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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
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Post by CliffBootheon Nov 10, 2022 7:24pm
118 Views
Post# 35090125

Sedar statements

Sedar statementsSep 30th 3 month burn: $23 m.  Cash less payables $50m


Note 14 : 3D lawsuit:  The action has now progressed through the production of documents and oral examinations for discovery stages. In early 2022, the Plaintiffs formally amended their statement of claim to increase the amount claimed to $229,000,000 and to advance a direct claim of oppressive conduct against the Company. While continuing to deny any and all liability to the Plaintiffs, the Company has amended its defence to include specific denials of the new allegations of oppressive conduct against it. As a result of the amendments, the Company anticipates that further discoveries will be necessary. The outcome of this claim cannot be determined at this time and therefore no amount has been accrued for.



ATM Program

Subsequent to September 30, 2022

346,829 common shares of the Company were sold under the ATM program at an average price of $5.12 per common share for gross proceeds of $1,776,864


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