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New Found Gold Corp V.NFG

Alternate Symbol(s):  NFGC

New Found Gold Corp. is a Canada-based mineral exploration company. The Company is 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 an 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 also owns a 100% interest in the Kingsway property, which consists of 264 claims on three licenses covering approximately 77 square kilometers. The project is located approximately 18km northwest of the town of Gander, Newfoundland. The Company is undertaking a 650,000-meter drill program on Queensway. It has royalty interests underlying Keats South and several additional zones in Queensway.


TSXV:NFG - Post by User

Comment by AlwaysLong683on Apr 22, 2021 9:04am
192 Views
Post# 33043491

RE:RE:RE:RE:Sell Lucky Strike Project?

RE:RE:RE:RE:Sell Lucky Strike Project?Blindboy, unlike you, I don't claim to know how much Lucky Strike is worth to a senior producer or junior explorer and/or how much NFG can fetch for it, but here are some points to contemplate:

1) I wonder how much NFG originally paid for the Lucky Strike Project claims? If NFG overpaid, admit your mistake and do what's best for the company going forward.  Nonetheless, whether you got it at a bargain price, a fair price, or overpaid for it, that's water under the bridge now and I think it doesn't hurt to make it known it's available for sale and simply see what other parties are willing to pay for it. If you get no offers or ones that are unacceptable, NFG could simply keep the property for the time being. Maybe NFG is in fact engaging in this process right now - we don't know, but I personally hope it is.

2) Is NFG conducting any activity on the Lucky Strike land right now, and if so, how much is it costing the company to do so, what kind of value are they getting for the money spent, and wouldn't that money be better spent at Queensway since Queensway will almost certainly require additional funds to develop going forward?

3) If NFG is not engaging in any activity at Lucky Strike, how much does it cost NFG to carry Lucky Strike on their books each year?

4) How much of NFG's financial resources do management and shareholders want the company to be putting into Lucky Strike vs. Queensway over the next number of years?




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