Preface to Nevada Pacific Write up on March 13, 2006
There are times when life throws pipe wrenches at the best laid plans of mice and men. I feel as though I’ve been ducking wrenches, tire irons, screwdrivers and a few wheelbarrows!
For me, this is one of those times because after writing an extensive piece on Nevada Pacific, and putting the usual blood, sweat, tears, and clichés into them, some news came forth from the PDAC Show in Toronto that affected the company. I believe the date of the announcement was Monday, March 6, 2006. After sorting through the unsolicited “intent to acquire all NPG shares scenario” put forth by Mr. Rob McEwen of US Gold Corporation I wanted to share a few thoughts with you before heading back to the original piece I wrote on the company.
So buckle up ‘cause here we go. I’ve spent some serious effort on this piece and I do hope it is helpful to you.
Deal or no Deal!
So the first question I have for you regarding Nevada Pacific is “Buy or No Buy!” This title is, of course, modeled after the infamous TV show currently taking the US by storm titled “Deal or No Deal”. Allow me to beg the question but present a few ideas so you might answer that question yourselves.
Rob McEwen issued a statement to the effect that he had intent to acquire the remaining outstanding shares of Nevada Pacific (and three other companies with large land positions on the Cortez Trend in Nevada) after having purchased a significant amount of the shares in private placements with the company. To wit:
“Assuming the exercise of all of the warrants forming part of the first tranche and the second tranche, Mr. McEwen will hold approximately 31.0 per cent of the outstanding common shares of Nevada Pacific Gold. The first tranche was, and the second tranche will be, issued from the treasury of Nevada Pacific Gold pursuant to private placements.” Stockwatch, 2006-03-07 17:26 ET - News Release based upon comments made by Mr.Ian Ball of US Gold Corporation which is Mr. McEwen’s Flagship company.
However, there was no offer! It was a hypothetical scenario whereby he said that he intended to do this, the key word being intended. Until something concrete occurs we need to keep an open mind fully comprehending these best laid plan scenarios.
We have to realize at this point that the second tranche has not been closed nor have all the options been exercised. So perhaps at some point in the future, this may take place in terms of percentages outlined but it has not occurred at this point.
Several key points to consider:
- The Intent of any and all parties
- The Timing of any future proposal
- How long will It take to implement any proposal
- The details of any future proposal
- Investors preferences on said proposals: this is not a fait accompli
- Business as Usual for NPG
- The difference between Mr. McEwen’s personal intent and the intent of US Gold Corporation: two separate entities
No Offer-What to Do!?
Without a bona fide offer on the table, this is all hypothetical. Let’s call it our hypothetical scenario until events firm up.
This is a bit like you owning a house in a particularly desirable neighborhood and a stranger comes up to you and says, “I have an intent to purchase your house, and based upon today’s values, I believe it is worth something in the vicinity of 84.5% of what that house down the street sold for three months ago. But you exclaim, my house is not for sale! No matter, the buyer responds, this is my intent. Well, do you have an offer? No. When do you plan on presenting an offer? When I’m ready. What happens if I don’t want to sell my house? Hmmm, we’ll get to that later.
Ladies and Gentlemen, this is the gist of what is happening right now. Everyone wants to know what to do. Is this a good thing or a bad thing? And we always know that final decisions are ultimately based upon dollars and sense.
But clearly, until any concrete offer is presented, and not before the NPG Board of Directors has scoured any proposal in detail, there is no other course of action to consider but business as usual.
Business as Usual
I want you to consider several things. I’ve spoken with management at Nevada Pacific and as far as they are concerned it is Business as Usual until something tangible is manifested. It will become tangible when such a statement is transferred to the form of a “written offer” in the parlance of real estate jargon. Then that written offer will need to be contemplated and voted upon by the various parties involved. But what I want you to remember above and beyond all other things about Nevada Pacific is this: It is business as usual and that means the company will proceed with all of the scheduled drilling programs and continue to focus on shareholder value much as they have done for these last many years.
I want you to also consider that the jury is still out on the quality of this “intended scenario” and that there are many variables to be superseded between now and the successful completion and final termination of any proposal. Remember that NPG has been working towards a successful conclusion in this particular resource market and these particular resource properties in Nevada for many years. I bought Nevada Pacific based upon what I thought their leverage to gold might be and upon what I knew to be a quality management team. There’s a part of me that would still like to see how my decision ultimately pans out. Yes, it was a pun.
