New Found Gold Corp V.NFG

Alternate Symbol(s): NFGC

Metals & Mining Gold

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.

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New Found Gold Corp > So Snidely

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Comment by Snidelyon Sep 27, 2021 6:08pm

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Post# 33928189

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:So Snidely

I combined the AISC with the development costs. I think your $300-400 range for AISC is reasonable. I had $200/oz in development costs factored in. Obviously, as expand the operation and if you can mine multiple zones through a single processing facility, that development cost per oz comes down more and more.

Add in $300-500 per oz in the ground acquisition cost and the major is paying ~$1,000-1,100/oz total cost, while also carrying the tab on the development expenses and bearing most of the risk. That seems reasonable to me. Sure, if gold shoots up to $3,000/oz in the meantime, the numbers change.

But I am not as much of a gold bull as most others are... but that is a much crazier subject that I don't have time to even start on. But the cost per oz in the ground that NFG can expect to receive will vary based on POG, grade, and anticipated cost to excavate/extract.

megacopper wrote:

I agree that for the next year or two NFG should continue on its present path and keep drilling to find outer limits of each jewelry box and find more jewelry boxes. Who knows how many they will find. I'll go along with your 1.5 to 2.5 billion per jewelry box. Sounds good to me. I think the AISC will be lower than that of Fosterville so I'm thinking it will be in the $300 to $400 range because most of the high grade gold is near surface and there will be numerous jewelry boxes that can be mined simultaneously all starting near surface.