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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 Jun 16, 2022 1:58am
153 Views
Post# 34760320

RE:RE:RE:RE:RE:RE:Not a bad day

RE:RE:RE:RE:RE:RE:Not a bad day I think it may also be wise to ensure that we are in sync with the objectives and timeframes of KC and ES. The company has ~$90-100M cash (depending on burn rate)but more $$$$ are not needed until 2023. 

Corporate control is rock solid with only a small float for public consumption and KC / ES  are surely evaluating options. While we are "guessing"what those might be, ES seems to be making moves to ensure his children are positioned to manage his family stake in NFG for years to come (Sedi)..

In order to maintain control and minimize distractions (ie: avoid a friendly or unfriendly bid) before they have gathered enough information, I would hope they hold off on items like N43-101's while completing as much drilling as possible. The more information they have before "the big boys" get involved the higher the exit price OR the better their potential for ignoring the majors completely and mining this motherload ourselves. 

So - maybe - KC/ES are OK with the current pace of news releases and the momentum building process underway.

Every PR has had bonanza grade assays to keep retail satiated (regular reminders that this is real) 
but not enough to attract hardcore interest from majors. (Per GGG's summaries)

Hold off on skyrocketing news until it means something in the grand scheme. Until then drill 24/7, complete the team building process while still crossing t's and dotting i's.
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