I should also say that I’d like to keep this very complex scenario as presented to date as simple as possible. Let’s not become bogged down on possible scenarios before the fact. For instance, what happens if any one of these companies drills a spectacular hole on one of their properties? I call that a “Eureka hole”! Do you think that might change the dynamic of this equation? Well there are a plethora of those types of unknown possibilities that could affect any hypothetical transaction as so put forth. Let’s focus on the here and now as it unfolds and not get caught up in gamesmanship although I’m certain there is a real basis for what is being discussed on one level or another between the various players in this equation.
This has turned out to be a much more difficult story to cover than originally anticipated and my intention would be to look after the best interests of Nevada Pacific and its shareholders. Since I’m a shareholder, I’m in the same boat with all of you and to some degree NPG management is in there with us. Right now it looks like a pretty big boat! Either that or it’s a small boat with a lot of people!
And just for the record, I don’t know anything more than you do. I have to go on instincts and read between the lines. Management has a duty to be very tight lipped and somewhat poker faced about what is unfolding. That’s the way it is .So when I say “deal or no deal” to them, they’ll probably say “what deal”?
Of course, again, it must be remembered that management can do nothing until a concrete offer is on their desks. In the statement that was made by Mr. McEwen, there was a hypothetical suggestion that Nevada Pacific shares were worth X amount of US Gold shares. Again, without Nevada Pacific’s Board of Directors and their management having something with which to work, i.e., a solid offer, there is nothing to contemplate.
I want you also to consider that historically, any corporate offer, hypothetical or otherwise, is usually countered with another proposal that is financially more substantial. You might read that as one that is bid higher. So currently, one might assume that a bit of gamesmanship is occurring. One party desires to purchase something at the lowest possible price and the other party wishes to maximize value. The devil is in the details; isn’t it always?
There is one thing I do not want any of us to lose track of for an instant and that is the value of the land that Nevada Pacific currently controls. It is special indeed and has taken time, effort, and a significant amount of intellectual capital to accumulate. Don’t ever underestimate that value because if you do, it is done at your own financial peril. After all, why would anyone initiate a non-offer based upon limited intent in a hypothetically diverse situation to create all of this non-interest if some interest was not there based upon a perception of real value! I hope you understood that because I’ll never be able to recreate that sentence. And please, will someone please explain to me what I just said!?
Also consider that this is the first inning of at least a five inning ball game.
Management and the Board of Directors will look to Shareholder Value
I’ve spoken to many people about NPG over the years and I’ve found that there has always been a high degree of loyalty to the company and its management. That is why I personally believe that management will look to maximize shareholder value regardless of what transpires in the short term and regardless of any timeline: real or imagined.
There is 50,000 feet of drilling planned and it will be implemented. The money is available, the plans have been drawn out, the targets have been isolated, and the process is soon to commence on one of the hottest mining areas in the world. It will be Business as Usual for NPG.
Timing is an Issue
There is one additional point to contemplate and that is simply that timing is of the essence. That concept works both ways. This is not a done deal and there is good deal of water to flow under the bridge before it is a fait accompli. Consider also that this plan by Mr. McEwen consists of four companies based in Canada being purchased by one company in the United States and the entire exercise entails substantial amounts of stock being transferred between various parties based upon how investors are going to perceive where their best interests lie. This is not going to occur over night. Shareholders will have to be apprised, management will have to decide, and directors will have to direct. This is not a proposed cash scenario which would be infinitely easier to complete if such a proposal were to be initiated. Much will have to be contemplated.
It is also my understanding that a very large percentage of shareholders, apart from any position that Mr. McEwen controls, will have to vote in favor of any concrete future proposal if it is ultimately to succeed.
Meanwhile, NPG will be moving full speed ahead on a minimum of six projects. 50,000 feet of drilling will be put on “fast forward” because it is in the best interests of Nevada Pacific Shareholders to do so. David Hottman and company have always looked after the best interests of their shareholders and I see no reason why that will not continue to be the case until the “keys are taken out of their hands”.
I for one am very anxious to see what this 50,000 feet of drilling is going to uncover and discover? Could there be a “Eureka Hole” somewhere in one of those programs. There is only one way to find out and that is what they’re going to do. As Ed Sullivan used to say, “right here, today, 200 Canadian Dentists will be doing their drill for us. I’m so sorry, I misread the cue card—it’s 200 Canadian Miners! Won’t you give them a warm welcome?”
