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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 mjh9413on Nov 24, 2021 3:23pm
129 Views
Post# 34162785

RE:NFG: Sprott creates activity.

RE:NFG: Sprott creates activity.I imagine this is simply a tax reduction scheme for Sprott, hence the significant premium. The CES can be used over two years and that presents a sizeable chunk of deductions for him plus he might get additional tax incentives from Prov and Feds.
Using the price as any kind of valuation metric one might have seen non-FT shares priced about $8 to $8.30 based on other companies' pp's but I reckon, along with the prior lower priced investments he has made NFG, and a two year benefit and hold period, one might suspect $7.50 a good base. So, yes, perhaps today's price is a good re-entry point. JMO.
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