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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 Retiredgeoon Oct 30, 2023 6:22pm
246 Views
Post# 35708240

Cash

CashTheir cash balance should be back to ~$80 million, which pleases me.

If history is any guide the share price is going to tank until the market readjusts to the new normal.  We shall see.

Their constant talk of derisking the KMZ suggests that they are trying to sell the company/property.  Alternatrively, they now have the cash to start a small open pit mining operation themselves.  Further details pending.
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