New Found Gold Corp V.NFG

Press release

[Retiredgeo]

Another new gold vein.  The entire Appleton fault zone is going to be a spiderweb of these gold veins.

Once they do their seismic survey and extend all of these gold veins to depth their inferred resource is going to be absolutely huge.

I will be surprised if a buyer emerges.  Narrow vein deposits can be rich and profitable but most mining companies don't want them.  They are opportunities for small and mid-sized companies which want to grow into big companies (the Kirkland Lake model).  I suspect that NFG's mine plan will be NFG's mine plan.

[megacopper]

  More positive news from NFG on the Lotto North Zone this morning. Looks like they will find lots of high grade gold right along the entire Appleton Fault.  You are probably correct in saying most big gold companies don't want these narrow high grade veins however Agnico might want to replace their Fosterville mine with Queensway. Just a thought otherwise NFG will be

[Daisiedee]

Yeah but youre stupid so what do you know. Daisy

[wajac]

And we are not just looking at a small deposit that will be mined out in 8 to 10 years. The entire 100 km Appleton Fault will be mined for decades. And don't forget the JBP Fault that runs parallel to the Appleton Fault. NFG has only scratched the surface on this enormous property. Historical drilling has been minimal. Don't believe the bashers when they say the property has been drilled

[Retiredgeo]

The majors will be going after Snowline.  A huge tonnage, multidecade open pit mine is what they want.  You have a take out play there, when, I can't say.

[Global1966]

When is the seismic survey meant to complete?

[Retiredgeo]

No time line has been given.  What we know can be found at: https://www.youtube.com/watch?v=zIZpsVl7xTM at ~5:45. It is part of the Crescat Beaver Creek series.

[Daisiedee]

Crescat? Isnt that henry? Mr. Misrepresent. Cool. Daisy

[AlwaysLong683]

My bet is NFG keeps drilling for perhaps two or three more years, then gets taken out, maybe before a MRE on Keats / Lotto / Golden Joint / other rich zones they may discover in the interim (as was the case with GBR), perhaps shortly thereafter. With great fundamental infrastructure already in place and the town of Gander just 15km east down the Trans-Canada Highway which can house mining workers

[Retiredgeo]

The majors want huge, multidecade open pit mines with predictable costs, grades and cash flows.  This spiderweb of narrow gold veins has to be mined by underground mining methods meaning costs, grades and cash flow are going to be highly variable.  I just don't see a major being that interested.  Even Kirkland Lake management wasn't all that interested in the narrow vein

[AlwaysLong683]

1) Open-pit, underground - doesn't matter IMO. I suspect majors want low cost, high margin, long life reserve projects, preferably on virgin land where they can mine all the ounces themselves. Majors think long-term and have the money (or can get the financing) to put up the initial costs and early open pit work if it is highly probably that they will hit one or more jackpots at some point in

[eldreco]

Good post, AlwaysLong. el d

[Retiredgeo]

If you are talking about a starter pit I agree.  No one is going to open pit the spiderweb. According to QH he and Eric had to argue over and over again with Kirkland Lake management to stay the course on Fosterville.  Narrow vein mining just isn't popular in boardrooms.  In the end Kirkland Lake management sold out and walked away from narrow vein mining. Don't think of

[AcesAnd8s]

Right. Newmarket hit Swan well before Enry showed up but they dint wanna mine those grades. Gotcha.  Stupid.  Acrs

[DanWarren]

This post has been removed in accordance with Community Policy

[bdog123]

Rumour has it that you have narrow veins in your head.  Is that true?

[bdog123]

I should have clarified that I was posting to you regarding having narrow veins in your head. How can you be so stupid.  Nobody wants narrow veins??  They ran away from it??   I get mail and all I hear is laughter about this post of yours.  Oh man, wake up dude! bdog

[AlwaysLong683]

Yes, of course this is possible, just unlikely in my view. Different views being discussed on this BB provides food for thought and I enjoy interacting with others who post here and reading their perspectives (with a few exceptions of course). Did those KL management types who walked away make the right decision? Don't you think the management and boards of today's major or mid-tier

[AcesAnd8s]

Newbie. Oldie

[Retiredgeo]

I've learned from reading Kitco commentaries that no one can predict the future worth a barrier across a river. Whether NFG is at the helm or someone else this story is going to unfold for a long time to come.

[AcesAnd8s]

Bridge over the river Kwai? "What have I done". They are all stupid on Kitco anyway. Bunch of bitcoiners. 8s

[TheGreekGoldGuy]

Maybe 50 yerars? Right Retired Geo?  Keep dreaming, your nonsense  fits very well here witrh the Buccos.  GGG

[Gangsterme]

What have you been drinking? Retiredgeo is just making comments as he sees things. Unlike you that just keep reposting assay results. Comparing him to Buccos is ridiculous. Quick question for you, what is your mining experience or education? 

[AcesAnd8s]

Thats right. Dont compare Bucc to a surveyor pole holder and imposter:) 8s

[Retiredgeo]

I have so many people on ignore I'm missing this thread.  Anyone who doesn't like my posts can put me on ignore as well.  All's fair!

[eldreco]

Gangster, You disappoint me.   GGG reposting assay results is simply a polite way of trying to insert some sanity in the never-ending snowstorm of Bucc's posts.  If you can't see that I don't know what else to say to you. Retiredgeo is a different matter...i have been reading him for a very long time - and have given him more than a few "likes" on his posts