New Found Gold Corp V.NFG

Q1 2022 Financial Statements

[AlwaysLong683]

As mega noted, NFG had approximately 100M cash as at Dec. 31, 2021 according to their Q4 2021 financial statements.

Q1 2022 should give us an idea as to how much was spent during the January 1 to March 31 period as NFG did not do an equity raise during this quarter since there was no need for it with the 100M in the bank at the start of the period.

NFG does not seem to issue press releases notifying investors when their quarterly results (Financial Statements and MD&A) have been released, so those interested in this information can periodically check the "Financials" page in the Investors section of NFG's website as the documents appear here when they are available to view.

[Retiredgeo]

They had 106 million as of April.

[AlwaysLong683]

Retired, where did you get this information from....?

[eldreco]

Alwaysshort, The company stated so.  If you want to moan about it...call IR.  They will get back to you right quick...and you can stop with these ridiculous questions. el d

[AlwaysLong683]

eldreco: 1) How do you know the company stated so? Where did the company state this, and is it in writing somewhere (press release, on their website, other?). 2) Asking where a person got his / her information is not a ridiculous question if they don't provide the source. I'm not ragging on Retired, but I think if you state something as a fact ,one should say where they got the

[Retiredgeo]

Cover page of their web site dated April 2022.  It was repeated during their last video.

[AlwaysLong683]

Thanks Retired. Just want to point out the 106M figure is "Working Capital", not "Cash on Hand". Working Capital = Current Assets - Current Liabilities. For example, if you look at NFG's Balance Sheet as at December 31, 2021 (on their website under "Financials"), cash on hand was100M while working capital was 124M, so it makes sense that working capital is now

[megacopper]

  I heard NFG has a burn rate greater than one million bucks a week. Not hard to see with 12 drills turning and 170 employees or more. So they are most likely right around 100 million bucks left in the kitty. Hopefully get some positive drill results soon. The share price has basically been in free fall for a week now but so has everything else. 

[braindeadoldguy]

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