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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Comment by eldrecoon Mar 11, 2022 2:10pm

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Post# 34507417

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:New QH video

Good post, Retiredgeo!
el d

Retiredgeo wrote: GBR had a mine. NFG has a mining camp. You are not comparing apples and apples. A mining company will pay a whole lot more for a mining camp than it ever would for a mine.

GBR had reserves and resources of 8.5 million ozs. No AISC was ever released but the global average of $1200 USD/oz probably applies. They received an up front payment of ~$165 USD/oz during an environment of $1750 gold. If you consider just Keates a few years down the road the AISC will probably be ~$700 USD and gold will be worth >$2000/oz. Using the metrics of the GBR purchase we are already talking more than a doubling of what GBR received/oz. Now you have to multiply this by all of NFG's other mines/deposits.

I agree with you that they will be bought up long before they become miners but I don't share your pessimism. Instead of thinking of NFG as the next GBR you should think of the Queensway property as the next Abitibi.

Eric, Pallisades and Crescat are all backed by geologists who are not going to walk away from the next Abitibi for pennies! Eric will leave his shares to his heirs and Pallisades and Crescat can either sit on their shares or spin their shares off into subsidiaries and become silent partners. No one is going to be in any hurry to sell. Neither will I.