nov 21.They knew the fall out of the world reaction to sanction Russia including its exports of gold would put the company in a tough position and it needed to exit Russia like other international companies such as Mc Donalds and many other companies as the optics of operating in Russia would be a grag on a Noth American based company if it were to keep operations in Russia.So with out any resource calculation they rushed to the bidding room and out bid 4 other companies paying a whopping $1.8 billion for a grass roots discovery with at least a 10 yr permitting/construction road ahead.In doing so they missed a much better situation.No i'am not talking about NFG.SBB has a mine of 12+ million oz of high grade 6gt fully permitted and funded currently in advanced construction for 350,000 oz production in Q1/25.The gold JR market is in the tank with along with NFG.But NFG is trading at twice the market cap of SBB.SBB is trading at a mere depressed price of $500 million for its 12 million oz fully permitted funded mine with zero further need to issue more shares.Now the new kid on the block post GBR is NFG.But make no mistake about it the majors can see that the "real" gold mine of SBB has fallen in market value and in my view will motivate one of the other 4 bidders who were in the GBR bidding room to take over SBB.My guess is Barrick who told its shareholders it was looking at a project in Canada with a world class 43-101 advaned but not yet in production and lots of blue sky.Barrick also called GBR "garbage" with no resource.So my guess SBB gets the next take over bid before NFG.SBB IS A SCREAMING BUY!!!!

[braindeadoldguy]

This post has been removed in accordance with Community Policy

[likeike]

Mostly agree goldenriviit. I was in Kinross years ago and was glad I was not in when they bought out Redback Mining. I think after Barrick bought out Arequipa so early in the game others thought they could do the same but all have fallen far short of Barricks track regard of early in. Some of it is luck and yet were the ones to expose Bre-X. They regardless  always poo poo projects they

[goldenrivit]

I was in Arequipia at $2 and yes Barrick made at $31 on only a dozen holes with no resource calculation.But that was under Peter Munk the founder of American Barrick.I point to a statement by Bristow who daid he passed on GBR as it had no resource and then laid out Barrick agenda for Canadian asset hunt as must be adavanced drill proven not yet in production with district upside.There is simply no

[likeike]

I was in Arequipa overnight once so you have me there. So care to venture if Barrick is a suitor and what odds  you have them taking it over or at least a sizeable position? IKE

[AlwaysLong683]

Here's my take: 1) I agree K was looking for a solid property in a safe jurisdiction and thus outbid others for GBR. 2)  The CEO of ABX made disparaging remarks about K's assets as a whole, not GBR in particular. 3) There were a total of 11 parties that signed non-disclosure agreements and thus taking a serious look at GBR. I bet ABX was one of them, was outbid by K, and thus