I personally own NPG shares and am biased. That being fully disclosed, I’m planning on staying put. I may purchase more. I went into this believing that NPG had an opportunity to be a $5.00 US stock. I still believe this could be the case. My personal feeling is that gold is going to continue its upward trajectory and that can only be a positive for reputable resource companies with excellent projects and good management. These are my opinions and that is why I suggest you all perform your own due diligence and work carefully to understand the machinations of what is occurring. Don’t jump the gun and be measured and considered in your actions.
A lot can happen between now and when the fat lady sings. I think she’s a coloratura soprano and so it’s perfectly acceptable to be able to support that lovely voice with substantial body weight. It is about the diaphragm you know. It’s all in the breathing.
But the poor lady is going to be dining between four locations in the US, four operations in Canada, and one very large operation in the US. What’s a girl to do but take her time? You don’t want her to get indigestion now do you?
Now, On to the Main Article on Nevada Pacific
Nevada Pacific (NPG-V ) Location! Location! Location! or…“It’s the location, Stupid”!
Does proper social etiquette allow the usage of the word stupid? Especially after what I’ve just subjected you to? Of course, I’m utilizing it in the most general of terms. But do you remember the context in which it was commemorated in a certain famous phrase: “It’s the economy stupid!” And so it became part of the common vernacular, the lexicon of the country. Therefore I should be able to use it without offending anyone. “It’s the economy stupid!” had to do with identifying the one common denominator to which most of the US electorate could relate back in the 1996 national election.
Nevada Pacific’s land position and the quality of the properties (location!) is the one common denominator to which all knowledgeable gold and silver investors can relate to in this generational bull market.
Introduction
But seriously, remember the old real estate adage, “location, location, location”? It’s been used so much that it is now a cliché. It simply means that real estate investments can be very forgiving, especially if you purchase property where the demand is most intense, where the “hot spots” are situated—where everyone wants to be. And that ladies and gentlemen, is a primary adage applicable to Nevada Pacific. When one is in the “right” location, and especially at the “right” time, many other components of a successful business endeavor (whether it be in real estate or mining exploration) become just a tad bit less important. NPG is in “the right place at the right time”.
There are so many clichés and so little time. Another one is that “the best place to find gold is where it’s already been found”. Hence, we have the term “area play”. In some sensing, entire sections of Nevada are “area plays. We have the Carlin Trend, the Cortez Trend and of course, the Battle Mountain-Eureka Trend. All have been and continue to be successful area plays capturing the imagination of investors worldwide. Wouldn’t you know that Nevada Pacific is operating in all of those areas as can be ascertained and empirically verified by reviewing the NPG projects targeted on the maps further down this article? *
OK, one more cliché and that would be “time heals all wounds”. This applies to NPG because one might have to be patient. But if you are patient, I believe you’ll be richly rewarded over time and those wounds festering from poor junior mining investment choices over the years might suddenly be healed. And like I’ve mentioned in the past, we are all part of that elite group! Oh heaven knows we are all part of that group. Can I get an Amen? I say, do I hear an Amen!?
I’m just a plethora of clichés today, aren’t I? But you know why they are clichés? It’s because over time, these little axioms have consistently proven to be accurate or at least to contain some kernels of truth.
Opportunities in General
I’ve said this many times in the past and in many different ways. You can take a horse to water, but you can’t make them drink. Oh no, I’ve become afflicted with “clichéavitis”! (a most unfortunate condition where one is consistently mandated to utilizing clichés to make a point—I’ll seek help immediately and I do offer apologies!)
My most important function is to identify opportunities as I discover them or in some cases as they’ve been identified to me! Nevada Pacific truly fits into that category. It is an opportunity. Might I suggest that you visit www.nevadapacific.com and acquaint yourselves with the projects that I’m discussing in this article? It’s an excellent site, easy to navigate and easy to understand.
And yes I know that most people don’t like to perform their own due diligence because it can be confusing, time consuming, and difficult to understand the jargon. But here is another cliché—there ain’t no gurus in this business. The more informed you become, the better the investor you become. I will always encourage you to visit the company websites and converse with the investor relations people at the company—all the better to make your own determinations.
I do have one advantage in some instances. I was involved in the last gold bull market 20 years ago and I witnessed how it unfolded, the reasons for it, and the how it ended. I became involved in this current bull market five years too early. I think Doug Casey said basically the same thing so I’m in good company. But it has given us an opportunity to look over the landscape and see how this bull market is unfolding over time.
