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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

Post by megacopperon Jul 04, 2022 12:00am
173 Views
Post# 34798524

Gold appears to have stabilized around $1800

Gold appears to have stabilized around $1800

So gold looks fairly solid around $1800 although it could slip a bit more but I think this downturn in gold and gold equities will be short lived and in a matter of weeks it will start to recover. The Fed may only have one more rate hike as the economy is already going into the dumpster.


And watch out if they have to actually lower rates later this year or early next year. If that happens the USD will be dropping rather quickly and gold will be taking off. Personally I think it will happen very soon and the September to December timeframe will see big gains for gold and gold equities.


Higher food and energy prices are taking a toll on the consumer along with higher interest payments so the Fed will have to reverse course quickly as the economy will be in a recession having had two consecutive negative quarters of growth. Our day is coming for a major rally in gold and gold equities. Just a few more weeks of misery to get through and we should see the light at the end of the tunnel.

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