New Found Gold Corp V.NFG

good for a laugh

[likeike]

@ticketyboo Not sure if anyone saw the write up yesterday on Stockwatch but I posted it below. Your morning chuckle. Interesting take to say the least. See below. Collin Kettell and Denis Laviolette's New Found Gold Corp. (NFG) -- urgently in need of finding some new assays from its Queensway project in north-central Newfoundland -- shed three cents to $5.52 on 170,000 shares. The company has at least a dozen drill rigs churning away on a 400,000-metre drill program, now just past its halfway point, but its last assays came two weeks ago from six holes, and the last results before that appeared two months earlier, and that from a single drill hole. Shareholders long for the days last year when New Found regularly reported one long bonanza-grade hit after another -- news that carried the stock as high as $13.50 in mid-2021. Not to worry, the company's major backer, Toronto mining billionaire, Eric Sprott, continues to keep the faith -- or at least he keeps buying New Found stock. His most recent purchase came early this month when he followed through on completing a two-tranche purchase of New Found shares from Novo Resources Corp. (NOVO: $0.53), a deal arranged in April at a now inflated price. Unfortunately, while Mr. Sprott still appears enthusiastic about New Found and its gold, he is running out of pockets in which to stuff the company's shares. The April tranche of the buy from Novo Resources -- 8.25 million shares at $8.35 per share -- took his holding to 32.85 million shares, a hair shy of the 20-per-cent threshold. The second tranche -- 6.75 million shares at $8.45 -- would have taken him beyond that threshold, but instead, Mr. Sprott transferred a similar number of shares to two unnamed persons, individuals acting independently, Mr. Regulator, and for no consideration