Next 15 Share Discussion Threads

[stu31] 10/11/2024 20:25

New Found Announces Initiation of Maiden Resource and Preliminary Economic Assessment for the Queensway Project

(TSX-V: NFG | NYSE-A: NFGC)
Vancouver, BC, November 6, 2024 – New Found Gold Corp. (“New Found” or the “Company”;) (TSX-V: NFG, NYSE-A: NFGC) is pleased to announce initiation of work towards a maiden resource estimate and preliminary economic assessment (“PEA”) for the Queensway Project (“Queensway221; or the “Project”;), which comprises a 1,756 km2 area, accessible via the Trans-Canada Highway, 15km west of Gander, Newfoundland and Labrador.

Highlights:

The Company has engaged SLR Consulting (“SLR”) to deliver a maiden resource estimate and PEA, with an anticipated completion date of Q2 2025. The appointment of SLR to deliver a maiden resource and PEA is an important milestone for the Project as it will provide the first assessment of mineral inventory and project economics, including cash flows, NPV, IRR, and payback period.
SLR, including its Mining Advisory Group (formerly Roscoe Postle Associates Inc.), is a leader in Mineral Resource estimation and mining project advisory with extensive experience in estimating gold mineralized systems with recent involvement with projects on the island of Newfoundland, including producing mineral resource estimates, mining studies and National Instrument 43-101 technical reports. SLR’s mining advisory services include geological, mining, metallurgical, tailings, and environmental consulting.
The goals of the resource estimate and PEA are to identify possible project development scenarios and demonstrate the financial potential for the Project. In addition, the PEA will define work programs that will allow the Company to advance the Project.
Ron Hampton, Chief Development Officer of New Found, stated: “We are excited to initiate this study work that will be invaluable to defining our strategic development pathway. We believe the resource estimate and PEA is an important step in understanding the value potential of the Project and will provide the Company with a clear path forward to continue advancing Queensway.”

Qualified Person

The scientific and technical information disclosed in this press release was reviewed and approved by Greg Matheson, P. Geo., Chief Operating Officer, and a Qualified Person as defined under National Instrument 43-101. Mr. Matheson consents to the publication of this press release dated November 6, 2024, by New Found. Mr. Matheson certifies that this press release fairly and accurately represents the scientific and technical information that forms the basis for this press release.

About New Found Gold Corp.

New Found holds a 100% interest in the Queensway Project, located 15km west of Gander, Newfoundland and Labrador, and just 18km from Gander International Airport. The project is intersected by the Trans-Canada Highway and has logging roads crosscutting the project, high voltage electric power lines running through the project area, and easy access to a highly skilled workforce. The Company is currently undertaking a 650,000m drill program at Queensway and is well funded for this program with cash and marketable securities of approximately $35 million as of November 2024.

[simon gordon] 08/11/2024 16:13

NFG discussed at the 53-minute mark:

Vox Markets - 8/11/24

The Exchange with Chris McVey of Octopus Investments

[stu31] 31/10/2024 22:15

New Found Makes New Discovery at Depth With 343 g/t Au Over 2.15m, 40.6 g/t Over 2.20m & 9.51 g/t Au Over 7.45m at “Golden Dome” Zone

(TSX-V: NFG | NYSE-A: NFGC)

Vancouver, BC, October 31, 2024 – New Found Gold Corp. (“New Found” or the “Company”;) (TSX-V: NFG, NYSE-A: NFGC) is pleased to announce the results from 10 deep diamond drill holes including three wedge holes completed at its Queensway Project targeting depth extensions of gold mineralization along the Appleton Fault Zone (“AFZ”) in addition to eight diamond drill holes testing near surface targets adjacent to Iceberg Alley and Keats South. New Found’s 100%-owned Queensway Project comprises a 1,756 km2 area, accessible via the Trans-Canada Highway, 15km west of Gander, Newfoundland and Labrador.


Golden Dome Highlights:

Deep drilling targeting a prospective area between the Golden Joint and Dome zones intersected high-grade gold mineralization over a nearly 30m down-hole interval as demonstrated by several high-grade intercepts with a cumulative length of 11.80m including 343 g/t Au over 2.15m (which contained a 1,230 g/t Au sample over 0.60m core length), 9.51 g/t Au over 7.45m, and 40.6 g/t Au over 2.20m in NFGC-24-2158 (Figures 2-5).
This broad interval of high-grade mineralization with a cumulative length of 11.80m is a new zone called “Golden Dome” and is located within a previously untested gap in drilling that spans a length of at least 500m partway between Golden Joint and Dome. Today’s intercept occurs 200m below existing drilling at Dome (Figures 3 and 5).
These preliminary results suggest that this zone is part of a larger mineralized structural network connecting Dome to Golden Joint having a combined strike length of 750m and extending to depths of up to 375m (Figure 7). Follow-up drilling is ongoing to define this new discovery.

