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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 nozzpackon Nov 02, 2024 1:37pm
120 Views
Post# 36293735

RE:RE:RE:Does the management have ulterior motives to let SP tank?

RE:RE:RE:Does the management have ulterior motives to let SP tank?The last I heard was that the optimization process would take to the end of November.
Subsequently, it commissioning would be effected by processing Approx 100,000 tons of stockpiled ore and gold fines which are now at the mill.

My guess is that it might take between 2 and 3 months to process that ore which yield about 3500 ounced of gold.

Assuming that all goes well, it may continue processing gold tailings from TSF#1 as those are recovered .
My info is that HD mine would resume production around early summer...bootstrapped test mining until
full mining capacity is achieved by exit 2025.

However, grade control drilling of HD is now expected to be completed by exit 2024 which is well ahead of my expectations .,..grade control is the last stage before mining and mining benches are configured.

It would seem, generally , that events are on an accelerated pace since the financing was approved in early Sept.

Hope this helps


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