Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.

Bullboard - Stock Discussion Forum New Found Gold Corp V.NFG

Alternate Symbol(s):  NFGC

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... see more

TSXV:NFG - Post Discussion

New Found Gold Corp > 321 NFG project PEA
View:
Post by likeike on May 26, 2022 7:14pm

321 NFG project PEA

New Found Gold project PEA The most important project issues are laid out in the attached document. Company website here has the share ownership details. = https://newfoundgold.ca/ THE life cycle of an exploration project reviewed. NOTICE the time frame for the discovery part of the cycle, 2 yrs more or less. https://www.visualcapitalist.com/visualizing-the-life-cycle-of-a-mineral-discovery/ For those that want LOTS more project detail, click on the technical report on the web site, 220 pages.. I agree with Sprott that there is obvious "Potential" for 50 - 100,000,000 ounces eventually, BUT the following economic details are THE killer. I wrote a couple of papers decades ago on "All Gold in the Ground is not created Equal", but so long ago time has wiped them off the net. The work was a multiple page Detailed summary of the industry factors of finding costs, development costs, operating costs on numerous producing properties at the time. I need to preface the following information with a little background. I was taught how to audit ore reserves by my old associate mining engineer a couple decades ago. I had the opportunity to do it on a 40 M. ton 2 gm. deposit in B.C. Canada, with him, and hired a great PHD geostatistical mathematician to evaluate it in house for me. It had 100,000 ft. of drilling done, with a 5,000 ton bulk sample mined out to evaluate the calculated grade. I put four drills on it and did 30,000 ft. of drilling in 30 days for confirmation. In order to make absolutely certain that his computer model was correct, I had the reserves calculated five other times by hand and with other computer guys. We spent $15 Mill. on a bankable feasibility and two foot thick book EIS. Political risk in British Columbia killed it. What NFG is doing with TEN drills and over a hundred people to process the core is the largest most aggressive effort I have ever seen. What the project indicates, but the company cannot say, is what the likely economics are to be, THE MOST important factor! My preliminary economic evaluation, "If the deposit is there as indicated and delineated with exploration, WHAT IS IT WORTH? 1. Open pitting of One Oz. (more or less), *FREE* gold has never been seen, as far as I recall. With no low grade disseminated indicated, *NO CYANIDE CIRCUIT* required. With power and water readily available, and the labor force 10 miles away at Gander, the production issues are non-existent. With no cyanide, permitting is a non issue also. 2. One Oz free gold is thus $1,800 / Ton. 3. Rough estimate of crushing, grinding, gravity circuit cost of LESS than $200 / ton. 4. The open pit mining waste Ore ratio on the Keats deposit, which is initially near the surface, can obviously, eventually be quite large, but initially along with the other discoveries so far, I guess may ultimately over time may be as large as 20 - 30 to One before going underground. Waste rock look's to be cheap, easy digging, maybe no blasting? Predict the price of diesel in Cdn. dollars a few years out??? 5. The first million tons thus will generate an ESTIMATED: 1,000,000 tons X $1,600 / ton = $1,600,000,000 With an initial ten yr. life $160,000,000 / yr. The mineable / diluted / recoverable numbers can of course cut the raw estimate here by 10 - 20%, but the net is still magnificent. 6. There is still $100 Million in the bank, and ten drills running so the momentum for adding more ounces on many more deposits is a certainty!! IMHO. 7. Their professional on site geologists no doubt have the Keats data loaded into a Leapfrog model, so dumping that into an ore reserve calculation program is soon to come. As the economics are assured to be very very good, and CAPEX should be small, an attractive debt financing for CAPEX should be easy, thus no more share dilution. Production will not be an issue, as hiring a contractor for the mining and a crew to run the mill with the Newfoundland workforce nearby is easy. No huge expensive remote camp required!! 8. The Canadian market legally allowed six plus short players to hit the stock almost every day to keep it pounded down off the old temporary high. Accumulation seems to be a good idea. IMHO. 9. ANY stock that has GOLD in its name will be pounded down all summer, but the Gold market has had a dramatic change recently, for the better, so maybe the BIS and pal's pounding it down will get somewhat mitigated by the accumulators? See the red dotted line chart here. https://www.321gold.com/charts/seasonal_gold.html "Be right and sit tight" applies.
Comment by likeike on May 26, 2022 7:15pm
Formatted better here  https://www.321gold.com/pr/052622_newfoundgold.pdf
Comment by likeike on May 26, 2022 7:35pm
Not sure on this puppy but if legit really liked what I have felt that without cyanide heap leach they can still keep cost below $200. Fosterville 2.0 making original look like dinky toy. IKE
Comment by eldreco on May 26, 2022 8:39pm
Agreed - but they will still likely need a cyanide leach pad...there is a lot of mineable mid-grade.  Look at Skeena - now miing "waste rock" at Eskay.  The numbers are huge.  The trick was to simply make concentrate (and ship it out) - and not bother with the expense of a "dore" mill. el d
Comment by likeike on May 27, 2022 9:58am
Come on guys although we do not know authorship, validity nor time this post has so many talking points about the company and forwards us going alone. 321 NFG project PEA New Found Gold project PEA The most important project issues are laid out in the attached document. Company website here has the share ownership details. = https://newfoundgold.ca/ THE life cycle of an exploration project ...more  
Comment by likeike on May 27, 2022 10:01am
Their professional on site geologists no doubt have the Keats data loaded into a Leapfrog model, so dumping that into an ore reserve calculation program is soon to come. As the economics are assured to be very very good, and CAPEX should be small, an attractive debt financing for CAPEX should be easy, thus no more share dilution. IKE