Remember this One Thing as I climb up onto my Soap Box
There is one huge difference which has yet to be integrated into the current gold and silver bull market mix. That difference is the information flow that we as investors currently enjoy today. We did not have the information age 20 years ago! The computers were not there for the average investor. Please remember that one fact. People had to call their brokers to get updated on a particular company, especially the juniors and the exploration plays. Heaven only knows the garbage that was relayed to them over the phone by unscrupulous brokers. I received some of that garbage myself and had no way to really check up on information unless I would read a particular newsletter, visit the company, or call them up on the telephone. Back then, people relied on their brokers for information and today you have the opportunity to perform your own due diligence on-line. What an incredibly opportune development. Please take advantage of it. GoldSeek.com endeavors to offer you solid ideas and good information but it is always up to you to make the final choices.
And remember this, even now, with the computers and with the web, the public is not in this market. It is institutionally driven. When the public finally wakes up to the fact that gold and silver are the way to protect the wealth they’ve worked their entire lives for, they will be clamoring to get into this market. It is a puzzle to many analysts as to why more “mom and pops” are not paying attention. But that sound you hear in the distance is the herd moving ever closer. When they finally arrive en masse, they will be on-line reviewing companies just like you’re doing right now. When that happens, the “dot com” era is going to look like the pony express.
Now is the time to establish your positions in the reputable companies. Don’t wait for the herd to drive up the prices to “un-herd” levels! I couldn’t resist it.
OK, on we go with Nevada Pacific, a company that is in my opinion, is as reputable as they come, reasonably priced, and has the advantage of an experienced and ethical management team.
Opportunities Abound in Nevada
Again, speaking of Doug Casey, here are several paragraphs based upon his observations:
“– Nevada consistently ranks as one of the most geologically prospective and pro-mining jurisdictions in the world today. If Nevada were a separate country, it would rank number three in the gold producers of the world. Most of that production is coming from the Carlin trend where over 50,000,000 ounces of gold have already been produced. More than 107 million ounces of known proven and probable reserves occur on the Carlin Trend. And there may be up to 180 million ounces of resources, depending on what you include in the number.
There are, however, an increasing number of savvy explorers coming to the conclusion that the Cortez trend, which runs roughly parallel to and 50 miles southwest of the Carlin Trend, may host a resource as large, or even larger. So here is an overview of Nevada, the past, present and, more importantly for us as investors, the future. –”
The Cortez Trend is in the same area of Nevada and is similar in size to the Carlin Trend, but is displaced about 50 miles southwest. It includes the Pipeline Mine Complex (12 million ounces) to the north and the Gold Bar Mine (1 million ounces) to the south.
I don’t think we need much more convincing to realize that Nevada continues to offer huge advantages to the mining community.
Stepping Back to Look at Nevada Pacific’s Big Picture
The mission statement of the company is to create wealth for shareholders through the acquisition, discovery and development of economic, multi-million ounce gold and silver deposits. Now many companies say that, but NPG takes it seriously and has been systematically “planning the work and working the plan.” But wait, “if you don’t know where you’re going, you’ll never get there!” (Doctor I’ve got clicheavitis, what do I do?)
In my opinion everything I’ve witnessed over the past 7-8 years has demonstrated to me they are moving in that direction—creating shareholder value. They are planning the work vis a vis the planned and budgeted 50,000 feet of RC drilling on eight of their projects in 2006. So this year they really will be continuing to work that plan. Additionally, by focusing on the Carlin, Cortez, and Battle Mountain-Eureka Trends in Nevada (where success has been counted in enormous numbers over the years), they know exactly where they are going and how to arrive safely at that destination. The fact that we are in a generational bull market in the precious metals sector will certainly be of benefit to them as they move forward.
We can easily become involved in details and that is not my intention in this first article about NPG. We can become too caught up in details and lose track of the big picture. The big picture is that Nevada Pacific has a very sizeable land position in Nevada along with the Magistral Property in Mexico and the Bat Ridge Property in Utah. Incidentally, Bat Ridge has proven up some extraordinarily attractive drill holes on a small program and relatively speaking Magistral, is a small gold producer with approximately 111,000 ounces of gold produced up until February of 2006 and proven and probable reserves of approximately 318,000 ounces of gold.
