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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 AlwaysLong683on Jun 06, 2024 11:02am
188 Views
Post# 36075267

My Views On The Current State Of NFG

My Views On The Current State Of NFG
 
Impressive Insider Ownership:
Palisades (Collin Kettell)  27%
Eric Sprott  19%
Institutional / Management / Retail  54%
 
 
 
page 4:
Largest investment Eric Sprott has made in his career:  $260M invested to date.
 
 
My hunch is, with such an enormous, contiguous claims package in Queensway / Kingsway, NFG wants to drill the heck out of all promising target areas to give the market an idea of how much and how long gold may be economically mined on this land. If they put out an MRE on just one zone (say Keats), the market may not appreciate the vast nature of the discoveries being made across the entire property. Perhaps NFG is looking for buyout (like GBR) where they just keep drilling until one or more majors make an offer that provides full value for the company (perhaps two majors partnering to make an offer on NFG, then split the claims between them...?). If NFG was going to go it alone, I think they would've produced an MRE for Keats by now and started working toward a Feasibility Study for a potential mining operation at that zone instead of simply focusing on more exploration drilling /assaying.
 
 
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