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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

Post by ronreaganon May 26, 2021 8:37am
196 Views
Post# 33266396

MOVING FORWARD

MOVING FORWARDBeaubie brings up a good, good point.

Does anybody believe we're going to be able to move up ad infinitum with just drill results every week? I don't make this point lightly, as I am VERY happy and grateful for these regular drill results. But, one MUST face the fact that ultimately we're going to get limited mileage out of these spectacluar drill results. At some point, Mr. Market will start saying (and wrongfully so), "another 150 meters at 150 g/t, who cares, show me the money." 

To me, the ONE thing that will open this play to the BLUE SKY is notice of a pending deal to purchase an existing mine. Here's some math for you:

Spectacular drill results + a mine to process the ore = WEALTH BEYOND YOUR IMAGINATION

No linear regression anlysis to figure this out.

HINT: In a recent interview (forgot which), QH seemed to be making a BIG DEAL out of playing COY, saying (and I am paraphrasing), "Huh? There's a mill owned by Maritime Gold in the vicinity [within 140 kms of NFG] and there's a lot of gold ore in the area that needs processing? Curious." And then there was a short moment of silence.

To me, THAT is as close as you can get without directly SAYING out loud that you're negotiating to get that mill.

I could be all wrong - but I'll try to find that clip when I get a chance and post it.


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