New Found Gold Corp V.NFG

Burn rate

[LittleWillie]

Financials March 31 15m cash burned in 3 months x 4.33 weks in a month 

$1.15m a week.


Simple.





William

[LittleWillie]

Loss from operating activities (15,457,886) Sorry to see you dont know how to read financials. I thought you were smarter. William

[AlwaysLong683]

Of course they have an operating loss - junior exploration-stage companies don't earn any revenue (check the income statement), or do you only know how to read balance sheets? Name me a junior exploration-stage company that doesn't have a quarterly operating loss?  And I thought you claimed you knew what you're talking about re. gold companies and financial statements....? 

[Buccaneer1s1and]

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[AlwaysLong683]

Then why did you quote a random income statement number that I never mentioned, then conclude from that that I "...don't know how to read financials"...?

[Buccaneer1s1and]

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[AlwaysLong683]

When trying to determine when the next equity raise might be, the more recent the weekly burn numbers, the better.    Mega stated "I know for a fact that NFG's burn rate is one million dollars a week", so he's referring to what the burn rate is presently, not what it was in January or February or March. It was $1.23M per week during that quarter as I calculated in a

[Buccaneer1s1and]

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[Buccaneer1s1and]

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[likeike]

Welcome to the world of buc Alwayslong. Played his game years ago. Put on ignore...you will not win. Earnestness is only stupidity that went to college. IKE

[Buccaneer1s1and]

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[geezer21]

"...junior exploration-stage companies don't earn any revenue" Yes but than again no.  They accumulate resource assets in the ground that are unrealized revenue until convered to cash. The value of those resources do not show up in the accounting until later on.

[Buccaneer1s1and]

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[AlwaysLong683]

.....and what was the weekly cash burn during the months of April through July...?...and what will be the monthly cash burn in August, September, October, etc....?....and how low will NFG allow their cash on hand to be depleted before doing another raise....?

[LittleWillie]

More. They are adding drills. Will

[LittleWillie]

Did I mention that in addition to being a mining contractor for 40 years that I also have a major in accounting along with several business degrees including an MBA and I can read financials. Most here cant. Will

[likeike]

.....and what was the weekly cash burn during the months of April through July...?...and what will be the monthly cash burn in August, September, October, etc....?....and how low will NFG allow their cash on hand to be depleted before doing another raise....? Holy Mackeral AlwaysLong ....they have enough cash for more than a year. When you do any venture who knows how much they will spend or how

[AlwaysLong683]

BTW, I calculate the weekly cash burn during the period January 1, 2022 to March 31, 2022 as follows: NFG Financial Statements dated March 31, 2022: Cash December 31, 2021:  $100,484,576 Cash March 31, 2022:         $ 84,713,594 Thus, cash spent during the quarter = $15.77M Total number of days between January 1 and March 31:  90 90 / 7  =  12.86