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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 Patient1nvestoron Aug 28, 2024 12:32am
175 Views
Post# 36198827

Patience will be Rewarded

Patience will be RewardedAs an Australian, I owned shares in the company for more than 3 years which was later acquired by Eric Sprott's Kirkland. The company at the time made some money, but not a lot, because the grade was not brilliant before the discovery of Swan Zone. I stayed on because I didn't see anything too fundamentally wrong. And the share prices didn't go up much at all for at least 15 months even after the discovery of high grades after 20 odd years of underground minding. That is market sentiment, which is out of our control, no matter how learned we may think we are in the sphere of mining investment. And when it did go up, it shot up by close to 17 times at one stage. I bailed out at 12 times. In my humble opinion, the NFGC management's long-term vision may not align with the shorter-term view of many of us, but there is nothing wrong fundamentally for the long run. We just need to be patient - the picture we're going to see in 6 months can be very different if we use these oversold dips as an opportunity to accumulate more. I wish I had more liquid assets to go much more aggressively than I have been able to.
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