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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 DanWarrenon Jan 10, 2024 11:57pm
143 Views
Post# 35820743

RE:RE:Once there was a stock........

RE:RE:Once there was a stock........My understanding is that NFG has a Memorandum of Understanding with Maritime to use their recently purchased Pine Grove mill for toll processing of ore from Queensway.

NFG made a couple million dollar CAD investment in Maritime to facilitate Maritime's purchase of the Pine Grove mill facilities, which are quite impressive.

I don't know all the details of the MOU with Maritime, but I assume there are legal clauses in NFGs arrangements with Maritime that give NFG the right of first refusal to use these facilities. A couple million investment by NFG would seem to make this obvious.


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