New Found Gold Corp V.NFG

Why is NFG not heading towards a mine ???

[Frozengoldwaiti]

Back to this one. with a new twist.

  The recent  drill results from Iceberg would have moved a small junior 100%.  The additional Keats west hits are not going to stop. Yet the value of the company is not moving. There may be larger interests looking at this.

The idea of waiting for a major to steal the project is getting old and is not moving the stock price up. In fact it is keeping it down. This tiny Gold mining sector is at the mercy of the big money. NYSE Where a couple of hundred million is a daily cost of doing business. If they want the price down it is not beyond them to do it.

Will another $300 million of  addional drilling move the stock price up?  It would get a mill happening. A small open pit at keats would be the the way to ensure the future wealth remains with the shareholders.  

Sorry, but it looks like Collin and Company is going to give this away to big funds.   Watch out, Skeena has killed their valiue to the shareholders in the same way. 

What an rearkable  resource to be gven away to some hedge funds in NewYork. And leave New Foundland with basicaly nothing. It reminds me of Hibernia and  Alberta, 50 years of production and still broke. All of the real wealth went away. Norway has done a better job of keeping some of the wealth from their resources.

I am just musing here, and have made some gains on this stock. At the start  and on the recent upswing. Nothing major but it kept my portfolio above water when everything else was back peddling.

[Global1966]

Sprott has invested $200 million plus. He wont  just give it away. And why do they have Ron Hampton on board? I think his expertise is mine building.

[Retiredgeo]

It is heading towards multiple mines.  They are still in the grass roots exploration phase.

[snooker1797]

how much more driling do you think they need to do to reach  a decision ? another 200k meters or more?

[Retiredgeo]

I suspect that once they drill Keats West into a multi million oz gold deposit that will be the catalyst for a mine decision at Keats West.  It will take millions of metres of additional drilling to cover the Queensway property.  At some point exploration has turn into development.

[Dixiedee]

This land package is massive and they will be multiple mines on property plus exploration will continue for many many decades this will become a generational mining camp with multiple mines throughout this property with continuous exploration and drilling as the mines operate 

[Gangsterme]

This scenario is likely the eventual outcome. Keep in mind that the approvals for the seismic work is for 48 square kilometres. At 3 km wide that would. Over 16 kms or 10miles long. How many new mineralized zone remain to be found? And, this is not even all of the claimed property.

[snooker1797]

does anyone know how many shares have been sold under the ATM project?

[Retiredgeo]

The details can be found on page 17 of the Q1 2023 Condensed Interim Financial Statements. As of Dec 31, 2022 they had sold 500,229 shares through the ATM at an average price of $5.10 CAD.

[Dixiedee]

Nfg went down with all the other gold stocks when gold corrected ( it is still up roughly 50 % from its 52 week low ) NFG has a massive drill program going on has just started the 3D siemic survey until the survey is complete and some drill results come in based on using this new tool many are sitting on the sidelines but if early success comes in like a lot of of believe it will from using the 3D

[Evenkeel123]

A breath of fresh air has arrived.  Excellent!   EK