A discussion on the Newfoundland area play
Dave Erfle, Founder of The Junior Miner Junky joins me to share his thoughts on the gold price rebound and reaction to the decline in the US markets. We then shift focus to discuss the area play ongoing in Newfoundland. With New Found Gold leading the charge there are a lot of other companies that are doing work in the area. Share prices are broadly moving higher but is it getting a bit overheated?
NFG is up 6X since going public. That is far from crazy in this PM market. Sounds like DE is trying to talk the price down so he can get in. Talking your own book. Take it for what its worth.
At $1.4 billion for what it has so far, David was being perfectly reasonable. He also said he’s not selling any shares (despite the probable overvaluation and extreme overbought readings) so that’s not exactly talking it down.
He nailed it with the comment about great marketing. Stories are everything to most investors and plenty of exposure is everything to most stories.
Matthew, I think DE was talking about his Marathon Gold shares .
I have -0- shares of NFGFF
I thought it was Marathon plus NFG but it was Labrador Gold that he’s also not selling.
Thanks for the correction.
I sold my Labrador for the second time as I thought I might have better luck in something else near term. With my luck they will follow up with results quicker than last time. I haven’t ruled them out, but these last drill results were not exciting. they don’t have to be but it just indicated to me that some others may have more near term movement. Something like Vizsla or even Pure Gold might have more near term. But, no one knows. I will watch there future results and hope I can catch a decent buy if they hit something more similar NFG. Who knows. Have to recover from today anyway. Not much that wasn’t hit in the miners to keep those looking for an alternative to inflation not running to gold/silver,etc. The games people play for self interest.
I definitely would be a seller of NFG here. Yes, it can go higher but with so many other opportunities out there combined with the extreme overbought readings, I’d sell at least some if I owned it. (No, I’m not talking it down and will not be a buyer if it does fall.)
That’s a scary chart, Matthew. But I think I’ll hold on till I hear that Sprott, or McKewen, or BM, or HH, or QH sell. it looks like this could be bigger and richer than Fosterville, and also just below the surface. So NFG could go much higher, especially if the deposit gets richer as they get closer to the Appleton fault, as QH believes may happen. Listen to the Prather-Adams interview today at naturalness.com
I meant naturalnews.com but spellcheck changed it
There’s nothing wrong with holding for the big picture since selling with the intent to buy back cheaper can backfire.
Bonzo, is it time for me to purchase more NSRPF?
Doc, I don’t know how much NSRPF you have, but if I had any cash I would buy NSRPF now.
Should I sell some NFGFF, PFE, or JNJ to buy NSRPF?
Dang……..parabolic …….. thanks Matthew for the chart…..
Granada Gold (GBBFF) discovers rare earth metals
The nonsensical intervention route continues. I hope the interveners get out of our market by end of day and go back to their cubicles.
4th take down of “paper gold” today. Get the CFTC to explain all those…
My alternating day pattern finally broken. All but three miners down today.
What you think about SIC Sokoman Minerals ?
I’ll nibble again in the high 5’S low 6’s on NFGFF, in the meantime, I’m happy with my 3.5 bagger.