New Found Gold Corp V.NFG

RE:Caught between two pulls

[AlwaysLong683]

Retiredgeo wrote: Gold is up ~$25 USD/oz

Dow is down ~740 points

Gold is pulling NFG up, whereas, the broader markets are pulling it down.  Poor NFG has no control over any of this and is floating with the tide.  It may have a tough time climbing when the broader markets sink day after day.

I still believe that it is assay results, not the price of gold, inflation, war, etc. that will move NFG's share price.

Today is another example:

Gold up to around 1,940.00

Senior Gold Producers (ABX, AEM, NGT, YRI. heck, even K which has operations in Russia) are up between 4.5 - 5.5%.

NFG closed at 7.95, up 2.9%, which is nothing to sneeze at, but nonetheless significantly underperformed the senior producers by a significant amount, again, in my veiw, because they cannot take advantage of the rise in the gold price until they start producing and selling ounces, unlike the senior producers who will benefit almost immediately from the increase in the price of gold no matter what the cause.

The post QA/QC report bump (10.8%) has now been baked into the current share price. 

I believe, going forward, the best chance NFG has to get a real pop in its share price outside of a takeover (or hostile bid that is made pubic) is to produce assay results that meet or exceed market expectations.