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 > Possible NFG Suitors

<< Previous

Bullboard Posts

Next >>

Comment by AUSTIN48on Apr 23, 2022 11:22pm

167 Views

Post# 34626869

RE:RE:RE:RE:RE:RE:RE:RE:RE:Possible NFG Suitors

They currently have 105 mil in cash and a current burn rate of 5mil per mo.
The burn rate increases once more drills are added.
If the burn rate increases to 7 mil a month with all 14 drills turning that is 84 mil gone in a year.
They will need to raise more cash and the stock will become more diluted.
I personally hope we get a cash plus share offer from a bigger company with deeper pockets.

<< Previous

Bullboard Posts

Next >>

Quantum eMotion leaps by 20 per cent after Becton Dickinson deal