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.

TSXV:NFG - Post by User

New Found Gold Corp > Eric also mentioned

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Comment by Retiredgeoon Aug 31, 2024 3:31pm

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Post# 36204176

RE:RE:RE:Eric also mentioned

Mine development is ~1 Billion CAD. The ASIC of the gold is ~$1,000 CAD/oz.

How much they paid per oz depends on what gold figure you use. Please don't forget that they already owned half of the mine. The bought up the other half for $2.16 Billion. Eric says $400/oz. That is as good a figure as any.

None of this applies to NFG because NFG is flogging a property/gold district, not a deposit. We are still a long ways away from any kind of MRE on anything.

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