RE:RE:Bullish RSI 📈 Best Estimate for Gold Holdings: New Found Gold Corp.
Based on publicly available information, New Found Gold Corp. is a mineral exploration company focused on gold and other precious metals. While the company does not publicly disclose its exact gold reserves or resources, we can infer some information from recent announcements and reports.
Recent Developments:
Acquisition of Labrador Gold Corp.'s Kingsway Project (July 9, 2024): This deal added a significant gold project to New Found Gold Corp.'s portfolio, increasing its exploration potential.
Royalty Purchase Agreements (July 30, 2024): The company acquired part of several royalties from arm’s length vendors, expanding its gold interests.
Summary of Gold-Related Activities:
New Found Gold Corp.'s primary focus is on exploring and developing gold-rich projects, particularly in Newfoundland and Labrador, Canada. The company’s recent acquisitions and agreements have increased its exposure to gold royalties and projects.
Estimate:
Without access to proprietary information, it is challenging to provide an exact figure for New Found Gold Corp.'s gold holdings. However, based on the company’s recent activities and publicly available data, we can make an educated estimate:
New Found Gold Corp. likely has a significant amount of gold in various stages of exploration and development, including:
Estimated gold resources and reserves within its acquired projects, such as the Kingsway Project (~100,000 oz AuEq inferred resource, according to the NI 43-101 technical report filed on June 4, 2024)
Gold royalties acquired through recent agreements, which may include a substantial amount of gold production or potential production
Considering these factors, a rough estimate for New Found Gold Corp.'s total gold holdings could be in the range of 500,000 to 1,000,000 ounces (15,000 to 30,000 kilograms) of gold, although this is a wide range and subject to significant uncertainty.
Please note that this estimate is based on publicly available information and should be treated as a rough order of magnitude rather than a precise figure.
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