New Found Gold Corp V.NFG

How Soon Could NFG start mining?

[DanWarren]

This was a question posted on this board by Rosie 1, yesterday.....now, I don't see that post...removed?....why?

Well, I posted an answer to that post, and here it is:

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My understanding is that by using Maritime Resource's (MAE) Pine Cove processing facilities on the coast of the Baie Verte peninsula in Newfoundland, which is 240 kilometers from Queensway North by truck ( but could also be barged to Pine Cove as it has a deep Water pier as part of the plant), mining could start somewhere in  around one year or somewhat longer.

I believe Denis Laviolette stated this at one point. 

The Pine Cove mill has key environmental permits. But NFG needs some permitting for its mining plans. However, the Newfoundland govt is very motivated to get mining going, and wants to have at least 5 new mines by 2030. So, they would likely be eager to help get NFG jump started ASAP, would seem reasonable. 

NFG has penned a Memorandum of understanding with MAE regarding the processing of Quuensway ore at this facility, and NFG invested around $2 million  in MAE ( maybe it was $4 million).

That plant can process 1400 tons of ore per day.

This is the quickest way to get into production I assume, and could posdibly generate enough profits/ cash flow to cover all or most, or at least much of, NFGs exploration costs and other development costs, and enable loans to be provided for further mine development in the future, I would think.

Starting small scale by open pit mining north Queensway, would also be a sound strategy to  the start of mining operations. I have heard mining experts state that  starting production at a small scale first is a smart strategy.

I believe this is the most logical step to start production ASAP. 

[Dixiedee]

You should try and stop giving the buccs and the bashers and always negative posters a platform this is what your doing when you directly responde to them I have been very guilty of this in the past myself which a few of the good posters here have pointed out to me I have tried to stop doing it but sometime it is hard not to respond to thier negative tones outright misinformation and unrelated

[DanWarren]

Excellent post Dixie. I don't directly respond to the basher......above, I just noted that an innocent post was deleted. I have been the key poster regarding the Short position and the damage they have done over the past couple years, and what their game plan has been and continues to be. When I started on this subject a couple years ago, many pooh poohed my view, saying the Short position

[nozzpack]

If you look at most of the substantial gold discoveries , they end up with finding multiple gold discoveries , each concurrently or sequentially becoming a new satellite mine feeding  common milling facilities . Kimbali, Fosterville and many others in the Red Lake and Abitibi regions provide good examples . Early development to mining of the initial discovery then becomes an efficient way to

[Dixiedee]

as I have said many times before they are advancing many options at the same time but it is premature  to make a decision on if they should start mining the multiple open pit discoveries until they finish or at least substantial finish thier drill program that is guided by the 3D Siemic survey They may even find new richer grade deposits near  surface or enlarge the existing high grade

[DanWarren]

Excellent points by both of you, Nozzpack and Dixie Dee. At some point, in the not too distant future, NFG will be mining North Queensway, if they aren't stupid. My thoughts are still that using Maritime Resources (MAE) mill at Pine Cove will be the most cost effective way to start mining. I think Nozzpack commented some time ago, possibly on the MAE board, that using an outside owned mill (

[Dixiedee]

Dan I think you and nozzpack need to let the professionals the company has hired give us the plan as you both raise some possibilities the fact you both think this is urgent and a do or die situation is a bit ridiculous.They have a plan it's to follow through with drilling guided by the siemic survey to prove the high grade is at depth as the geology suggests once this is done the next steps

[DanWarren]

Well, I appreciate your view, Dixie. NFG mngt has made good progress. But, what if external forces, i.e. a much worsening economic, geo political, and falling stock market were to happen, and seriously impact NFGs ability to raise cash? This last financing already saw a first for NFG, i.e. that the share price AFTER the financing dropped below the price that the private placement investors

[Dixiedee]

This being an el Timon year I don't think we need to get to worried until at least 2025 that bing said they are fully funded to complete thier current program success with the bit wil driv the stock if we prove that there is high grade to depth as the geology suggests the share price will move up and most likely in multiples of where it is now .and many wiould then be interested in getting

[Dixiedee]

It should read this being an election year 

[nozzpack]

An excellent summary of current opportunities and the mounting frustration of shareholders most of whom are now underwater including Uncle Eric . Absolutely nothing is being done by NFG management in terms of aggressive and on point stock promotion . No road shows, no banner ads on SH , no updates of implementation of strategic plans etc. Its as though they are in bed with the shorts, as an

[Dixiedee]

Most gold stocks are down over the last 12 months the glass here is half full not half empty  and The shareholdersi talk  to would like a higher share price but I wouldn't say they are frustrated  some are buying more others are waiting for the siemic drilling results with excitement patience is a virtue we all need some 

[Evenkeel123]

How come you always have long stories and all kinds of excuses.  As someone else posted, you are like a broken record ad nausium.  Give it up already.  When you call headquarters, they only feed you what they want you to know.  You and the illustrious GGG are in the same boat that way.  You think you know something, but in fact what you are told gets your imagination

[Dixiedee]

Oh Bucc give it up own up to who you are and move on with your life  newfound gold is above your skill level to understand 

[toller1]

Ask them how many rigs are drilling! 5 is the answer. Ask them about lay offs coming. 

[Evenkeel123]

Yes toiler, I heard that as well, only 5 in the off-season.  You can talk to some people here until you are blue in the face and all you get is that defensive shilelds up posture, lol.   EK

[Dixiedee]

where did you get the information that they drilled 1 million meters  they just completed thier 500,000 meter program and still have 7000 meters at the lab waiting for results  in dec they announced the additional 150,000 meter program that they say will be guided by the 3 D Siemic survey they have begun this drilling in January they also said they would be drilling to depth also

[Dixiedee]

When newfound gold hired Ron Hampton as chief development officer a man with lots of expertise and experience in mine development and building they got the process started to go it alone or to advance development so someone else could easily take over an ongoing mining development process  That being said I do believe there will be multiple mines here with multiple partners and players