Nulegacy Gold (NUG.V or NULGF) is making a major breakout and is up more than double from its summer lows. The company is outperforming the large miners such as Barrick, Newmont and the GDX by a wide margin.
Nulegacy is exploring the Cortez Trend with its partner Barrick and has attracted Alex Davidson as an advisor. Alex was the VP of Exploration and Corporate Development for Barrick and was instrumental in acquiring Pipeline, Cortez and Goldrush from Placer Dome in 2005. Alex is a great geologist who is a Cortex Trend expert. These Cortez Trend mines are some of the best low cost producers in the World.
He will be assisting Dr. Steininger, Nulegacy's chief operating officer who discovered the first Cortez Trend deposit, on the next major drill program starting this spring.
Those are two of the best Cortez Trend geologists working on this exploration program. Barrick knows this is the best area to find low cost gold deposits that are located in a politically stable jurisdiction. These Cortez Trend mines can become huge 20+ million ounce deposits with very low cash costs. Barrick is writing down losses and looking for low cost growth.
Barrick is aware that Nulegacy may be just scratching the surface of a potential world class mine and the market may be signaling that Nulegacy is one of the best options for acquisition by its incredible outperformance since this past summer.
Nulegacy is on the verge of possibly breaking into new 52 week highs at $.15. Investors should look for higher than average volume coming into the stock as they move closer to the drilling season.
The companies relative strength and outperformance may be signaling that the Nulegacy team may be onto something here.
Listen to my recent interview with Nulegacy CEO James Anderson below.
Also take a look at this new corporate video below.
Disclosure: Author is shareholder of Nulegacy and they are a website sponsor.
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