New Found Gold Corp V.NFG

Cash

[Retiredgeo]

Their cash balance should be back to ~$80 million, which pleases me.

If history is any guide the share price is going to tank until the market readjusts to the new normal.  We shall see.

Their constant talk of derisking the KMZ suggests that they are trying to sell the company/property.  Alternatrively, they now have the cash to start a small open pit mining operation themselves.  Further details pending.

[suregold2]

I hate flow thorughs. Stock will be down tomorrow and next few days also once hold period is over we will get selling big time of shares. As for selling property CK has been 100% transparent on his desire to exit via sale to a major at big premium since day 1, so should be no surprise to any shareholder. ES is another matter entirely. His average cost is way higher than Palisades, and my guess is

[bull_runz]

It's good that it was priced at C$7.25 per share though, right?  

[AfterTaxMorons]

This post has been removed in accordance with Community Policy

[Dixiedee]

They sold shares at a 22% premium to todays close I would say that's a good thing  now if they create more value than they received in cash then it's a double win and so far they have been able to create value by finding more zones now they are continuing to find more gold while derisking the project  I still believe they will have multiple deals and this massive land package

[SkipperT]

Yes, dont they normally sell at a discount and drag the value down?

[Flyby1969]

This post has been removed in accordance with Community Policy

[Dixiedee]

I agree this is a good thing also on this billion dollar company this financing only represents 1/2 a % of  its value this is a perfect play with awesome timing looking forward to get drilling to depth and possibly  opening up an open pit mine of our own many plays at work here no standing still and hoping we are moving forward