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New Found Gold Corp V.NFG

Alternate Symbol(s):  NFGC

New Found Gold Corp. is a Canada-based mineral exploration company. The Company is engaged in the acquisition, exploration, and evaluation of resource properties with a focus on gold properties located in Newfoundland and Labrador, Canada. The Company holds a 100% interest in the Queensway Project, which comprises an approximately 1,662 square kilometers area, located about 15 kilometers (km) west of Gander, Newfoundland and Labrador, and just 18 km from Gander International Airport. The Queensway Project is divided by Gander Lake into Queensway North and Queensway South. The Company also owns a 100% interest in the Kingsway property, which consists of 264 claims on three licenses covering approximately 77 square kilometers. The project is located approximately 18km northwest of the town of Gander, Newfoundland. The Company is undertaking a 650,000-meter drill program on Queensway. It has royalty interests underlying Keats South and several additional zones in Queensway.


TSXV:NFG - Post by User

Comment by BlindBoyon Apr 22, 2021 6:34am
198 Views
Post# 33042971

RE:RE:RE:Sell Lucky Strike Project?

RE:RE:RE:Sell Lucky Strike Project?"it might be a better option than future equity raises to fund continued drilling if the selling price for the Lucky Strike Project is decent" ...

Be realistic. How much cash do you expect to raise by selling a property that has zero resources identified? At this point, it has some "historical" data that looks "interesting". 

That's not the type of asset a major would be interested in (they like to have the juniors establish that there's really a prospective resource being demonstrated by the drilling results. 

Junior companies might buy, but you probably wouldn't get much cash at all up front.  If the sale reached into the low 7 figure region, it would almost certainly be spread into portional installment payments spread over a number of years, plus some shares in the junior. 
So if they "require even more funds as they move forward" ,  how far do you think an injection of less than a $million would take them in "further expanding their operations" ?



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