New Found Gold Corp V.NFG

Eric Sprott

[seashark00]

New Found Gold Corp. (NFG-X)

Between Oct. 30 and Nov. 2, Eric Sprott, who has an ownership position exceeding 10 per cent, invested over $427,000 in shares of this gold exploration company. He acquired a total of 80,000 shares at an average price per share of roughly $5.34 for an account in which he has an indirect ownership (2176423 Ontario Ltd.). As of Nov. 6, this particular account held 10,392,400 shares.

According to the company’s November investor presentation, New Found Gold represents Mr. Sprott’s largest investment made in his career with investments since 2019, totaling approximately $260-million to date.

[Retiredgeo]

Eric has a 20% personal position with more in an arms length corporation? and more in his daughter's accounts.  He probably controls 30% of the shares. According to the home page, as of Nov 1 NFG had 71.4 million in cash and securities.  29+56-71 = 14 million burn rate in October.  WOW!

[Dixiedee]

I was told he has 33% when you take his estate planing into account that he set up for his adult children 

[Gangsterme]

The seismic contract was ffor 10$ million so this could account for part of the 14$.

[suregold]

He had 31% prior to transfer to daughters. Most likely his daughters have also accumulated  also, so he is most likely close to the 40% I believe he wants to enable Sprott interests to mine with a major at 60% partner. Just my ignorant opinion. So what do I know? FWIW!