New Found Gold Corp V.NFG

Alternate Symbol(s): NFGC

Metals & Mining Gold

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.

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New Found Gold Corp > Enthusiasm Gains On CEO.CA :)

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Comment by bull_runzon Jan 24, 2024 1:11pm

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Post# 35843297

RE:Enthusiasm Gains On CEO.CA :)

I might have to buy some PALI to cover-my-azz :)

 		@Suregold We are in a strange situation. Yes, the junior gold market is in horrendous shape for last 3 years, but making our NFG unique is we have 2 major investors holding 60% or more of the stock and they each have opposing goals. it is very clear now from ES latest interview that he intends for this to be his LEGACY to his daughters and will be part of the mining of the property with a major. Palisades on other hand has made it very clear that they exist to discover and then sell to a major and then deploy that massive gain into other opportunities. ES average cost is probably around in vicinity of $4 or maybe a little bit less based on his $260 million invested already. Palisades cost is probably very, very low as it is comprised mostly of founders shares acquired in land transfers. They control what happens here and given the above, the question becomes at what share price will they both be satisfied? Another question is what is the relationship between ES and CK? It is going to be interesting to see how a major navigates both of them and gets agreement on a buyout? Speculation is almost useless here as no one at the public market level has a clue of how many ounces they have. Insiders though KNOW or at least have a very good idea of resource status. 
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 		28 minutes ago

 				 
@SuregoldIf BM is anywhere near correct in his statement of 30 million or 50 million ounces then at $2,000 per ounce we are talking rough possible buyout values of between $6 billion and $10 billion based on the historic average of 10% of gold value in ground on buyout. Crazy numbers for sure! And those are US$! Possible, I guess! Can it happen though?