Comment by megacopper on May 27, 2022 4:06pm
  That would be great news for NFG shareholders if they could finance the project instead of issuing a big chunk of shares to raise money. I think there will have to be some future dilution but it sounds as if it will be minimal. Thanks for posting ike. 
Comment by likeike on May 27, 2022 4:47pm
You are more than welcome Mega but tell me what points hit you the hardest. IKE
Comment by megacopper on May 27, 2022 5:01pm
  What I like the most about this project is it won't take a huge amount of money to put it into production and the profits will be huge once it's up and running due to the very high grade ore. NFG will be a great one to hold onto for years and the return should be substantial and the potential for further high grade gold discoveries is very high given the huge land package of ...more  
Comment by likeike on May 27, 2022 5:20pm
Mega Mega and I though you would put a caveat on the report bring up the cost of diesel which I would think you have a more than personal and avid interest in. I would thing that this mine could be operated mostly by electricity. Is electricity priced more favouribly in Newfoundland and lots of it? Quinton Hennings Novo Resources is run by electric vehicles and was impressed with how low ...more  
Comment by rgvgolf on May 27, 2022 6:28pm
RE IKE I urge all people on this site to listen to what Ike has to say, as in my opinion,he is the most knowlegeble  participant on this site .He has multiple years of hands on experience in this business.If I was on the nfg board I would welcome his contributions and would offer him a position along with Mega.When I was in Business my approach was to always hire people smarter than me and ...more  
Comment by likeike on May 27, 2022 7:20pm
Thank you very much for the complement rgvgolf.....I am not sure how to respond. A wealth of information I feel comes from Mega and truly is our man in the field. His sleuthing is diabolical, his contacts are infamous, his long diatribes always  reminds me that a picture is worth a thousand words. If only he would take up  photography. His dad the Rock Doctor keeps him grounded in ...more  
Comment by megacopper on May 28, 2022 4:24am
    Stop it ike, you are making me blush. Lol
Comment by likeike on May 28, 2022 9:41am
Stop it ike, you are making me blush. Lol Realistically Mega no one has ever died of embarassment and although it is hard to quantify the feelings involved I hope you do get a prolongued face flush you will always be a megaton to me. IKE
Comment by AlwaysLong683 on May 28, 2022 8:58am
I still believe approximately 24 more months of exploratory drilling and assaying followed by a takeout to the highest bidder would be the wisest route for NFG to travel. If the best offer at that time is not considered enough to represent full value for what NFG has produced to date re. assay results / lucrative zones, keep drilling and wait for an acceptable offer.   Conversely, the ...more  
Comment by braindeadoldguy on May 28, 2022 9:37am
This post has been removed in accordance with Community Policy
Comment by likeike on May 28, 2022 10:03am
Bdog I will not address all the issues you bring up in this post but for me the only comparison is Fosterville. I was in and out of SBB sometime ago. A totally different project way up the great white north above the 60th parallel. Cold weather gold is infrastructure unto itself and why it takes so long. I had 2 friends that worked in the Lupin mine which was very close to the north pole ...more  
Comment by likeike on May 28, 2022 10:09am
I still believe approximately 24 more months of exploratory drilling and assaying followed by a takeout to the highest bidder would be the wisest route for NFG to travel. If the best offer at that time is not considered enough to represent full value for what NFG has produced to date re. assay results / lucrative zones, keep drilling and wait for an acceptable offer.   Conversely, the ...more  
Comment by braindeadoldguy on May 28, 2022 10:20am
This post has been removed in accordance with Community Policy
Comment by likeike on May 28, 2022 10:22am
Sorry Bdog ....guess I was right ....I could not believe you wrote it. IKE
Comment by braindeadoldguy on May 28, 2022 10:25am
This post has been removed in accordance with Community Policy
Comment by likeike on May 28, 2022 7:05pm
Bdog I guess I have not been angry for a while and that alwaysintellectually challenged post still has me ticked off. Could you please repost the review of epizonal orogenic in the hope  that he is not beyond all hope and understanding and grasps some of its meaning. I put him on ignore so I would not have to see his blather again but when you start comparing apples and oranges you expose ...more  
Comment by braindeadoldguy on May 29, 2022 1:23pm
This post has been removed in accordance with Community Policy
Comment by likeike on May 28, 2022 10:20am
I still believe approximately 24 more months of exploratory drilling and assaying followed by a takeout to the highest bidder would be the wisest route for NFG to travel. If the best offer at that time is not considered enough to represent full value for what NFG has produced to date re. assay results / lucrative zones, keep drilling and wait for an acceptable offer.   Conversely, the ...more  
Comment by likeike on May 27, 2022 5:09pm
New Found Gold project PEA The most important project issues are laid out in the attached document. Company website here has the share ownership details. = https://newfoundgold.ca/ THE life cycle of an exploration project reviewed. NOTICE the time frame for the discovery part of the cycle, 2 yrs more or less. https://www.visualcapitalist.com/visualizing-the-life-cycle-of-a-mineral-discovery/ For ...more  
The Market Update
{{currentVideo.title}} {{currentVideo.relativeTime}}
< Previous bulletin
Next bulletin >

At the Bell logo
A daily snapshot of everything
from market open to close.

{{currentVideo.companyName}}
{{currentVideo.intervieweeName}}{{currentVideo.intervieweeTitle}}
< Previous
Next >
Dealroom for high-potential pre-IPO opportunities