Additional Deep Drilling Highlights:

The Company has also received additional results from its ongoing deep drilling program testing the Keats Baseline Fault Zone (“KBFZ”)-AFZ structural corridor, consisting of both new deep grid holes from surface and through a series of wedges targeting deep mineralization at Keats South.
NFGC-24-2135 testing between the Keats segment of the KBFZ and the AFZ intersected another new high-grade discovery at depth with the highlight interval of 13.7 g/t Au over 4.85m, including 40.6 g/t Au over 1.50m. This interval is located immediately east of the AFZ at a vertical depth of 500m and contains visible gold; it is located peripheral to a broader low-grade quartz vein domain. This adds to the nine deep zones recently announced at Queensway (released July 11, 2024), (Figure 6).
At Keats South, wedge hole NFGC-24-2112-W1 intercepted 23.3 g/t Au over 2.20m at a vertical depth of 645m. This hole was designed to step out from the previously released parent hole NFGC-24-2112 which included an upper zone of 11.0 g/t Au over 2.65m starting from a vertical depth of 585m and a deeper zone of 7.66 g/t Au over 2.70m starting from a vertical depth of 770m (Figure 4).
Overall, the deep drilling at Keats South has identified two broad domains of Au-bearing quartz veins on the east and west sides of the AFZ with similar mineralization characteristics as seen in the high-grade segments of the KBFZ. The wedging program is designed to rapidly step out on high priority zones to better define their extents of high-grade mineralization. To date, the wedging program has successfully demonstrated that the gold mineral system continues to depth and additional drilling work is required to better understand this region of gold mineralization and expand and define the high-grade component.
The Company has increased the number of diamond drilling rigs to eight at the project site with five rigs active at Queensway and three rigs active at its recently acquired Kingsway Project which adjoins Queensway along strike to the north.


Figure 1: Photos of mineralization at Golden Dome at ~493.6m in NFGC-24-2158
^Note that these photos are not intended to be representative of gold mineralization in NFGC-24-2158.

Greg Matheson, Chief Operating Officer of New Found, stated: “Today’s discovery at Golden Dome indicates that high-grade gold is present deeper in the Queensway system. Golden Dome is well positioned in a wide-open area between several major structures including Golden Joint, Dome and Iceberg East with mineralization characteristics akin to those observed at many of the other near surface zones.

“As announced recently on October 24, 2024, the results from the Pistachio discovery at Kingsway show the advancement of scale of the mineralized system made in 2024 at surface, along strike. Paired with our ongoing success at depth, we are seeing a significant increase in the mineralized footprint at Queensway. We have now received results from 21 deep drill holes, leading to the discovery of 11 new zones at depth. Our target pipeline for growth is strong and we recently doubled the number of active drill rigs at the project to more rapidly advance and define many of these new high-grade discoveries.”

[stu31] 18/10/2024 23:09

Eric Sprott On His Biggest Wins (Massive) and Biggest Losses

[wad collector] 12/10/2024 20:29

XD 4.75p next week

[diku] 07/9/2024 07:02

That proves price targets are farcical or there was a hidden agenda to boost price and dump...

[simon gordon] 07/9/2024 07:01

Times - 6/9/24

Next 15 shares slump after agency loses most lucrative client

The Public Investment Fund, Saudi Arabia’s sovereign wealth fund, is said to be cancelling its contract with Mach49, the spin-off adviser


The stock market value of Next 15 has halved after one of the business advisory group’s agencies lost its most lucrative client.

In a short statement, Next 15 confirmed that the largest customer of Mach49, which advises businesses on carve-ups and spin-offs, would cancel its contract at the end of this year and not in 2026, as had been expected previously.

The name of the client was not revealed, but industry sources suggested it was the Public Investment Fund, Saudi Arabia’s sovereign wealth fund. It is thought to have been paying for advice on what it should be doing with the companies it already owns, as well as seeking ideas for new investments. No reason for the contract ending was given. The sovereign wealth fund was approached for comment.

Next 15 had expected to earn more than £80 million in revenue from the PIF contract in its next financial year, which begins in February. When it won the contract in 2022, Mach49 calculated that it would be worth about £300 million in total over the five-year period.

“While we anticipate that the client will continue to use Mach49’s services in the future, we believe it is prudent to materially reduce forecasts for the financial year to the end of January 2026,” Next 15 said in a brief stock exchange announcement.

