New Found Gold Corp V.NFG

Sell Lucky Strike Project?

[AlwaysLong683]

In addition to Queensway, NFG has a second project called Lucky Strike in the Kirkland Lake area.

Given the outstanding Queensway results to date and the need for more money for future Queensway drilling (which should be their sole focus in my view), I'm wondering if it would be wise for NFG to sell their Lucky Strike asset if the price is reasonable given its location is in the same area where other gold exploration / mining companies are operating.....?

[megacopper]

  Yeah I don't think NFG would get much for that property but it's an option available to them. Right now they have well over 75 million in cash which is plenty to carry out drilling for the next couple years.  And based on the drill results thus far raising more money won't be a problem for these guys. 

[AlwaysLong683]

mega, you could be right about not getting much for Lucky Strike, but I was thinking it might be a better option than future equity raises to fund continued drilling if the selling price for the Lucky Strike Project is decent. In its January 6, 2021 press release announcing their 8 rig, 200,000m drill program, NFG stated: "With this expansion to 200,000 meters of drilling, the revised

[megacopper]

  I think the last news release stated they had 75 million in cash but I'm not sure if that took into account their recent investment in LAB. My guess is they next NFG financing will be with a US resource based fund once NFG gets listed south of the border. Just a guess

[likeike]

Spoken like a true car salesman IKE

[BlindBoy]

"it might be a better option than future equity raises to fund continued drilling if the selling price for the Lucky Strike Project is decent" ... Be realistic. How much cash do you expect to raise by selling a property that has zero resources identified? At this point, it has some "historical" data that looks "interesting".  That's not the type of asset a

[AlwaysLong683]

Blindboy, unlike you, I don't claim to know how much Lucky Strike is worth to a senior producer or junior explorer and/or how much NFG can fetch for it, but here are some points to contemplate: 1) I wonder how much NFG originally paid for the Lucky Strike Project claims? If NFG overpaid, admit your mistake and do what's best for the company going forward.  Nonetheless, whether you

[likeike]

You have now moved up....you now sound like a used car salesman. All exploration and most gold companies always have properties that  have interesting geology. Most end up as just a dream the geos of the company cannot act upon because of money and time. Most exploration companies exist on just 3 to 5 million more. If only we had the money to explore they get the money and it dwindles