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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 Gangstermeon Oct 23, 2024 8:49am
108 Views
Post# 36278155

Future is not known

Future is not knownThe value of this property would be calculated by knowing the number of mineable ounces of gold and the cost of mining and refining these ounces. At present we have no idea of either the cost nor the number of ounces. The drilling continues to expand the area with mineralization. At the same time the selling price of gold has increased significantly. Both of these indicate an increasing value, however we do not have an estimate of the AISC so we can not calculate the potential profit. And of course we would have to guess at the selling price of the gold once refined and also the interest rate during all the time from investing in developing the extensive property. This might explain why the stock price is languishing. All that can be said is that the number of mineable good ounces around the world is decreasing and that the amount of money keeps on increasing as countries keep going further in debt. All the gold mined in 2024 I will approximately equal to 50 days of the USA deficit. I believe this property will produce millions of ounces of gold at a profit. No idea of either number.
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