New Found Gold Corp V.NFG

500,000 m Drilling Program Should be completed in December

[nozzpack]

• During 2022, New Found drilled 184,911 m of core, employing an average of 14 drill rigs.
• This equates to 3,555 m of core production per week, with significant operating efficiencies experienced in the second half of the year.
• With 319,000 m of drilling completed to date, the company is forecasting 181,000 m of core production during 2023.the company is forecasting 181,000 m of core production during 2023.

[suregold2]

Then what? It will be interesting to see what the next move(s) will be both by NFG, and majors who are interested here!

[TheGreekGoldGuy]

The then what is pretty obvious. NFG will use their newly acquired Seismic targets to keep drilling and intercept more Bonaza grade gold. They have barely begun to explore Queensway. The GGG guesses they will keep drilling for  least  12 more months, while they keep exploring their options. The 316 Bonaza grade inetrcepts should be over 400 by the end of next year.  What a problem

[nozzpack]

At the end of this current massive drilling program, they should have sufficient information on one or more of these shallow discoveries such as Iceberg to make a decision to mine. Time is not risk averse and can be very unkind to those without sustaining cash flows  To just keep drilling , requiring more and more dilution, does not make sense if you have sufficient economic resources to