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 > Nowhere bound.

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Comment by Retiredgeoon Oct 22, 2024 7:50pm

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Post# 36277693

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Nowhere bound.

The buyer doesn't pay tax until the commodity comes out of the ground and is sold. The seller pays tax on the property sold.

You won't find the value of "ore in the ground" on any balance sheet. At best it will be listed in an appendix to the balance sheet.

An undeveloped asset in the ground is worth market value and if the market says NFG is worth $2/share when gold is at $3000 so be it. Any relationship between the spot price and the undeveloped property is sketchy at best.

Bottom line, I'm not surprised that NFG isn't skyrocking with the spot price of gold. If you want to play the gold price buy gold or a producer of gold (AEM is doing very well!).

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