Northern Freegold (symbol NFR, NFRGF for Americans) is a Canadian company.  Its main asset is the Freegold Mountain Project in the Yukon territory (click to enlarge):


At a gold price of C$1,484.69; the after-tax Net Present Value of its main asset is C$357.8 million:


The gold price in Canadian dollars right now is C$1,509.27:


Northern Freegold is now on sale at a market capitalization of only C$1.6 million:


Why would the market sell a C$357.8 million asset for C$1.6 million?  Did the insiders screw up Northern Freegold?  Probably not.  Of the 45.768 million shares, all eight directors on a single day (January 30, 2015) bought into 19.3% of Northern Freegold.

Here is the share count of 45.768 million:


Here are the names of all eight directors:


The shares and warrants that all eight directors bought on a single day total 8,860,800, 19.3% of the 45.768 million shares fully diluted: