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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 bull_runzon Oct 10, 2024 9:16pm
100 Views
Post# 36262033

RE:RE:Bullish RSI 📈

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.
 
AI-generated answer. Please verify critical facts
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