New Found Gold Corp V.NFG

End of Day Action...!!!

[DanWarren]

I was watching carefully. Everything looked like a set up for a big player to knock the price down again in the last seconds.

The ASK had decent sized ASKS set up 1 cent above the highest bid to BLOCK end of day buying moving the price up much.

The BIDs were not thick at all on either exchange, so it looked like a last seconds sale of 10,000 shares or so could knock the price down 10 cents or so, just like they did yesterday, particularly on the AMEX, which led to a mismatch in pricing between the Venture and AMEX by 10 cents (AMEX price should have been 10 cents higher to match the price on the Venture, as the two prices are ALWAYS in sync).

But, surprize!

I was watching the AMEX in particular. At the last minute there was selling enough to knock the price down all the way from 3.51 down to 3.40...But, then a buying splurge at the last seconds created a print of 3.52 !

So, someone saved the day......hmmmm Erich Sprott?

Some other savy shareholder?

My guess is that the Short Position is desperate to cap this rally, and try to push it down IF and WHEN the rally in gold stops and at least takes a breather.

To do this they are going deeper in debt with more shares sold short. It seems pretty clear that Lil Shorty thinks he has a 'Get out of jail free card' due to their noting that NFG will need more cash in the fall.

But, as Dixie Dee points out, the price of NFG can be quite higher by then, given all the catalysts in view in the months ahead.

Maybe we'll see a 10% or so Buy In by Big Gold?

I'm OK with a small % Buy In at significantly higher pricing. But, I still see the best outcome is for NFG to remain independent.

Don't Sell Out to BIG Gold - BECOME BIG Gold!

Once NFG starts producing gold from North Queensway, say using Maritime's processing mill, cash flow will allow many creative financing options, such as debt financing.......Sprott Investment organization should be able to provide debt financing, I would think.

Using Maritime for processing ore can get mining started quite quickly, I believe Denis Laviolette has said.......I think I recall a time frame of a year or year and a half.

Why has the Short position been so stubborn in hanging on is the mystery. IF they are NOT acting on behalf of some Big Gold firm, they are really taking a huge risk and a very illogical risk/reward ratio in their short position....why?

[Dixiedee]

volume has been way above average on both sides of the border Inalso noticed on the USA  side the ask was all taken out in the last minute at closing it would appear some one or some group may have been acquiring shares to build a position in newfound gold over the last week or so we will not know unless they get over 10. % could be using multiple players to acquire shares I don't believe

[1condor]

Just wow...that is a lot of speculation based on the last 10 minutes of trading on a stock. Maybe you ought to take up daytrading.