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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 Apr 10, 2022 9:27am
165 Views
Post# 34591607

RE:Gold and the Russian Ruble

RE:Gold and the Russian RubleSPROTT MONEY ARTICLE - "RUSSIA PUT IN GOLD"

https://www.zerohedge.com/news/2022-04-08/russia-put-gold

"If Gold is pegged to the ruble at 5000 per gram, that’s equivalent to 156k rubles per troy ounce of Gold. By taking 156k and dividing it by the USD/RUB exchange rate, you get the dollar price of Gold. Assuming the USD/RUB is 80, then 156k divided by 80 equates to a Gold price of 1950. If the ruble goes up in value, i.e., the USD/RUB falls, then Gold should rise in price. For example, if USD/RUB is 70, then the Gold price should be 2229. Whereas if the USD/RUB rises to 90, the Gold price should be 1733.

Right now, the USD/RUB is 75.75, which would put Gold at 2060. But the going rate for Gold on the COMEX is 1930. Perhaps there is a discount given that this regime is new and needs to establish its credibility, or the COMEX is supressing the paper price, whereas the physical metal with premium included is closer to 2060. Either way, I am less focused on the rationale for the difference in price but the direction in which the ruble is headed and its effect on Gold."
 

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