New Found Gold Corp V.NFG

Has anyone noticed the share structure movements???

[Kewl002]

Just curious if anyone else has noticed the following or looked into it.

As I recall --> Several weeks ago the Corp Presentation was showing ES with 31% and CK with 31% and insiders with 3-5 % which left the available float @ 32-34% or ~55M shares.

It now shows ES with 29% and CK with 31%, Insiders 1% which leaves available float @ 39% or ~64M shares.

We know that ES has been moving shares into familiy trusts etc but it doesn't make sense that this paperwork process would lower his % share control (or would it?). If you move shares into a trust does it remove them from "insider" status and into free float status??

Likewise Quentin got a sweetheart deal and sold 100K shares but that's a miniscule % (.0006) and should not have dropped the insider holdings from 3-5% down to 1%. There have been no major insider trades reported that would justify such a large move --- so it must be a correction due to mathematics.

Does this mean also mean ES gets to buy another 2% of the free float in order to stay even with the CK position. One would assume they have a written or genlemans agreement to keep their positions roughly equal in % terms. 

Anyway -- Curious if anyone has been following this and/or has any explanations?

(Yes I could ask IR but thought I'd try here first as it's only a general knowledge question and not really worth asking our HQ team to spend time putting together an official explanation.

[Dixiedee]

Quentin shares where sold to another share holder that is on the board so nothing there should of changed  I don't believe Eric reduced his holdings just how they where held 

[megacopper]

  The only thing I can see that would account for that difference would be Eric Sprott's purchase of the Novo shares. So he has bought 8.25 million shares so far and Aug 5th he will purchase the remaining 6.75 million shares. I think Novo was considered an insider but not 100% sure on that one because 15 million shares is just below the 10% threshold of being an insider if not a

[AlwaysLong683]

mega, you are right about the 10% threshold, but NVO ceased becoming an insider over a year ago (April 8, 2021 - see SEDI) as their 15M shares must have dropped below that 10% threshold at that point. According to the NFG press release dated April 12, 2022: Eric Sprott announces that, on April 11, 2022, 2176423 Ontario Ltd., a corporation which is beneficially owned by him, entered into an

[likeike]

Everybody made a big deal about NVO selling out to ES and QH selling most of his  personal shares but very really he is just holding true to his mantra.He believes in growing by the drill bit and is a true explorer at heart. It is also why crescat has NFG not longer in its top 10 holding. WE ARE NOW A MINER by all rights. We may be exploring like crazy with all the drilling we are doing

[Kewl002]

LikeIke -- interesting observation!

[AlwaysLong683]

Kewl, On April 14, 2022, Craig Roberts resigned as CEO, was replaced by Collin Kettell, and thus ceased being an insider. He holds 450K shares in direct ownership, slightly over 1M shares in indirect ownership in a company called "Flotsam Cove Holdings Limited", and an additional 700K shares in an RRSP - all acquired in the year 2020 (source: SEDI), so this may explain at least a

[megacopper]

  Something just occurred to me. Over a week ago on a Friday we figured over 400k shares were traded late in the day. Perhaps Craig Roberts sold 450k shares 

[likeike]

Something just occurred to me. Over a week ago on a Friday we figured over 400k shares were traded late in the day. Perhaps Craig Roberts sold 450k shares  Yep Mega would not surprise me if Craig went all into ppp (he probably also  takes vitamin P). Finally drilling on best property out there to also probably have epizonal orogenic IMHO IKE