Next 15 Share Discussion Threads

[stu31] 18/3/2024 21:17

New Found Gold Delivers Robust Gold Zone at Iceberg with 36 g/t Au Over 16.7m & 34 g/t Au Over 14.7m

[stu31] 04/3/2024 00:54

New Found Gold VP of Exploration Presents at AME Roundup 2024 (TSX-V: NFG; NYSE-A: NFGC)

[johnrxx99] 28/2/2024 06:29

Having looked at this:-



I've decided to hang on for the prelims on about 25 April. An update would be nice.

[ggrantsu] 20/2/2024 09:24

its had a great run...but remember they have all this buyback ammo to use through to april...so should be quite strong support. that combined with knowing performance is strong (in line with last statement) makes me feel this is an ok place to hold my cash.

[johnrxx99] 20/2/2024 07:36

The RSI is very toppy. Decisions decisions.

[tricky red] 06/2/2024 11:47

92,500 buy this morning.

[stu31] 05/2/2024 00:54

New Found Intercepts 27.5 g/t Au Over 7m & 8.69 g/t Au Over 12m at K2, Extends High-Grade to Surface

January 31, 2024
Vancouver, BC, January 31, 2024 – New Found Gold Corp. (“New Found” or the “Company”;) (TSX-V: NFG, NYSE-A: NFGC) is pleased to announce the results from 29 diamond drill holes that were completed as part of a drill program designed to expand on the recently discovered K2 Zone (May 10, 2023) located 725m north of Lotto and 2.2km north of Keats West on the west side of the highly prospective Appleton Fault Zone (“AFZ”). New Found’s district-scale Queensway Project comprises a 1,662km2 area, accessible via the Trans-Canada Highway, 15km west of Gander, Newfoundland and Labrador.

K2 Highlights:

27.5 g/t Au over 7.00m and 3.39 g/t Au over 9.60m in NFGC-23-1729 and 8.69 g/t Au over 12.25m in NFGC-23-1786 were intersected as part of a program designed to extend a high-grade domain of the K2 structure back to surface and occur between 22-43m from surface, with the reported intercept lengths being close to true width (Figures 1-4).
Additional near-surface highlight results from ongoing expansion and definition drilling include 3.48 g/t Au over 25.30m and 22.0 g/t Au over 2.40m in NFGC-23-1783, 6.18 g/t Au over 9.85m and 3.01 g/t Au over 8.35m in NFGC-23-1709, 3.14 g/t Au over 18.45m in NFGC-23-1904, and 19.4 g/t Au over 2.70m in NFGC-23-1993. As demonstrated in the long section below in Figure 4, all intervals occur shallowly above 65m vertical depth and demonstrate strong continuity of gold mineralization across the K2 structure.
K2 is a gold mineralized system made up of multiple structures and crosscutting vein orientations that now spans a mineralized footprint of 490m long x 395m wide. The gold mineralization begins at surface and has been drill-defined down to a maximum vertical depth of 250m (Figures 1-4), where it remains open and untested.
Much of the gold at K2 is found in the “K2 Main” structure, a low-angle gold-bearing fault zone starting at surface that dips 40° to the south and shares a similar orientation to Keats West. K2 Main is made up of a complex network of associated structures forming a mineralized damage zone that averages 65m in thickness (Figure 3). Today’s highlight intervals in NFGC-23-1729 and NFGC-23-1786 both occur within K2 Main.
The mineralization style at K2 consists of a series of stockwork and fault-fill style quartz veins with orientations that parallel K2 Main and crosscut it forming a broad domain of gold mineralized brittle faults. Many of these veins start at surface and additional drilling is required to fully define this network (Figure 3).
Melissa Render, VP of Exploration of New Found, stated: “As we continue to expand and target specific areas within the K2 fault network with the drill bit, the results have strengthened and we have identified multiple domains of high-grade gold in addition to broad intersections of gold mineralization. Located 2.2km north of Keats on the west side of the Appleton Fault Zone, K2 and other significant zones such as Keats West and Monte Carlo demonstrate the strong prospectivity of this package of rocks. Characterized by high-grade gold mineralization starting at surface with a shallow dip, this zone is accessible to explore at depth with minimal meters as it remains open and continues to deliver encouraging results.”

Queensway 650,000m Drill Program Update

The Company is currently undertaking a 650,000m drill program at Queensway and approximately 7,000m of core is currently pending assay results.

[stu31] 05/2/2024 00:51

New Found Makes First New High-Grade Discovery of 2024, Intercepts 26 g/t Au Over 7.65m & 23 g/t Au Over 5.25m at the “Honeypot Zone”

January 10, 2024
Vancouver, BC, January 10, 2024 – New Found Gold Corp. (“New Found” or the “Company”;) (TSX-V: NFG, NYSE-A: NFGC) is pleased to announce the results from 16 diamond drill holes that were completed as part of a drill program designed to test the newly discovered Honeypot Zone located 230m north of Jackpot on the east side of the highly prospective Appleton Fault Zone (“AFZ”). New Found’s 100%-owned Queensway project comprises a 1,662km2 area, accessible via the Trans-Canada Highway, 15km west of Gander, Newfoundland and Labrador.

