@KauaiTrader Ahh a large stake in Calibre! I own shares I bought with the profit I made off $MGDPF Need a Calibre forum here. I’ll probably be there adding with you on a pull back
$MGDPF Marathon Gold Receives Interim Order and Intends to Mail and File Special Meeting Materials Today In Connection with its Proposed Combination with Calibre Mining
$MGDPF When marathon sold out for what was computed to be .61 a share to calibre, I think most marathon shareholders were very unhappy [I think marathon was in the mid 40s at the time of the deal]. But immediately after the announcement, marathon went up 12% and calibre went down 12%, and then the deal for marathon shareholders was more like .53 a share. Now calibre has recovered to where it was, which is why marathon SP is just a tick under .61. If gold continues to spike up, calibre and marathon should rise together proportionally, so those that held on might see a lot better valuation. This is exactly what the company said when it made the deal, that it has a chance to re-rate both companies higher. The premise is calibre, by getting marathon on the cheap just 12-16 months before production, is a lot more valuable than calibre before the deal. And for marathon shareholders, now financing questions are answered, plus the money to explore the property and find more good stuff
$MGDPF Calibre and Marathon Announce Completion of Previously Announced C$40 Million Financing of Marathon
https://www.stocktitan.net/news/MGDPF/calibre-and-marathon-announce-completion-of-previously-announced-c-9u1b2zs6089p.html
$MGDPF In addition to $IAUX I have been accumulating shares of $NFGC. Again an IRA play but a story in progress that would make a good movie. Newfoundland literally has a sector of the province where gold was discovered the last few years sitting barely under the soil and often in outcroppings.
It has been a "quiet" gold rush with major investors like Eric Sprott buying into exploration companies controlling thousands of acres and finding spectacular drilling results.
They have been drilling for 2 1/2 years and will possibly put it all together next year in an assessment of how much gold is in the ground.
At that point we might have another Great Bear Resources.
Here is an entertaining website with the history of what is underway. Fascinating read if you are a gold bug.
https://goldrushnewfoundland.com
$MGDPF Researching it a bit Marathon insisted on the option to accept other offers and Calibre Mining has first right of refusal. This is likely to get a few other bids in the next few weeks. A lot of miners are cash heavy and would like a mine that in a Tier 1 location and will generate $200m free cash flow.
$MGDPF Very disappointed but not unexpected in this market. Management sold too cheaply at $.61 a share. I am sure they benefitted personally and explains why they were not buying the last month while in negotiations.
My cost basis is $.3705 so I am happy with a 40% gain. I will likely just pull out my initial cash and keep the shares of the acquirer.
I now have my eye back on $IAUX with 1000 shares I bought last week for $1.26.
It is a longer term IRA play but if they can execute it could be a monster gold producer out of Nevada in a few years.
