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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 Tk11455okon Jul 19, 2023 6:11pm
154 Views
Post# 35548852

RE:Palisade discount this is why

RE:Palisade discount this is why Dixiedee, Thank you for the response. I spent a day and a half researching this issue and can't find my paperwork. My best recall is that drilling started in October of 2019 (NFGC-19-01)  and the first four holes were completed in November 2019. The sale of 13.5 million shares by ThreeD Capital, and 4 million shares by 1313366 Ontario Group to Palisades (17.5 million total) was completed either 2 days before or after the completion of the first 4 drill holes. The main jist of my position is that CK was privy to either visualizing the cores or trusted someone who had seen the cores. NFGC-19-01 had 92.86 g/t over 19 meters with one portion of that core having 285 g/t over 6 meters. I don't remember if the other cores had VG or not, but 285 g/t over 6 meters is a lot of shiny yellow stuff. It's obvious that the official assay results were not back at the transaction closing so that's where the "disclosure" question comes into play. NFG reported the first results Jan 28, 2020. I believe ThreeD Capital and 1313366 Ontarion Group filed suit against Palisades, CK, and NFG in March of 2020. NFG was a private company at the time and the board had to approve the sale. CK was and is a member of the board of NFG. One thing I'm really sure of is that ThreeD Capital and 1313366 Ontario Group had no knowledge of all that shiny stuff in the first core(s) or they would not have sold their shares for $0.08 each. NFG went public later that year for $1.30. I have no idea of the disclosure rules and how this will pan out, but tried to cover my bases. Good luck to you. 

Tom K 
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