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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 13, 2022 1:40am
207 Views
Post# 34599116

RE:RE:RE:Theory Re. Eric Sprott Purchase

RE:RE:RE:Theory Re. Eric Sprott PurchaseToday's announcement also minimizes (probably eliminates) any unique senior miner or institutional investor from obtaining a sizeable percentage of NFG shares without being forced to purchase them from the 30% remaining free float that is primarily held by retail shareholders.

Today locks in and protects the decision making process (which I would summarize as Colin and Eric will make all decisions) regarding future direction, ie: whether to double the drilling again, when to do a resource estimate, do they sell at auction or build a mine as well as a many more options.

The maximum ownership that anyone could (theoretically)  purchase is that 30% free float and the price would have to be a lot higher before retail investors are going to consider selling shares. 

This has the potential to be one hell of a ride!

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