New Found Gold Corp V.NFG

Lab results from anybody?

[Flyder]

Save for LAB, all the Nfld stocks that I follow have not reported any results for a few weeks now.  Is there anyone on this board who lives near, or knows someone who lives near, Springdale, where the assay lab is?  I can't imagine how big of a yard they must have that must surely be overflowing with core waiting to be assayed.  Are they on strike or something?  Weren't they supposed to be doubling in size?  Sure seems to be a huge bottleneck that puts the brakes on this incredible gold play.  Summer doldrums are bad enough, but throw in a slow lab ...and we wonder why the stock prices are falling? 

The silver lining is what will happen when that bottleneck bursts open and assays up the ying-yang will be flying all over the newswire.  Maybe NFG will get back to announcing whopper holes on a weekly basis again.  For awhile in the spring, one could hardly catch their breath before more assays were released that would beat prior results.  And the climb in the stock price during that time was utterly head-spinning.  Will we return to that scenario once the lab figures out how to increase production?

[Kewl002]

Yes!

[rummager]

A prospector who was in touch with Sprimgdale a couple of days ago told me that his sample would take 5 weeks 

[megacopper]

  Sure we had an update a few weeks ago. We are spoiled with so many great news releases in such a short time period. Not one other exploration company in the world has released as many news releases with earth shattering drill results as New Found Gold has during the past year. The backlog at the assay lab will clear soon and the NFG guys will provide more of the same great drill results

[wajac]

Some cores are also sent to Vancouver for assays. Still waiting on those too. We are just emerging from Covid restrictions which may impact staffing levels at labs. Be patient my friend. We will eventually get results.

[megacopper]

Another issue this time of year with lots of businesses not only in the mining sector but people are entitled to some vacation time. So obviously there will be less staff trying to do the same work load. It would be nice if there could be replacement personnel and in some jobs it is possible but with specialized jobs such as at the assay lab it's not so easy. Also the assay labs are swapped

[Flyder]

All good points, Megacopper, and I've been doing just that (freeing up cash to buy more).  Grateful for the dip in price, actually.   Can hardly wait for all those holes around Keats' deepest high-grade hole to come in (of which there are many!), as well as the holes around Golden Joint's bonanza hole.  If even one of those zones delivers more of the same, sp will

[AlwaysLong683]

Here are a few possibilities re. lack of assay results: 1) No obligation to Report All Assay Results. Someone please correct me if I'm wrong, but I don't think a gold exploration company is required to report all the assay results they receive via a press release. If this is the case, it may very well be that some of these companies have received who knows how many mediocre results and

[Kewl002]

AL - great post!  It is my understanding that regarding Point #1, management is not obligated to report incredible mind-blowing motherload assays within a specific time period either. As long as the mgmt team ensures that none of the information leaks to the marketplace and no insiders take advantage of the information to the detriment of outside shareholders --- they can hold bonanza level

[AlwaysLong683]

Kewl, thanks for the info. It seems you are implying that companies are not required to publicly-release all assay results (whether they are "mind-blowing", mediocre, or dry) upon receiving them from the assay lab, they can can with-hold this information as long as it is not leaked, but they must eventually release ALL assay results not previously reported when they do decide to issue

[Kewl002]

AL -- no -- I think they can pick and choose which assay results to release as long as whatever is not released is not going to negatively impact external shareholders.I would actually EXPECT that at the exploration stage, the majority of drill holes would be dry until mineralization is discovered and the drill team can focus on a known zone. NFG "seems" to be hitting mineralization on

[megacopper]

  It has been my experience that you are 100% correct Kewl002. An exploration company does not have to release all drill holes. If the drill results are considered to be non material by management to the value of the company they don't have to release them. And it's common practice for exploration companies to highlight the good holes and hide the bad holes down further in the

[AlwaysLong683]

Mega, thanks for your input as well. I didn't think a junior gold exploration-stage company would arrange to purchase or rent their own drills and then try to hire hire drill crews separately. Instead, I thought the gold company hires a drilling company and the drilling company provides both the drill(s) and the crew(s) neeed to operate it, with the gold company and drilling company

[megacopper]

Yes the drills are owned by the drilling company which is a contractor of NFG but they are on-site ready to go. 

[wajac]

I heard the rumour also that Rally is considering moving its business to Gander. Makes sense really as this is where the action is. Literally there is a 'river of gold' cutting through central NL, a distance of about 400 km. Another rumour is that NFG is erecting a 20000 square foot building.This sounds plausible too. The 'river of gold' is a huge area and is most likely a hundred

[wajac]

Please ignore the word 'central' in my previous post. The 'river' enters NL on the northeast coast, passes through central NL and exists in the Grey River area.

[megacopper]

  All true. New Found Gold has purchased buildings and even houses in the Gander region. They have a substantial amount of heavy equipment and new vehicles and ATV's located at the town of Appleton Industrial Park and throughout the property. I honestly could not believe my eyes the last time I was out to the site. It's like a small town out there now with buildings, stop signs

[wajac]

My understanding is that they have, at some point, to release results of core that has been assayed. Also all core is not necessarily assayed. Geologists would determine core to be assayed based on their interpretation of what they see.

[BlindBoy]

Pretty much the case, Kewl.   This is quoted re:SEC, but it is pretty much the same concept in Canada, although it is important for the companies to be aware of the rules of the pertinent provincial/regional authority regulations under which the company is operating. There is no time "schedule" regardling release of information, but there are controls in place regarding "

[AlwaysLong683]

Another possibiliy re. the above comment is perhaps gold exploration companies may be obligated to publicly report all assay results they receive, but not necessarily right away, so they may wait until they get results that are promising, then release the whole lot in a PR with a headline emphasizing these best result(s) in the title of the PR, requiring readers to dig through the document to

[ronreagan]

I think a reporting company is obligated to release the results of ANY drill holes which could REASONABLY be expected to affect the share price one way or the other. I think the time to release is IMMEDIATE, and there are after-hours procedures too. Can A CEO call up a lab and tell them to NOT give him the results until such and such date? Probably ......