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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 AlwaysLong683on Apr 05, 2023 3:44am
126 Views
Post# 35380310

RE:RE:RE:Where is the additional Value Here ??

RE:RE:RE:Where is the additional Value Here ??I can see the total cost of a mine build being higher than 600M, but I doubt it would hit 1B even taking into consideration current inflationary conditions (which I suspect will subside by the end of this year). NFG's land package is in an excellent location with the Trans-Canada Highway running straight through Queensway from east to west, high voltage power lines running through the project area, and a sizeable town (Gander) within easy commuting distance (15km away) which should allow many workers to live there instead of the need to create a large mining camp. All these advantages should help to mitigate costs.

I agree that corners should not be cut. The mine and mill should suit the size and richness of the zone(s). Do it right or don't do it at all.

As you alluded to, neither Palisades nor Eric Sprott are mine builders, and Palisades' ultimate objective for NFG still appears to be to sell it to one or more miners at a generous premium, which is probably the most likely outcome. However, should they decide to build a mine, experienced mine building personnel could be hired to spearhead the project. My view is you either a) sell the entire company to one or more parties, take your profits, and move on, or b) build a mine yourself. If the economics are good and you hire high quality personnel to put together a sound Feasibility Study, you should be able to get a good chunk of debt financing at reasonable rates (that's right - BANKERS!). If one or more of Newmont, Barrick (doubtful), Agnico,,Goldfields, Anglogold, Alamos, SSR, ElDorado, NovaGold, Equinox, etc. want to obtain NFG, they can bid on the whole company and, if enticing enough, buy it and develop it themselves. That’s my view anyway.....


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