New Found Gold Corp V.NFG

Try this again

[knoxt]

RE:RE:RE:Simply Wall Street

 He paid $11.39 not $8.50\

Simply Wall St

Tue, August 31, 2021, 4:21 AM  ·3 min read

 

New Found Gold Corp. (CVE:NFG) shareholders (or potential shareholders) will be happy to see that insider Eric Sprott recently bought a whopping CA$8.8m worth of stock, at a price of CA$8.50

[Retiredgeo]

You are incorrect.  His brokerage paid $11.39, kept the tax breaks and then sold the stock to eric at $8.50.

[megacopper]

  Thanks for the clarification ya ole Rock Doctor 2.0 So I have a question. If NFG gets listed on the AMEX can USA Sprott then buy shares on that exchange and essentially exceed the 20% allowable ownership rule in Canada because those shares would be held by Sprott's US based company. Hopefully I explained that correctly. Thanks in advance. 

[Retiredgeo]

As I understand it Sprott Holdings is Eric Sprott, whereas, Sprott USA is an asset management company holding shares and bullion for clients.  I do not know if Eric Sprott is a client of his own US asset management company???  I suspect that he has a lot of pull with the board and it's American clients. "Look what Eric has done!!"  "BUY NFG! MARKET PRICE!"

[megacopper]

  Thanks. We have got so many well informed posters on this NFG stockhouse site. Let's hope NFG continues to deliver so we can all enjoy the ride together to much higher levels. 

[cyberman]

and we do know that the Sprott Foundation (Canada), a registered charity run by ES daughter and family, that it's possible that they could have been the beneficiary in this pre-arranged transaction to continue their on-going and much appreciated philanthropy (they just gave the Hospital in Huntsville, Ontario $1m recently), again win/win/win. USA implications ? not sure, but if ES is game i

[cyberman]

...in my opinion LOL. [/quote]

[cyberman]

howdy fort knoxt,   ya not to sure about that, the flow through shares can be pretty complicated, and it only allowed for qualified Canadian exploration companies, basically what happens the 4 underwriters purchase the shares (full price paid to NFGC) and immediately donate them to a charity for a tax write of, then the charity immediately sells them to a buyer for cash at a discount (as