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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 Jul 30, 2024 10:25pm
133 Views
Post# 36155524

RE:NFG is tying up all the loose ends…..

RE:NFG is tying up all the loose ends…..Very Insightful post, Gangsterme.
 
A number of shareholders have pointed this out occassionally... ....that they don't consider NFG to be a speculative stock, but, rather, a safe investment, due to the evidence that NFGs Queeensway project has already been shown to have a lot of gold, just at shallow depths, and that Queensway will be commercially mined. 
 
The current market cap is around $500 million USD. If you assume even a price of $300 USD for each ounce of gold in the ground ( which could be considered quite cheap for high grade gold deposits) for what all the evidence points to as being high grade gold ore, that would indicate that Queensway would only contain 1.7 million ounces of gold......and $500 million USD could be a quite cheap price to pay for high grade gold ore....and there may now already be many times that amount of gold found just at shallow depths on a small fraction of the QW property.......and this is why a number of shareholders have expressed the view that NFG is a quite safe investment....very undervalued, and with huge growth potential as an investment.
 
I think we can assume fairly conservatively that as progess is further shown by NFG in proving up the gold resources NFG has, that the share price will enter a significant uptrend. It may take quite a few more months for thuis to happen. However, the thing with NFG, it could begin very suddenly, as there is always the possibility of very significant news happening for NFG on any day.
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