NRG/NRGOF anon here to talk a bit more about my favorite company.
Share price has increased considerably in the past few days, but buying now MIGHT not be FOMOing just yet. Here's why.
In the past, Newrange used a drill technique called "Reverse Circulation" (RC) for all its drilling. It's actually a very interesting technique but I won't go into detail. However, because the type of rock being drilled through was quite fractured, it's now believed gold grades for holes were being UNDER-reported due to the RC blowing gold grains into the fractured rock and not into the samples.
Newrange recently got a new CEO and I'm pretty sure he's the one that suggested trying the traditional diamond drilling as opposed to RC. Newrange went and twinned 3 of their previous RC holes in December. One of them was reported in a news release dated Jan. 28, 2019. The average grade for the RC hole was 0.424 g/t, and the average for the twinned diamond drill hole (that was only two meters away) was 1.129 g/t. That's 2.5x higher which is fucking nuts, and could mean that all of Newrange's drill holes are under-reporting by around that much.
But that single hole could be a fluke. The other two twinned holes have yet to be reported, but people generally seem to think news about them will come out either this week or within this month. IF both other twinned holes tell the same story as the first one, it's a reasonable assumption that the share price will experience another decent move upward.
I will also mention that Newrange is, at this point, fairly low on cash. They will need to raise money at some point soon. Hopefully they'll be smart and wait until after the (hopefully positive) drill results before they raise money, to minimize dilution.
At the end of the day, this is still a very speculative penny stock. I have heaps of faith in it but I could end up being wrong. Buy at your own risk and hopefully we can meet up in our golden lambos one day.