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 > Gold moving higher again today

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Comment by AlwaysLong683on Feb 15, 2022 1:32am

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Post# 34428799

RE:RE:Gold moving higher again today

AlwaysLong683 wrote: The one execption would be rumours of and/or an actual takeover of the company at a signficiant premium to its current share price, similar to what GBR experienced a while ago.

Speaking of which, quite an interesting chain of events at GBR during the latter part of 2021:

GBR was trading at just under 14.00 at the end of September 2021.

By the end of November, it was at around 20.00 for a two-month gain of 43%, seemingly without any jaw-dropping news (at least from what I can tell) which would warrant such a large increase in share price over such a short period of time.

Then, Boom: GBR press release dated December 8 announcing K will acquire GBR for 29.00.

Wonder why GBR's share price was rising so much in the two months prior to the takeover press release? Loads of confidence in operations among the investment community in general that I cannot see? Information leak to certain parties re. the possiblity of a takeout in the near future? Other?

Leaves one wondering if a large increase in the share price over a relatively short time period on news that doesn't seem warrant such a jump means the shares are now overvalued and it's time to take profits, or a takeout is being planned at a signficiantly higher price that no one except certain parties are aware of....?

Not accusing GBR or any other party of foul play, but the above does seem peculiar....

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