City analysts took a knife to their forecasts. Caspar Erskine, a technology and media analyst at Panmure Liberum, estimated that Next 15’s profits next year could take a hit of up to 25 per cent. Others suggested a reduction nearer to 35 per cent.

They also trimmed their profit forecasts for the present financial year after Next 15 warned that some of its other businesses were also struggling. It blamed “weakness̶1; in spending by its technology customers, “as well as a reduction in revenues from its public sector clients” for this year’s profits similarly being likely to fall “materially below” expectations.

In response, Next 15 shares tumbled by 398½p, or 48.1 per cent, to 429½p, valuing the business at less than £900 million. Two years ago, just before it made a bid for M&C Saatchi, its rival, the shares were changing hands at three times that price. Jessica Pok, an industry analyst at Peel Hunt, said the share price reaction had been “overdone̶1;.

Next 15 is best known in the City as the owner of MHP Group, which handles the financial communications for dozens of companies listed on the stock market, including its parent. It also owns other consultancies, advising clients on everything from marketing to technology to communications. Next 15’s agencies have worked with some of the world’s best-known brands and companies, including Apple, BAE Systems and Pepsi.

The group bought Mach49 four years ago, with the selling shareholders paid out based on how profitable the agency is between then and January 2025. Next 15 said that the loss of the PIF as a client would reduce the earnout obligation to those shareholders.

However, because the PIF’s contract will endure for all but one month of the earnout assessment period, analysts expect the reduction to be modest. Erskine had thought the earnout would total about $250 million, but he thinks that now it will come down by about $20 million. Other analysts estimated that the drop might be closer to $30 million.

[diku] 07/9/2024 06:58

Aren't they a consultancy company?...they know how to do good write up...

[pugugly] 06/9/2024 13:41

Excellent write-up on Stockopedia - General tone very foggy - Not enough details to evaluate how bad.

[wad collector] 06/9/2024 09:49

They obviously correctly decided it needed an RNS though TU in 11 days. Not showing on the ADVFN news, which is a bit of an omission!

Don't hold many myself but guess it is a hold and hope time. Bet the Peel Hunt analyst is feeling stupid having put a BUY note out with target £11 in July. Not that the other brokers were any better , all seem to be guessing as much as me. But I don't charge anything.

[phillis] 06/9/2024 09:07

Where is the RNS?

[tomboyb] 06/9/2024 08:28

Looking deeper they have has sharebuybacks -

I wonder if they will still follow suit? -

[wad collector] 06/9/2024 08:03

Here is the headline on their company website

"We deliver consistently good results for our investors because we stay true to our principles."

I think they need a rewrite.

Must confess that when I saw the share price down 49.8% I was hoping that I had forgotten about a share reduction scheme.

[tomboyb] 06/9/2024 08:01

Oh dear -

$300mill earn out -

Why buy the equity -

[simon gordon] 06/9/2024 08:01

This was/is a darling of small-cap fund managers.

[74tom] 06/9/2024 07:35

Feb 2022;

"The board of Next 15 is pleased to announce that its wholly owned subsidiary Mach49, the growth incubator for global businesses, has entered into a five-year strategic alliance with a global technology and digital company, currently operating in stealth mode. Under the agreement, they will be tasked with helping create and launch a series of innovation-led, technology-driven, sustainable ventures across the world. Over the term of the contract, total fees including third party expenses are expected to be in excess of $400 million, with revenues in the first year to be approximately $50m. This will naturally increase the earnout payable to Mach49’s equity holders, a revised estimate for which will be supplied in April when we announce full year results."

+

Update re contingent consideration

"Next 15’s subsidiary Mach49, which has experienced significant growth in the last year and is expected to continue to deliver strong growth following a series of recent client wins, has agreed to cap its earn-out at $300m. The earnout is based on the EBIT generated by the business over the period to 31 January 2025 and is payable over the course of 2023 to 2027. The earnout is payable in cash (85%), with the balance in Next 15 shares. We expect the cash element of the earnout to be funded from the cashflows of Mach49. A revised estimate of the expected contingent consideration will be provided in April 2022 when we announce our full year results."

$400m revenue and a $300m earn out, just such a massive red flag.

[pugugly] 06/9/2024 07:35

For a PR company their own PR diabolical - Sends a message to their clients !!!!!!!!!

[74tom] 06/9/2024 07:24

It's what put me off buying this last summer when it fell to 580p. Tried to do DD on the Mach3 deferred consideration it is was just impossible to understand. Literally felt like they had paid $300m for $300m of revenue (without any clue on margin contribution). Today the chickens came home to roost...

[babbler] 06/9/2024 07:15

80m contract loss wiped out 400m off mcap. Seems harsh but that's what happens... Yes I know other factors involved etc.