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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 likeikeon May 28, 2022 10:09am
92 Views
Post# 34714277

RE:RE:RE:RE:RE:RE:321 NFG project PEA

RE:RE:RE:RE:RE:RE:321 NFG project PEA
I still believe approximately 24 more months of exploratory drilling and assaying followed by a takeout to the highest bidder would be the wisest route for NFG to travel. If the best offer at that time is not considered enough to represent full value for what NFG has produced to date re. assay results / lucrative zones, keep drilling and wait for an acceptable offer.
 
Conversely, the building of a mine will in all likelihood take a number of years and hundreds of millions of dollars from the initial EA and permitting stages to the completion of the mine and first pour. If NFG wants to simultaneously do additional exploratory drilling in other areas of Queensway during this time period, add tens of millions of dollars more per year in costs depending on how many drills they wish to utliize in this regard. Further, what kind of interest rate and inflationary environment will unfold over this time period is another wildcard thrown into the mix that could signficiantly increase original cost estimates

Bdog I cannot even believe you wrote this
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