New Found Gold Corp V.NFG

Alternate Symbol(s): NFGC

Metals & Mining Gold

New Found Gold Corp. is a Canada-based mineral exploration company engaged in the acquisition, exploration and evaluation of resource properties with a focus on gold properties located in Newfoundland and Labrador, Canada. The Company holds a 100% interest in the Queensway Project, which comprises a approximately 1,662 square kilometers area, located about 15 kilometers (km) west of Gander, Newfoundland and Labrador, and just 18 km from Gander International Airport. The Queensway Project is divided by Gander Lake into Queensway North and Queensway South. The Company is undertaking a 500,000-meter drill program at Queensway.

TSXV:NFG - Post by User

New Found Gold Corp > Drilling

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Comment by AlwaysLong683on Mar 23, 2023 5:24pm

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Post# 35357416

RE:RE:RE:Drilling

Retiredgeo wrote: I suspect that there is another financing in the works. Perhaps a 5% stake to a mining company, similar what recently happened to Snowline.

I'd recommend NFG not enter into any agreement with a gold mining company.

Staying free of any such an agreement makes a future potential takeout with a wide-open field of suitors much cleaner.

Past equity raises are going toward drilling and assaying / photonassaying to grow NFG's list of promising zones and related data, the 3D Seismic Survey work and interpretation, etc. Money well spent IMO.

Also, I don't think there's any immediate need for money. According to its share structure page on its website, NFG has approximately $70M in Cash and Marketable Securities as of March 1, 2023. When more money is needed, plain vanilla equity raises or flow-through share raises would be the way to go in my view.

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