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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 Buccansteinon Sep 18, 2022 6:28pm
111 Views
Post# 34970190

Ziggly

ZigglyI dont expect your attention span can handle more than a few lines so I wont post the entire article. Some of the nvo conclusions Apr 21 2021 Crux: We flag that there are still risks surrounding the value of the project at US$94 million such as: Risks associated with the much higher gold grade attributed to Inferred Resources compared to Indicated Resources. The results of the bulk sampling exercise in 2018 giving a much lower overall grade of 1.88 g/t Au than the block model grade of 3.16 g/t for the sampled sites. The tricky conditions for mining a narrow horizon with gold that is visibly not different from the horizons above and below. The difficulties of preventing substantial dilution mining a narrow horizon under commercial mining conditions. The implication of all of the above to lead to major revisions to the operating cost and further eroding value. We think it is an ominous signal that no further news has been forthcoming from the company since the first gold pour on 16 February, which is now 2 months ago. And here we are 18 months later and nvo is shutting down the mine. Also note that by June or so of 2021 Henry had rode out of Dodge and resigned his previous position and brought someone else in to handle the mess. Mpiky Moik. Yes Man extraordinaire. Bucco
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