New Found Gold: Sprott-Backed Co. Is Now Trading In The US
Long Only, Gold & Precious Metals, Oil & Gas, Contrarian
Seeking Alpha Analyst Since 2014
With over a decade of experience in the investment industry, I am a highly skilled private investor with a proven track record of success in the commodities and hard assets sector. My areas of expertise include investing in gold and silver miners, royalty and streaming companies, pure exploration companies, as well as oil and gas producers and MLPs. My comprehensive understanding of these markets and my ability to identify and capitalize on profitable opportunities have enabled me to consistently deliver strong returns for my subscribers.
- New Found Gold is now trading on the US OTC under the symbol NFGFF.
- The newly listed company hit an amazing 92.9 g/t gold over 19 meters in its very first drill hole in 2019.
- New Found is backed by Eric Sprott, Rob McEwen, Novo Resources, and management and insiders.
New Found Gold Is Now Trading In The US
Just a heads up that the newly listed gold exploration company, New Found Gold (NFGFF), is now trading for US investors on the OTC.
New Found Gold is exploring the Queensway project in Newfoundland, Canada, which contains 151,030 hectares covering more than 105km. It recently completed its IPO and raised $31.4 million at $1.30 per share, bringing its working capital position to $75 million.
(Source: New Found Gold presentation)
There is certainly a lot of hype around this company as the Queensway project is already drawing comparisons to Kirkland Lake Gold's Fosterville gold mine in Australia, which is one of the best mining assets in the world.
According to the company: "While no two mineral systems are ever identical, there is strong evidence to suggest the Central Newfoundland Gold Belt has many similarities to the Bendigo goldfields in Victoria state, Australia which New Found Gold is using as an early geological model. Bendigo goldfields has produced over 22 Moz of gold over its >150yr mining history "
New Found struck an incredible 92.9 g/t gold over 19 meters in its first drill hole during its 2019 exploration program, and it has planned for 100,000 meters of drilling for 2020/21.
I believe that positive drill results will get the attention of the market, including mid-tier and major gold miners. If New Found Gold can turn this deposit into an economical gold mine with the economics similar to Fosterville, then it has 5-10X return upside.
I plan on releasing full coverage for subscribers of my marketplace service, and I will be following this company closely.
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- Steve Thomas
"Gold Mining Bull"
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