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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

Comment by Kewl002on Sep 06, 2022 9:05pm
118 Views
Post# 34945383

RE:RE:RE:Sprott

RE:RE:RE:Sprott

[RG - I perceive (based on the last M,D&A) that ES is at the top limit of approved stock holdings without the corporation having to go to all shareholders for approval to allow him to hold more than he already does. My guess is this is similar for CK. ES has been actively shuffling his shares around to "arms length" holders (children etc) in order to meet SEC guidelines.

While it is possible that they could request such approval - my expectation is that they don't need to & are shopping some portion (or all) of the $100M ATM offering to large mining companies that want a working relationship with NFG. I doubt they will accept less than $8.45/share for such a position and it may be higher - regardless of whatever the trading price happens to be.

If someone wants a position they will pay to play. Best they could acquire on daily market is 15-25K shares and even that would start to move the price because volume is so low.

NFG is burning ~$7M/mth and has ~$70M in the bank......not time to panic yet!



quote=Retiredgeo]I have a hunch Eric and friends are going to load up at the bottom.  I have seen it a all before.  I'm not taking any of this daily retailer trading too seriously.  [/quote]
 

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