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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 Kewl002on Dec 22, 2021 11:32pm
197 Views
Post# 34256980

RE:RE:Year end summation from Sokoman Minerals - pic of barge core

RE:RE:Year end summation from Sokoman Minerals - pic of barge coreGlobal1966 -- I agree SIC seems to be spread far and wide but I see a couple of "potential" reasons -- speculation on my part as I have no insider knowledge.

1) Drill core assays are SO backed up that they cannot get the feedback that they need quickly enough to utilize the time that they have available..ieL  they are keeping busy with multiple projects as none are overwheliming mgmt capability.

2) The Lithium discovery was pure luck with the zone "appearing" to be big in dimension and high grade in quality. If they can define the zone borders and grades QUICKLY than they may be able to monitize the discovery while Lithium is "super hot" and create value that funds more gold drilling. There have been 2 or 3 CDN takeovers in the LIthium marketplace just since this discovery and money is pouring into the sector. Perhaps this is a "use it or lose it" opportunity that they hope to turn into quick cash during the slow assay period.

3) Tim is an explorer and has expressed zero interest in building a mine vs NFG which (imo) has left their options open as to whether they define the resource to sell it or to mine it. So SIC is keeping as multiple projects moving forward in the hope that one or more of them will prove sufficiently feasible to sell same to a mine builder.  Lithium and Moosehead are the most likely possibilities in the near future (2022/23)

Still they do have a lot of moving pieces and this requires a fine balancing act by Tim. Which is why I have asked this BB a few time -- who knows Tim well enough to comment on his expertse and is he really as good as ES has said he is??

I suspect one of the reasons the SP has struggled is because investors understand "what" Tim is doing but not necessarily "why". A good healthy motherlode level drill core would do a world of good for the SIC shareholders -- lets hope the barge delivers!  
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