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Post by likeike on Apr 22, 2024 14:09:57 GMT
@nfg-long I would imagine that NFG liked what they saw in the Seismic imaging done over a part of Labs property. Also consider that Lab has only drilled around 350 holes thus far, maybe NFG likes the potential there, so why not steal it while you can. 5 about an hour ago
@brazenfox @nfg-long Yes. And our seismic results are about to be released.
Not exactly prophetic stuff, but it is looking like we probably get some very good news this week on that front.
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Post by likeike on Apr 22, 2024 15:18:28 GMT
@rogers.com To put today’s news release in perspective, Queensway North Corridor just got a whole lot bigger likely at depth towards Kingsway. Eric Sprott’s affirmation last week in buying more common shares on the Market justifies that something very big is about to be revealed. Let’s face it, management here, under Collin Kettell, thought this deal through and are ready to build far more ounces of Gold. The Scale of Discovery is enormous if not spectacular for New Found Gold. 10 41 minutes ago
@gldret25 "The Transaction requires the approval of 66 2/3% of the votes cast by holders of common shares of LabGold at a shareholder meeting to be called by LabGold. In addition, the Transaction is subject to customary closing conditions, including the approval of the TSX-V. It is anticipated that the closing of the Transaction will occur in the third quarter of 2024.
The Agreement includes deal-protection provisions, including customary non-solicitation provisions, a right for New Found to match any superior proposal, and a termination fee of CDN$500,000, payable by LabGold, in customary circumstances. Directors, officers and certain shareholders of LabGold, owning approximately 2.35% of LabGold’s common shares have entered into voting support agreements pursuant to which they have agreed to vote all the LabGold shares they own, or control, in favour of the Transaction." 0 21 minutes ago
@rockdoc My take is that NFG's interpretation of the seismic indicates very good potential at depth throughout the entire trend including the LAB acreage. NFG is buying the deep potential, not what has been drilled so far. This says to me that this is a very significant NR regarding the deep potential on all of NFG's property. Once people realize this, the stock "should" jump. NFG should not release any seismic results until this transaction is approved by LAB stockholders.
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Post by likeike on Apr 25, 2024 20:47:35 GMT
@gnutimes I always liked newfound gold, but I’ve been out of the stock for a while, meandering around with others in the same field of dreams. But this week’s announcement that newfound is almost being given Kingsway for free, considering all the drilling that’s been done, made me sit up and take notice. by consolidating so much of the strike zone in Newfoundland Newfoundland makes itself that much more attractive as a takeover target. In addition, according to Quentin Henning in a KE Report just published, Gold already has the potential in the West Keats area for a profitable surface mind I consider a newfound gold now to be a prime target for takeover in this era of rising gold prices, and would be surprised if it lasts the rest of the year without a take-over bid or two!
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Post by likeike on Apr 26, 2024 13:28:56 GMT
@red911 keatsgold Agree - NFG knows what they are doing and seismic likely tells them to head north. What LAB is doing I have no idea. And they are not practically going bankrupt - LAB has $6.5M cash in the bank - they should have just parked Kingsway exploration and let NFG story unfold. There was no reason to desperately unload Kingsway now. Too many large conflicted shareholders with influence likely designed this. |
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Post by likeike on Apr 26, 2024 17:43:19 GMT
eldreco bullsnbears - I reckon that an offer might go to SIC for the Moosehead property - let them do a spinco for the others (Fleur de Lys and the Benton jvs etc). On completion, immediately initiate a seismic program. Tim can't afford to do one now...and if any property could use a bit of a hand with targeting (given overburden) it is Moosehead! Great grades but no cash now to assist in direction. 3 about an hour ago @bayrunner eldreco, seismic is still to be proven by drills at NFG. Why spend more on the unproven ? April Journey of NFG seismic program begins -- only a few days left.... Proof of concept results please? 1 about an hour ago @novo2018 @benedict NFG can afford to wait as they have plenty of new land to explore in Kingsway. When Exploits is out of money then NFG can buy the Bullseye property just as they bought the Kingsway property. It doesn't make any sense for someone else to buy it as it is surrounded by NFG. 1 about an hour ago @11111 @11111 @realmoney Since when is Newmont all of a sudden NFG's best bud? CEO's almost always want their piers to say, "He Stole it" or "Did he ever make a great deal". I'm surprised, with all your experience that you don't recognize this, unless of course, your part of Newmont's team. Joking of course. This is a mine eat mine business! 