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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 Kewl002on Aug 06, 2022 12:25am
354 Views
Post# 34875954

Musing thoughts……..on a Friday night…

Musing thoughts……..on a Friday night…

Will this be close or pie-in-the-sky?

1) I was surprised that no announcement on the closing of the second tranche was released today. Not from NFG (was not their news to announce) but from Novo or ES.

2) The lack of PR suggests that it DID close on time and in full or NOVO would have been required to make an SEC material facts statement and there is dead silence.

3) My speculation therefore is that the next announcement from NFG will NOT be assay results but rather a funding raise of ~$100M @ ~$6/share = 17,500 shares totally absorbed by groups controlled by ES & CK. ( ES taking slightly more shares than CK in order to make total share holdings equal).

4) This will create another dead news zone until after the raise closes (relatively quickly).

5) Funds will be allocated to exploration only and may be structured as flow-through (hopefully at a higher price than $6 of course). 2023 exploration (another 400K meters?) would then be completely funded!

6) Followed by flurry of assays as the new Chrysos assay system comes on line.

spring 2023

7)  an "assessment" and announcement of targeted open pit production OR a bulk sample (I think 10K ton is max size/year - maybe someone can advise).

8)  a $200M raise @ +$10/sh for production items after which NFG is self funding.

9) total share count ~200M (which would be VERY) low in relation to others

10) Dore bars by mid-2023 & 15-20 drill rigs running 24/7 

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