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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

Post by BladeMasteron Mar 04, 2024 9:01pm
189 Views
Post# 35914797

They are in No Hurry to Prove up Reserves... Why?

They are in No Hurry to Prove up Reserves... Why? There are a few reasons... 1) There is so much gold, there is no point in putting out a resource estimate for a district scale play that will take years to firm up 2) Lassonde Curve ~ Once a resource estimate is put out, action on stock price is positive in the short-term, but muted following release until production (which may be a few years out) 3) Complex Geology ~ Most likely, they will continue to focus on Queensway North to further their understanding of how the gold morphed along the AFZ... Further drilling may confirm certain "gold formation theories" and guide future exploration and production planning
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