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 > Potential Barrick / Kirkland Lake Gold bidding war for NFG

<< Previous

Bullboard Posts

Next >>

Comment by cybermanon Sep 22, 2021 7:46pm

177 Views

Post# 33903023

RE:Potential Barrick / Kirkland Lake Gold bidding war for NFG

hi speedyg, a similar discussion from Mark Bristow, start about 2:25 to 5:10 for shorter version.

(not sure this applies to NFGC yet, but it is worthy, and specifically to what the big boys would be looking for)

https://www.youtube.com/watch?v=4T5-XL4BJi8

Sep.15 -- The world’s No. 2 gold producer is “excited” by some of the new project opportunities in the industry...

- M&A, great background video of open pit mine.

- very focused on quality, Tier 1 assets (whereas in the bottom 1/2 of cost curve, able to produce 500,000oz yr for 10 years)

- always looking to find right one to creat value not just to become larger

- Denver Gold Forum a breeding ground for transactions.

speedyg999 wrote: Barrick Gold's CEO Mark Bristow has to be thinking about the future drop in his Nevada profit margins if the U.S. Congress institutes a 8% gross royalty tax plus a 7 cent per ton dirt-moving tax. Canada would be the best Diversification for Barrick. and NFG could be the highest grade new mine-to-be in Canada.

Kirkland Lake Gold was the obvious company to take over NFG, owning Fosterville, but Barrick has the biggest credit line and lowest debt of any of the big gold companies now, so Barrick is the most financially able of the gold companies to buy out and take over New Found Gold. NFG also has the biggest long-term potential of any of the junior companies, and will have the highest grade ores and probable highest profit margins. With a 110 km long belt of potential ground, NFG also potentially could have the biggest mining operations complex.

Gotta love this situation! Buy!!

Mark Bristow CEO of Barrick fireside chat at Denver gold con

Towards the end he talks about being under-invested in Canada and about fixing it by picking up high potential juniors or "one big bold move". He never mentions prices or specific areas within Canada so again, maybe just smoke.