Post by
MaterialsMan on Feb 28, 2024 5:14pm
Thoughts on what's going on
Read through Newmonts report and noticed that they plan to dump at least a half dozen projects.
Profitability is becoming a bit of an issue.
For the time being at least it does not look as though the largest mining companies are in the mood to throw big bucks into acquiring juniors and turning the properties into mining projects.
Let's face it: Undeveloped properties aren't going anywhere and they are not going to develop themselves. It often costs billions.
On a personal level, I don't have ten or fifteen years for things to turn around to the point where M&A comes back into vogue.
I feel that at this point in time gold is kind of stuck as far as price goes. Thankfully many countries are buying it to bolster their reserves. We may see all around production begin diminishing. This would probably be a good thing in the long run as there would be less of a supply to meet demand. That's the theory anyway.
I think that exploration companies are going to suffer price wise until their value becomes realized and the giants start looking to replace their reserves. Those with plenty of cash to ride it out will eventually be winners.
That's if bitcoin does not replace gold.
NFG is in a relatively unique position in that it is one of very few if any juniors in a position to skirt the issue of having to be acquired for its shareholders to benefit.
Comment by
Global1966 on Feb 29, 2024 1:14am
Watch the gold price in the second half.
Comment by
MaterialsMan on Feb 29, 2024 8:16am
Hope it turns into something to get excited about.
Comment by
DanWarren on Feb 29, 2024 8:31am
It will be much better for shareholders, in the long run, for NFG to stay independent and develop Queensway by itself. Start on a small scale using Maritime. Use the cash flow to build their own processing facilities at QW. The latest bets today in VEGAS is incredible......seems very probable there is going to begood results deep drilling.