But the quintessential message to be understood at Nevada Pacific is:
- the significant land position they’ve acquired in Nevada and the overall quality of the projects
- their quality management team, headed up by David Hottman
- the longstanding integrity of the company,
- the extensive drill program that has been planned and budgeted for in 2006.
Recently I was thinking that I’d like to be able to recommend a junior mining company for GoldSeek.com readers that was still reasonably priced! Ever hear the saying you “you can’t see the forest for the trees”? That was the “Eureka” moment when I realized that Nevada Pacific had been flying under the radar and was just about to soar into the stratosphere.
And that brings me to my choice for the most important element in the success equation for Nevada Pacific and that would be the management group. Cheeze Louise! The management team and Board of Directors of Nevada Pacific Gold Ltd. are comprised of the core management teams that founded and grew Bema Gold Corporation, Eldorado Gold Corporation and Goldcorp to successful gold production companies. Just think about that.
Here you have a team of people that were involved in the successful creation of Bema, Eldorado and Goldcorp. Do you think, just maybe, that they just might have the expertise, knowledge and talent to move another company ahead when they’ve already acquired one of the largest land positions in Nevada? In my personal, humble opinion, the answer is yes. I don’t think it gets much better than that.
My Personal Involvement with Nevada Pacific
I’ve been involved with Nevada Pacific for over eight years—somewhere around 1998. I have not sold a share since day one. That is the honest truth. Why? It is because I’ve always had faith in David Hottman, currently CEO of the company. David came highly recommended and has always had a knack of surrounding himself with bright people and then has listened carefully to what they’ve had to say. Moreover, I’ve always sensed a level of integrity with which I’ve been very comfortable. David used to take the time to talk with me when he didn’t know me from Adam—or Eve for that matter. On top of it, he is one of the nicest people you’ll ever meet. Is that important? You’re darn right it is. Being able to communicate with others is one of the first prerequisites of any CEO, and that “likeability” factor plays heavily into that equation
I’ve known David Hottman for well over seven years and my feelings have always remained the same. He is a excellent manager and is devoted to taking Nevada Pacific to the big leagues. He is also someone who has learned from his past mistakes and has vowed not to make them again.
Mr. Barclay, the past CEO of the company, who retired in August of 2005, was exactly same way. I remember him as always being accessible and he had the philosophy of building the company one investor at a time. That philosophy is the exception rather than the rule in today’s world of exploration companies.
I’ve been talking with Erick Bertsch who is communications director for the company and I have to say that he and NPG are a perfect fit. Erick has been the ultimate professional and has exemplified the positive historical qualities of this company culture that has made it so successful. I would urge you to talk with him for further clarification of any of the ideas I’m putting forth here. You know another cliché is the “devil is in the details” and Erick and David have both addressed those details to perfection. Call 1.604.646.0188 in Vancouver Canada with any questions for Erick. However, that being said, I believe he’ll tell you the same thing he told me and that I’ve been telling you: “Business as Usual!” It’s almost like a mantra!
Incidentally, NPG has an excellent presentation that is available on their website in the form of a Power Point Presentation. It wouldn’t hurt to take a look and I found it to be extremely informative. Go to the company website and locate the Investor Tab. Then go to the Presentations tab if you’d like to down load it directly.
If you’d like to be on my Email list for future reports, please use the email address at the end of the article.
Why should we be excited about Nevada Pacific?
First of all we have location thing going on and then we have management. Now on top of that we have a company that has plans to undergo and aggressive drilling program on eight of their properties in 2006. I believe that somewhere in the vicinity of 50,000 feet of Reverse Circulation Drilling (RC) on eight of their projects have been budgeted for drilling in 2006. They will begin their programs in just a few weeks. Anticipation is running high. Below is a map of where some of their Nevada Properties are located. I’m also listing them below the map for ease of referral.
The Properties
The 8 properties that have been targeted for drilling in 2006 are:
- BMX (NPG) Gold
- Buffalo Canyon (NPG) Gold
- Keystone (NPG) base metals and silver
- Cornerstone (NPG) Gold
- Timber Canyon (NPG) Gold
- Bat Ridge in Utah (NPG) gold, copper, and silverTwo Joint Venture Projects with Placer Dome
- Keystone (Placer Dome U.S.) gold
- Limousine Butte (Placer Dome U.S.) gold
The Cortez Trend
Below is a map that illustrates the relationship of the Cortez Trend to the Battle Mountain-Eureka Trend. Take Note of the legend on the upper right hand box and you’ll see the circles with the stars within that represent Nevada Pacific Properties. These are very active gold and silver districts and you can see that NPG is well positioned in all of them.
