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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 > Not a bad day
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Comment by AlwaysLong683on Jun 16, 2022 5:59am
162 Views
Post# 34760397

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

RE:RE:RE:RE:RE:RE:RE:Not a bad day
Kewl002 wrote: The company has ~$90-100M cash (depending on burn rate)but more $$$$ are not needed until 2023. 


According to their website, NFG has a total of 87M in Cash plus Marketable Securities (i.e., shares and warrants in LAB, NFLD, NVO and Long Range which I believe is a private company).

However, this 87M figure has been on the webpage for a while now, so I suspect the combination of ongoing expenses, no new equity raises, and the decline in value of the marketable securites since the last time this figure was updated likely means that it's now signficantly lower than 87M, Still, I suspect NFG has enough money to cover their expenses until late in 2022 if not early 2023, but shouldn't let their cash on hand run down too low before initiating the next equity raise - otherwise, they may be forced to do one in even less attractive circumstances. Really need a shot in the arm re. share price appreciation before the next raise.....
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