New Found Gold Corp V.NFG

RE:Open pit speculation

[AlwaysLong683]

Retiredgeo wrote: ....All of this near surface mineralization could make for a small open pit gold mine which could send hundreds of millions of dollars into their coffers and fund their 2023/2024 exploration and development programme.

We haven't heard anything from the Keates deeps in some six months.  I'm speculating that an open pit gold mine is superceeding an underground gold mine.

Their cash currently stands at 77 million.

My bet is there is a 0.01% chance NFG has any kind of mine pouring gold in either 2023 or 2024 (I'd say 0%, but I guess anything's possible). Getting financing (where potential creditors want to see a plan laid out with a resource estimate and realistic first pour date before considering a loan), hiring contractors and engineers, sourcing building materials, obtaining all permits from both the Newfoundland and Canadian Governments, etc. - all before NFG can even begin a mine build (big or small, open pit or underground) makes this a fantasy in my view (no offense).

$77M is not solely cash on hand - it's "Cash & Marketable Securities" (i.e., cash plus shares of LAB, NFLD, etc. that NFG owns). Wish NFG actually would just display cash on hand on the Share Structure page of their website. We only get the real deal re. NFG's cash status when the quarterly Financial Statements are released. NFG doesn't post a PR on their website when they release their quarterlies, so I just periodically check SEDAR to get this info. Last year, NFG released their financial statements as at June 30 on August 27. When they do, the cash on hand number will obviously be where it stood on June 30.