New Found Gold Corp V.NFG

Maiden resource

[Bangor]

Can someone explain to me with all this drilling they can't produce a resource estimate.

[Retiredgeo]

They don't want to.  President Denis Laviolette is of the opinion that "a reserve estimate will be a share price killer and any buyer will just do there own anyways".  They are focused on proving "the regional scale of the deposits".

[hashboy18]

Im just worried that eric after taking massive losses has lost fath in the boy wunder colin?

[Dixiedee]

if he has lost confidence he has a funny way of showing by buying more shares on the last offering hashboy your grasping at straws and have no clue of what is going on  also why would they do a resource estimate while still in the middle of a drill program that money is better spent continuing to drill and prove up the resource to depth once they have completed drilling to depth they will

[Retiredgeo]

NFG is one of the few gold miners in this terrible market able to raise tens of million of dollars and to continue drilling with multiple drills.  That is not a reason to doubt management.

[Flyder]

Apparently, proving the regional scale of gold mineralization is also a share price killer.  Nothing seems to be holding this sp up anymore.  Sigh.

[Retiredgeo]

We both know that the gold mining industry is in terrible shape.  NFG and SGD will turn around with the industry.  When and why that will be I can't say.  $2,000 USD gold is making the majors rich.  Eventually, some of that money will trickle down to take over targets like NFG.

[Global1966]

Is the market still pricing everything at $1600 US gold? The majors should produce bonanza results in 2024 if they are and unless they have forward sold a majority of their production.

[1condor]

Global1966...Your point "the majors" should have bonanza results. That is the only place gold investors should be right now. I have repeated this over and over on this board. Dont even waste your time (and money) on these speculative stocks like NFG.

[Global1966]

Investors yes, speculators no. We prefer stocks that can turn out to be 10x

[eldreco]

Thank you so much, 1condor, for all your efforts to save us from ourselves.  It is always heartwarming to know that someone is making such a personal sacrifice of their valuable time to inform us of the realities of the gold market!  Having read your quote (below), I guess that is why the majority of the major miners sloughed their own exploration teams years ago...because it is, in fact