26.4 g/t Au over 7.65m in NFGC-23-1810, intersected at a vertical depth of 91m, and 23.1 g/t Au over 5.25m in NFGC-23-1931, located a further 100m down-dip, are part of a new discovery called Honeypot that was found along the east side of the AFZ, 230m north of Jackpot and 1.3km north of Lotto. This discovery was made as a result of a follow-up drill program testing a mineralized fault that was initially identified by grid drilling (Figures 1-4).
Gold found at Honeypot is hosted within a primary fault that has been drill-defined over a strike length of 280m and to a depth of 190m. The high-grade domain shows good continuity and appears to strengthen at depth.
Honeypot has a similar east-northeast striking and steeply dipping orientation to the neighbouring Jackpot Zone and ongoing drilling is targeting its expansion along strike and to depth.
Melissa Render, VP of Exploration of New Found, stated: “Our first pass grid drilling reconnaissance program working north of Jackpot intersected a near-surface, brittle fault with characteristics similar to the other epizonal high-grade gold-bearing faults found along this segment of the AFZ. In following this structure to depth, we are finding that Honeypot is delivering encouraging high-grade results over significant widths. There is limited drilling in this area and we are eager to expand upon these high-grade results as we kick off our 2024 drill program.”

Queensway 650,000m Drill Program Update

The Company is currently undertaking a 650,000m drill program at Queensway and approximately 10,000m of core is currently pending assay results.

[elsa7878] 31/1/2024 16:26

Expecting the buyback to have restarted today. Bit odd. Why say you're going to buy back a certain amount of stock by a certain date and then stop immediately....?

[johnrxx99] 29/1/2024 02:21

Agreed: it slipped under the radar after the M&C Saatchi attempted T/O and drifted down in the market malaise. I only found it after doing a market trawl for high growth EPS companies and couldn't believe the figures at first.

Current p/e of 37 will reduce to 11 based on consensus. As alway dyor.

[ggrantsu] 26/1/2024 20:00

so few watching this and unaware of the potential squeeze about to come on here.

the company bought back about 4mm quids worth of shares from october-january...when uncertainty was high and no positive outlook statement had been provided. look at the effect it had...

they are now needing to buy 10mm quids worth in a significantly shorter time period, post delivering a buoyant outlook statement - amidst a wider sector which is performing poorly. unless we have some massive seller in the background, which I think is pretty unlikely, we could have one quite big squeeze being caused over the next 2 months.

[elsa7878] 26/1/2024 08:43

Elsa I didn't know that rule about no buybacks on Moving Day Average figures , guess that helps regulate the system.

Yes. 5 day average close is now around 835. So will be a few days for the average to reset at a level that enables the buy back to continue.
Need sellers or how on earth will they buy back £10 million by the end of April?

[johnrxx99] 26/1/2024 04:28

wad collector - I'm unclear why you can't remember your investment details. Sorry for being negative on your request but the link you posted only shows an old graph going back to April 2022 whereas you say you bought in 2021. Sorry.

I'll certainly update if more general and current news is available for NFG.

[wad collector] 25/1/2024 17:19

Elsa I didn't know that rule about no buybacks on Moving Day Average figures , guess that helps regulate the system. Another good day here. I have to flick back to the old thread to remember what I paid in 2021.
Don't know if johnrxx can put up the top of this header somewhere please?

[johnrxx99] 25/1/2024 15:20

The market certainly liked the update and the lack of noise on the thread is so welcome - only investors rather than bots.

[ggrantsu] 25/1/2024 11:43

always thought it just ludicrous the lack of following here for one of the more interesting and well managed businesses in the UK markets...

even today, trading on a 9% FCF yield (granted that is pre its deferred comp liabilities)...but its a business ran by two men who have their net wealth tied up in the business + some very strong growth prospects. vs. its wider sector peers, performance has been absolutely flawless over the past year.

my guess is institutions will now be realising the price is running away, with a positive outlook now confirmed ; wouldn't be surprising to see them chasing this while the company is on its own mission to mop up £10mm in shares before april. for a stock that sees minimal volumes traded each day...there is a compelling argument to own this now.

[elsa7878] 25/1/2024 11:30

Fascinating.

Near £1 bn company. Up 50% since October. 8 posts on this board in that time! Must be some kind of record....

[elsa7878] 24/1/2024 21:08

But if they are as confident in the future as they say then the share price is still cheap and the forward PE for next year less than 10. If there is top line growth and margin improvement evident in the business the share price could easily be justified well in excess of £10. I think £12 seems realistic. That's only 12.5 x next years earnings.

In the meantime a commitment to buy another £10 million by the end of April means buying something like another 17,500 shares a day (assuming the share
price is relatively stable).

NB They couldn't buy back yesterday as price was 5% above the 5 day moving average. (think that's the rule..).

[wad collector] 24/1/2024 21:00

I like the words robust and resilient.

The buybacks are getting more expensive!

If the market knows that there will be substantial buybacks then the price will rise but risks dropping again after they have finished, I don't like the way that they are not bought with any caution on up days , the increasingly popular system seems flawed.

[mfhmfh] 24/1/2024 11:02

good update today IMHO.

£4.5m of shares bought back so far.

'The Board has decided to continue this policy and has reinstructed Deutsche Numis to acquire up to a further £10m worth of shares by the end of April 2024.'

[johnrxx99] 11/1/2024 08:58

Stifel include NFG in there Tech stock pick for 2024:-

[lageraemia] 30/11/2023 09:14

I think the shar structure, with Eric Sprott and Palisades holding 50% between them. there's a lower chance of a take out and a premium suddenly appearing.

[stu31] 29/11/2023 20:24

I bought it a couple of months back at 6 so you got a better price than me..should be taken out well north of here though although I’d like to know why this is so much weaker than other similar developers such as snowline

[lageraemia] 29/11/2023 08:27

Yeah. I bought a tiny stake in SilverOne Resources a couple of years ago for the same reaons.....Sprott and also Keith Neumeyer have funded that one.

The New Found YouTube channel is very good. Also, Palisades who own a big chunk of New Found sponsor Palisades Gold Radio, which is a top notch podcast I listen to.

How long have you been in this one Stu?