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 > NFG royalties

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Comment by LittleWillieon Aug 04, 2022 8:48pm

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Post# 34872889

RE:RE:RE:NFG royalties

AlwaysLong683 wrote:

Retiredgeo wrote: At their current burn rate NFG's bank balance will be exhausted in early 2023. They have two options: A) go the equities markets and pump out more shares; and B) live off the land. If they have hundreds of millions of dollars of gold just underneath their boots (yet to be confirmed) I would rather they live off the land.

I'm all in favour of drill baby, drill but drilling costs money and that money has to come from somewhere. I don't want my shares diluted!

My hunch is a flow-through equity financing in either October or November - at least NFG should be able to get a nice premium on the 20 or 30 day trailing weighted average share price as they pass the tax breaks they can't take advantage of along to Eric Sprott (or whoever purchase the privete placement) who can use them to reduce their own taxes.