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.

TSXV:NFG - Post by User

New Found Gold Corp > 100 smackers

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Comment by Retiredgeoon Nov 16, 2021 5:14pm

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Post# 34133877

RE:RE:RE:RE:100 smackers

An overly simplistic calculation is:

Number of ozs of gold (X) times (the sale price of the gold minus the cost of the gold) divided by the number of shares = $100/share

We know none of the above but we can throw in some numbers:

Sale price = $1800
Cost = $1000
Number of shares down the road = 200,000,000

Solve for X

X = 25 million

If you assume a 50:50 split between NFG and a buyer then you have to double the number to 50 million.

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