0 about an hour ago @benedict @novo2018 not so sure... what if someone wants to saddle up to NFG's Land position and goes for the Daily Double > taking out LAB (rats) and NFLD? happened back in the 80's with Lac -> Goliath/GoldenSceptre grounds vs Hemlo 0 about an hour ago @malezy eldreco I could see them taking over SIC at some point too. Going back to PDAC in 2023, Tim (SIC) Denis (NFG) and Jeff (NFLD) were being interviewed together and they openly talked about consolidation of the JR's in Newfoundland one day. It's been 6 years since SIC's discovery hole and progress has been painfully slow, still they chug along occasionally hitting bananza grades Moosehead. I own NFG shares, and even more SIC shares... my concern is that SIC has gotten so low in price that NFG really could gobble them up for pennies on the dollar and retail gets fleeced. 2 25 minutes ago keatsgold nfg is busy with their land. they can buy out sic but wont have the ability to look at sics land unless they get some money coming in. 0 18 minutes ago eldreco Malezy, agreed. If SIC can't dream up some way of getting out of the doldrums pretty soon...she'll be gone, boy! Make a spinco - and make a deal - and get it out of the gutter. Geographically only Moosehead makes sense to NFG - let SIC survive and go play with the rest of their portfolio. And Keatsgold, I agree with what you say too. I'm just watching the chess game...I don't get to move the pieces! 1 4 minutes ago @bullsnbears eldreco New Found was very strategic in how they went about grabbing Kingsway from $lab for next to nothing. I would agree that $sic maybe on their radar considering Sokoman has diluted the company to such an extent that going forward it will be challenging to raise capital at high enough prices to make sense. The strategy of being too many things for a company that size was not wise. Raising money at low share price only dilutes even more and so they are in a viscious circle. Just like New Found went in for the kill with Labrador they could do the same with Sokoman to New Founds advantage of course. They pretty much have them where they want at this point and could probably take it out for $10 M 0 less than a minute ago
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Post by likeike on Apr 26, 2024 18:12:42 GMT
eldreco bullsnbears - agreed. While $10M may seem outrageous (and one kind of hopes that it might be a bit better) - the escape with honour is the spinco- at whatever ratings SIC deems appropriate. Either way, I figure that for me...yet another huge haircut...but possibly good for both companies. I saw just now a post from Malezy, that was perhaps a bit too critical to SIC (on this NFG board)but it just disappeared...he wasn't wrong. 1 9 minutes ago @malezy Yes I deleted the post, i'll try to keep the focus on NFG on this board.
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Post by likeike on May 1, 2024 13:57:11 GMT
@benedict @novo2018 probably on both sides of the Appleton - West side horizontal/ East side vertical - I have nothing to lose on my LAB - I just resent management not doing the best for its shareholders. There are a lot of reputations at stake on this deal from both sides...it would have been better to take over the company offering shares in exchange to all shareholders (not management who can decide what to do with the shares at their discretion) and spin out the non-Appleton assets to let LAB directors go play in quicksand to their hearts content. 1 30 Apr 2024, 15:55
@benedict Treat your shareholders (and newly minted/takeover) shareholders right and you get loyal future shareholders in the combined co. BWDIK (short-term thinking to try to profit by stealing value here) - PS - I dumped all my SPOT shares over this - already questioning DL's decisions
@red911 And if you are board of $LAB wouldn't you think it somewhat telling $NFG comes with an unsolicited offer just weeks after receiving results from their massive seismic program which included to the border and parts of $LAB claims? Wouldn't you also think it prudent to wait for NFG to drill test some of these seismic targets *before* accepting NFG offer? If not wouldn't you at least think it prudent to seek a fairness opinion to independently verify and guide negotiations? They knew enough to get a technical report but not fairness opinion - got it. 3 from #lab, about 5 hours ago
@red911 Remember when $LAB was drilling all over Kingsway - including to the extreme north? Instead of at the border *where they knew there were discoveries*? Who was guiding this program? $LAB still hasn't drilled much at southern border with $NFG. And where is the seismic NFG had to complete of LAB property that shareholders would be shared with LAB? 2 from #lab, about 5 hours ago
@red911 $LAB drilled 100,000m at Kingsway at shareholders expense and found nothing similar to $NFG but $NFG wants entire property for $20M - got it. BTW $NFG paid ~$5M in shares not that long ago for claims bordering but a fraction the size of Kingsway - not on AFZ trend and with no previous exploration - as QH recently stated publicly this deal really does seems like "highway robbery". So all said - why now and why $20M? What's the rush. Vote no.
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