New Found Gold Corp V.NFG

Booooo.....

[AlwaysLong683]

Exerpt from OSK's press release today:

"Osisko Mining Inc. (OSK:TSX).....is pleased to announce it has concluded a 50/50 joint venture agreement with a subsidiary of Gold Fields Limited for the joint ownership and development of Osisko’s Windfall gold project, located in the Abitibi greenstone belt, Urban Township, Eeyou Istchee James Bay, Qubec......."

Not surprising OSK share price was down sharply this morning on heavy volume while gold stocks in general (both producers and eplorers) were up substantially.

[AlwaysLong683]

I'd like to see NFG pursue one of two options after 2-3 more years of drilling and assaying at Queensway:   1) Sell the entire company to either a single major or perhaps two majors if the zones are plentiful enough at that time. If two majors band together to purchase NFG, it may be a deal similar to the Yamana takeout by PAAS and AEM. In that case, PAAS purchased YRI in its

[itsjustme1]

The problem is how many shares are we going to have out by then? NFG will need to do another raise by fall.

[Retiredgeo]

The current burn rate is ~5 million/month.  They currently have 12 months of financing on their books. As long as the share price remains high the dilution of another raise will be minor. As long as the money raised is turned into metal value in the ground the number of shares is a non issue.

[Dixiedee]

I totally agree if they create more value with the money they would collect from another offering then it is a non-issue the shares that would be issued.

[Dixiedee]

If a major comes in it could be that they spend x # of dollars to earn in options issued at a certain price  on completion of spending so many dollars on the next drill program lots of ways to structure Iam sure Eric and the crew have a plan to advance the project and a few possible ways to structure it to create value for all 

[Dixiedee]

Once the 3D siemic survey is complete and analyzed whatever drilling dollars they have left at that point I would guess that drilling would be focussed on the information from the 3D siemic  survey which should enhance the chances of finding even more or even better grades or telling them ware they can drill to depth with a great probability of finding more gold possibly at iceberg or in

[Global1966]

I think the seismic survey will be used to raise more funds. I thought we would get news around July or August re the survey but retiredgeo says he is not expecting anything till year end. By then they will need more funds for further drilling

[Retiredgeo]

I'm not expecting the full data set until years end.  Major structures will be quickly announced.  It all boils down to crunching the numbers and massaging the data and having the confidence to release the nitty gritty details.

[Dixiedee]

According to Eric Sprott comments the siemic survey will be completed in July and results analyzed by end of September this timing should come when they still have 6-7 months of drilling funds left to prove  up the survey