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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 > Gold in the ground
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Comment by shiftyoneon Jan 21, 2025 11:37pm
107 Views
Post# 36414527

RE:RE:RE:RE:RE:RE:Gold in the ground

RE:RE:RE:RE:RE:RE:Gold in the ground Another recent acquisition in the area.  Kingsway from LAB.

They are like NFG.... they had no proven reserves.  But a couple of good drill intercepts on trend.
So at $400 an ounce, that would mean they likely figured they had....are you ready for it.  50 000 ounces of gold on that property.  They sold for $20 million.  And that is all that NFG paid.  Why would they sell for that price... or better yet, why would NFG be interested in buying another property that only held 50 000 ounces?

Or do they have a million ounces there and sold at $20 an ounce?  Who knows?

What other deals have happened in the area the last few years?
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