New Found Gold Corp V.NFG

price ceiling

[erieshore]

$9.00 seems to be the lid on the NFG price recently, even on a day like today with bullish gold prices.

Yeah, I know what you're going to say: 'Patience, Erie. You weren't going to see anyway!'

Erie

[Retiredgeo]

Hello Erie: From first principles: 1) NFG has an Epizonal gold deposit(s) at surface. 2) Epizonal gold deposits are among the most profitable gold deposits known to man. 3) An Epizonal gold deposit sent Kirkland Lake Gold from $15 to $70/share. 4) Epizonal gold deposits are very rare and they are not your typical, run of the mill, greenstone       belt gold deposits. 5) Most

[erieshore]

Good summary. I'm holding. As I said, I have no plans to sell. I did think the price would go into the $9 range after the margin reduction and the flow-through shares hit the market. Oh well.  Erie 

[megacopper]

  I agree with you Erie. I thought NFG would have done a little better today as well with much more investor interest with gold having a big up day and with a more positive sentiment towards the gold sector now compared to a month ago. The tide is turning in our favour so the worst is behind us. Onwards and upwards from here. 

[Global1966]

NFG does not have $128 million in the bank. 

[Global1966]

NFG has closer to $70 million in the bank minus what they have paid for expenses since July 1. It's in the recent financial statements

[megacopper]

  Yes you are correct. And about $50 million in equities I do believe for a grand total of roughly $120 million in total. They will get by for the next year just fine at their current burn rate which I heard is approaching $1 million per week. A little bit higher then I would like but hey I guess that is the cost of success when you have 9 or 10 drills turning 24/7 365 days of the year and

[Gafucyouseff]

This post has been removed in accordance with Community Policy

[Global1966]

This post has been removed in accordance with Community Policy

[eldreco]

Global, For a moment, I thought the same thing when I read the report...BUT then realized the Quarterly report was to end-June...the cash-raise (for $57mil) was done in the NEXT quarter (in August)...so look for that rationale then.  Oh, and you are correct, Equities are treated differently to cash (and have their own item line) in these reports. el d

[Global1966]

Cash at bank at 30 June plus $57 million minus expenses since 30 June equals cash on hand today.  My rough guess is between $50 and $60 mill. They can always sell the Investments next year if they need the cash but will need to be careful not to spook the market. Who knows, these investments could double by this time next year

[eldreco]

Global, I don't quite get this...I was merely offering some advice - rather than the blast that you got immediately from that other poster (whose post has now magically disappeared on my screen).  I am not an accountant...obviously, neither are you - but I was trying to help.. So, what's your game here?  You are saying that the cash-raise is Zero-Sum.  Well, that's

[cyberman]

el d,  seems he/she is fairly recent account, most likely just stirring the pot, a real "keyboard warrior" type, in their own mind they are convincing but their game is weak (there was a good episode of South Park dedicated to the subject LOL). they are gonna need a lot more to fool anyone here ! besdies, i think he declared even with the incorrect numbers quoted, that we are

[Global1966]

I was trained to read financial accounts. I am a NFG fan and just want to clarify what financially illeterate people post - like $120 mill in the bank

[Global1966]

It is a pretty recent account because I only bought NFG in May. Best potential gold stock globally. It should get to $50 in a few years

[cyberman]

apology accepted Global1 but  maybe you got your ledgers mixed up or forgot to invert and multiply ? LOL just kidding :) do realize folks that around here live, eat and breathe this company, some rarely even sleep due to the excitement of the potential, not me mind you but just saying, you want honest answers ask honest questions or you may get an earful... good luck, sleep tight, and don&

[Global1966]

All the more reason for those people who eat breathe and live the stock to understand the financial position. And someone saying $120 million in the bank because they heard someone else say it, is completely off course.

[cyberman]

hi Global19, thanks for the reply, here is my understanding, the Fins are dated to June 30, 2021 with numbers attached to them as required by Law and signed off to, the numbers are there in black and white, certified. on August 24, 2021 the Company released a PR stating... "...will have approximately $118-million in working capital post-closing of the Offering." https://newfoundgold

[Global1966]

Hocus Pocus. The numbers don't stack up unless they have offloaded their investments.

[likeike]

Global it is so annoying when you have someone repeat himself with nothing new. Hocus Pocus it is magic .....you disapear when I put you on ignore  

[eldreco]

Global, you have made some quite serious allegations about the company in the last couple of days.  Then you have tried to justify your position by telling us that you are an accountant, specializing in tax law...but failed to acknowledge that you had misread the information provided by the company in their quartrerly report...and tried to fudge your way out of that.  Some tax accountant

[Global1966]

Hey man, check with the company.They will agree with me. You guys don't understand simple accounting terms

[Global1966]

The company's financial accounts are correct, their PR is correct but retiredgeo and anyone else who thinks there is $120 mill in the bank is wrong.

[Flyby1969]

june 15/2021 they had 82 million working capital. Plus 57.5 million raised by flow through shares.

[Global1966]

Working capital is not cash in bank

[Flyby1969]

No working capital is not cash in the bank,however to have cash in the bank they would have to have revenue coming in from sales of some sort,which they do not.

[Global1966]

Read the financial report. The first line under Current assets. It says Cash in Bank. Then add $57 million to that figure.

[Global1966]

And just for clarification, working capital and cash are not the same thing.

[Global1966]

Boy, some of you guys get hot under the collar when someone points out facts. In the original post, retiredgeo at point 7 said NFG, has $120 CAD in the bank.  I say he is incorrect in that statement and it may cause some to think they do have $120 million cash. They definitely do not. Working capital equals current assets minus current liabilities - not just cash

[megacopper]

  Yep I'm hopeful NFG can be a $50 stock within a few years as well perhaps sooner if they can keep delivering those mind blowing drill results. I'm not a fan of putting anyone on ignore because I find everyone has something to offer the group. I'm learning lots as I'm sure you guys are as well. We have got a very knowledgeable group here with all kinds of different

[braindeadoldguy]

This post has been removed in accordance with Community Policy

[megacopper]

  Sure I'll go along with $50 USD. It has a nice ring to it. Of course it's just a guess because nobody knows the eventual outcome. Speaking of going off the rails I did a real funny one last night. I got heavy into the White Russians and had a couple too many out on the party boat. So we were tying up to the wharf (dock for you mainlanders) and I had one foot on the wharf and one

[Global1966]

I am an accountant. A tax specialist. I wasn't having a go at you. Just clarifying my position