The location of the Magistral Mine in Mexico
I’ve enclosed this map so it is visually apparent where Nevada Pacific’s Magistral Mine is located in Mexico. While the jury is still out on how this project is going to move forward, it bears watch because it is a producer and with the price of gold appreciating like it has been, there is no telling what will happen with this property.
Recommendations
For the record, I am a shareholder of Nevada Pacific, and have been an investor in the company for over eight years. I am biased and have maintained an excellent relationship with the company.
It is my personal opinion that this company will soar past five dollars a share in the not too distant future. Again, this is solely my opinion. I will also continue to purchase this company well into the $2.50 range and I personally believe that is has a good ways to run past this price point as this bull market heats up.
They are about to undertake an extensive drill program on many of their projects any of which could prove up that “Eureka” hole. As a conservative speculator, I like my chances.
There it is. That’s my story and I’m sticking to it.
Conclusions
You know I could reel off a bunch of numbers to you and basically regurgitate what is on the company website. Some analysts play it safe and do it that way. It’s not my style. I want to know the company culture. I want to know what the secretaries and mail room guys are saying. That’s how I get the feel of things. You are perfectly able to do the exact same thing that many other investors do—pick up the phone and talk to their Investor Relations people. Some you’ll find very helpful and some will be less than cordial. You’ll find the people at NPG very cordial—and knowledgeable.
If I really like a company and their projects, I’ll pick up the phone just like I did with Nevada Pacific so many years ago. I realized that I’ve been involved with this company for all these years, and had a very good feeling about it. Why shouldn’t I try and get the story out there? I think it’s pretty obvious how some of the other companies have performed after my initial comments on GoldSeek.com.
No, it’s not about me. It’s about the quality of the companies, the qualities of the projects and the qualities of the management. Some of them take a bit longer than others to develop and get moving. In America today, it’s all about now. What have you done for me today!? There’s no patience. If you don’t have patience, you’re not going to be a good investor. You’re going to end up being a day trader and you know how most of those people end up—with a pup tent and a tin can. My newest favorite saying is “day-traders need not apply!”
But seriously people, perform your own due diligence and make your own decisions. Remember that leading the horse to water thing! Listen to the herd in the distance. Remember that when the “dot-com trading model” comes into play again, and it will, you’ll want to be positioned in companies that are well positioned themselves.
Nevada pacific has all the components for continued success. Excellent projects, an amazing management team, a remarkable land position in a very stable part of the world, and integrity to boot. This is a company in transition and very capable of taking this gold bull market by the horns.
In Nevada, the Company has a portfolio of 10 properties, of which Keystone and Limousine Butte are under joint venture agreements to Placer Dome U.S. (Barrick?) Placer Dome U.S. can earn a 60% interest in these properties by spending US$5 million on Keystone and US$4 million on Limousine Butte over 5 years. Placer Dome U.S. can earn a further 15% by completing full feasibility studies. The Company retains the rights to silver and base metals on the Keystone property. Nevada Pacific has prepared an aggressive exploration and drilling program for 2006 focused on Cornerstone, Keystone (base metals), Timber Creek, Buffalo Canyon, and BMX. The Company will also focus exploration activities on the Bat Ridge Project in Utah and the Magistral Mine in Sinaloa, Mexico.
There is one card that hasn’t been played out yet, and that is the “Rob McEwen card”. We’ll now soon enough how that scenario will unfold, but in the interim, and all together now—It’s business as usual! Excellent, now let’s try that line in three part harmony. That’s beautiful man, just like Mort’s Bait and Tackle Choir. You people are good and should be in a musical group!
I’d like to make one final comment and that would be about NPG’s exposure to silver. As you most likely realize by now, silver has behaving like a team of runaway horses (my final cliché!) and it is comforting to know that many of NPG’s property have exposure to it. I think this is icing on the cake and may play a big part of the success of these properties going forward.
OK, time is way past up. But I hope I’ve helped to clarify things and bring the positives of this company into focus. I’ll keep you posted on developments as they occur and keep an eye out on the Goldseek Press Release Box for Nevada Pacific’s Press Releases.
Until next time,
D. Stewart Armstrong
Posted by D.Stewart Armstrong in Articles