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 > Sprott Mining Inc. - Likely NFG Acquirer....?

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Comment by AlwaysLong683on Jun 11, 2022 7:22pm

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Post# 34749640

RE:RE:Sprott Mining Inc. - Likely NFG Acquirer....?

Retiredgeo wrote: Sprott mining is Eric Sprott's personal corporation. He is president and owner. It's a way for him to be engaged in high risk mining projects without jeopardizing his wealth outside of the corporation.

It is not a mining company and cannot do anything with Queensway other than own it.

I agree that eventually he will command a majority ownership.

I doubt that Palisades is in any hurry to sell.

Sprott Mining Inc. appears to indeed be a mining company.

1) The word "Mining" is right in the name of the company.

2) The text on its website specifically states the company is ".....focused on acquiring, building and managing a diversified portfolio of producing mining assets in North America."

I agree Palisades is likely in no hurry to sell given where the share price sits at today. As I've stated in previous posts, I'd like to see NFG continue to drill and assay for approximately another 24 months in the zones / areas at Queensway where their personnel believe have the most potential for knockout cores, then look for a buyer. Since they will in all likelihood not be able to gain shareholder approval for a takeout without Sprott's votes, Sprott Mining Inc. would appear to be the likely acquirer should NFG be taken out at some point.

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