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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 Jun 18, 2023 1:30am
247 Views
Post# 35502193

RE:RE:RE:RE:RE:RE:RE:RE:Keats

RE:RE:RE:RE:RE:RE:RE:RE:KeatsGreat Bear was bought out by Kinross.

Osisko Mining decided to enter into an 50/50 Joint Venture agreement with Gold Fields to develop their Windfall project.

Re. NFG:
Eric Sprott is getting on in years.
Palisades / Kettell still state the following in the "Concentrated Bets" section of their website, with NFG as the only logo shown. LAB and one or two other companies - If memory serves, I think Nevada King and Goldspot (now Earthlabs) where the others - also used to appear in this section, but have since been removed:


CONCENTRATED BETS
 
Palisades builds control positions in strategic assets in top rated jurisdictions.
 
These larger investments are selected on the basis that they will be of interest to larger companies, providing the potential to realize change of control premiums in addition to value appreciation.

In a nutshell, I suspect 2-3 more years of drilling and assaying any and all potential sweet spots at Queensway, followed by a buyout (similar to Great Bear). Unlike Fosterville, NFG has been showing the extremely high grade goods already. Conversely, Newmarket Gold was already mining gold in a rather ho-hum open-pit operation at Fosterville and was in the early stages of the underground leg of their mining when KL bought them out. I don't think Newmarket realized the monster they had underground at Swan and Eagle. NFG has shown spectacular holes near surface, so Sprott / Palisades know going in what they have on their hands and will likley price the company accordingly in any takeout talks.

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