New Found Gold Corp V.NFG

Strong bids at the close

[megacopper]

I'm seeing bigger bids on NFG now than I did when it was below $5 so things are beginning to heat up again. It will breakthrough $10 soon enough. One more high grade intersection and she'll be flying high again. Just a little rest stop here at $9 before heading higher. Incredible high grade gold discovery!!! Investors will be shocked how high NFG will go. This is a once in a lifetime gold system. Not many on the planet like this one. It's big, it's extremely high grade, it's near surface and it's right next to the highway. It doesn't get any better. Enjoy the ride!!!

 

V:NFG Depth by Price @16:00:00

Bid				Ask
Orders	Size	Price		Price	Size	Orders
1	2,000	9.04		9.20	7,850	3
1	700	9.00		9.22	1,500	1
1	10,000	8.92		9.24	5,000	3
1	23,300	8.90		9.25	3,100	4
3	28,450	8.80		9.26	1,600	1

[likeike]

Like you said Mega ...not many on the planet like this one Do you care to gander why? I have found it very interesting the number of detracters that are out there and early on so many saying it is good but not as good as GBR...very puzzling as we have far surpaassed them in my books. So much jealousy(?) that I have seen show up on  other boards. At what price do these turkeys say "

[95Bearcat]

Doesn't matter what the other boards say about NFG. The market has determined that our MC is more than 50% higher than GBR. Having said that, we will soon need some validation regarding the structure and continuity of the ore body and some plan for a resource estimate. This will require a ton of drilling. Every press release has been stellar which is keeping the share price onward and upward

[oldfx1]

This post has been removed in accordance with Community Policy

[wajac]

A resource estimate is quite a distance down the road yet I would think. They are in the early stages of exploration and have only drilled a small portion of Queensway. 

[megacopper]

  Unfortunately I think NFG are still a ways away from any kind of resource calculation. It would give investors a level of comfort knowing there is X amount of ounces confirmed with drill results instead of having to guess. I figure NFG has over 200 holes drilled on the Queensway North property and they must be at least 50 holes behind in assay results. Appears to be a major lag time

[oldfx1]

This post has been removed in accordance with Community Policy

[95Bearcat]

I understand that something 43-101 compliant is a long way off. I guess I would like to be able to see some sections with some sort of continuity you can estimate. I am a little late to the party here and it makes you nervous when the MC is $1.3 billion. Just looking at other exploration companies, you would need about 8 million ounces to cover that. However, there is a very small number of shares

[wajac]

The Queenway is a huge property,115km long  I believe. Given what they have found in the early  stages of exploration the potential is enormous. I know potential has to be quantified by drilling results. It all boils down to how much risk an individual can accept. In the early stages the risk is greatest because at present NFG has only a small snapshot of the property.

[likeike]

How big a snapshot do you think they need wajac? Have you ever seen how small the Swan zone is? IKE

[wajac]

Don't know the answer to that one, Ike. But compared to the size of the property the snapshot is small. Also other companies are just beginning their drill programs. Good results from companies on trend with NFG would be reassuring.

[likeike]

Well Bearcat the uniqueness of this project would lend it to you getting a good grasp of the Swan Zone and its history. It is unbelievably profitable so would not need 8 mill oz to justify share price and as well it is near surface unlike the  Swan zone. There are not any out comparisons really out there but the Swan zone and it is lacking. There is a small float by design and it is only

[megacopper]

  Good post ike. There is so much gold in a very small amount of rock. So once they start producing the profit margins will be huge. It was the high grade Swan Zone at Fosterville that helped drive Kirkland Lake's market cap from one billion to 15 billion. Of course a rising gold price certainly helped. The Queensway property will most likely have several similar high grade zones so

[megacopper]

  I know a lot of guys have questioned the continuity of the mineralization over the last several months, myself included in the first few months. You get an extremely high grade drill intersection and ten feet away you get very low grade. I have consulted several geologists about this phenomenon which has scared away some investors but I have been told that is the nature of these gold

[megacopper]

  Just to add to my earlier comments on the high grade zones. If NFG can prove up 3 of these high grade zones on the Queensway North which does seem possible (already Keats and Lotto Zones) the production can be 500,000 ounces of gold per year from each zone so that's 1.5 million ounces a year in production. So that sort of puts things in perspective. Profit margins are absolutely

[wajac]

Based on the available information it's still an exercise in extrapolation from the known to the unknown. I have no problem as I'm sure everyone here knows that. And it's fun to speculate! As always the drill will tell the tale.