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 > Has anyone noticed the share structure movements???

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Comment by AlwaysLong683on Jun 27, 2022 12:45am

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Post# 34783745

RE:RE:Has anyone noticed the share structure movements???

megacopper wrote: The only thing I can see that would account for that difference would be Eric Sprott's purchase of the Novo shares. So he has bought 8.25 million shares so far and Aug 5th he will purchase the remaining 6.75 million shares. I think Novo was considered an insider but not 100% sure on that one because 15 million shares is just below the 10% threshold of being an insider if not a director of the company. The numbers don't exactly add up either.

mega, you are right about the 10% threshold, but NVO ceased becoming an insider over a year ago (April 8, 2021 - see SEDI) as their 15M shares must have dropped below that 10% threshold at that point.

According to the NFG press release dated April 12, 2022:

Eric Sprott announces that, on April 11, 2022, 2176423 Ontario Ltd., a corporation which is beneficially owned by him, entered into an agreement to purchase 15,000,000 common shares (Shares) of New Found Gold Corp., which will result in an increase of ownership of approximately 9.1% of the outstanding Shares since the filing date of the most recent Early Warning Report......

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