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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 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

Comment by Gangstermeon Jul 24, 2023 12:25pm
79 Views
Post# 35554399

RE:RE:Difficult figuring the logic

RE:RE:Difficult figuring the logic

They are thus selling to folks that expect the stock to rise in price. I can understand the logic in a macro sense but not betting against an exploration company that continues to issue promising news reports. 

And if you are right that this is who is selling, where are they going to cover when things turn around? Are they expecting bad news re NFG? I do not think so! So they are betting on the Feds to increase interest, gold to drop and or commodities as a whole to drop. If that is what they are expecting to happen I would say they are much safer bets than NFG. I am obviously not a short seller as I much prefer to find stocks that have good news.

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