New Found Gold Corp Stock Price, News & Analysis

New Found Gold Corp. has successfully completed a non-brokered private placement, issuing 5,000,000 flow-through shares at $9.60 each, generating $48,000,000 in gross proceeds. Notably, Eric Sprott acquired the entire offering, now holding approximately 22% of the company's outstanding shares. The proceeds are designated for exploration expenses linked to the Queensway Project in Newfoundland and the Lucky Strike Project in Ontario. This financing enhances the company's capacity for ongoing drilling initiatives, supported by a robust working capital of $140 million.

New Found Gold Corp. announced a non-brokered private placement of 5 million common shares at C$9.60 each, raising gross proceeds of C$48 million. The TSX Venture Exchange has granted conditional approval for the offering, which is set to close on November 24, 2021. The company, which holds a 100% interest in the Queensway Project in Newfoundland, plans to fund a 400,000m drill program with a projected working capital increase to approximately C$143 million upon closing the offering.

New Found Gold Corp. (NFGC) has successfully entered into three royalty purchase agreements, acquiring 100% of royalty interests totaling 0.6% on its Linear and JBP Linear properties. The Company will pay $3.9 million in cash and stock, significantly reducing its royalty burden to just 0.4%. This transaction strengthens the Company’s position in the Queensway Project, which includes key discoveries. New Found is well funded with approximately $98 million in working capital, expected to rise to $143 million following a recent financing.

New Found Gold Corp. (NFGC) has announced a non-brokered private placement with Eric Sprott, issuing 5 million common shares at C$9.60 each, raising gross proceeds of C$48 million. The shares will qualify as flow-through shares under Canadian tax law, with proceeds directed towards exploration expenses at the Queensway and Lucky Strike projects. The offering requires customary approvals, including from the TSX Venture Exchange. Post-offering, Sprott's ownership will rise to 36,601,200 shares. The company anticipates closing shortly after approvals are secured.

New Found Gold Corp. (NFGC) has announced the initiation of assay testing for core samples from its 100%-owned Queensway Project using Chrysos PhotonAssay™ technology. The first shipment of drill core samples from Gander, Newfoundland, is planned for this week, with results expected soon. The partnership with Novo Resources Corp. allows priority access to Intertek’s facilities in Perth, Australia, known for rapid turnaround times. The company aims to enhance assay accuracy and reduce delays in reporting critical drilling results.

New Found Gold Corp. (NYSE American: NFGC) has announced updates on its QA/QC program at the Queensway Project, including plans to implement Chrysos PhotonAssay™ methods for assaying core samples. Independent consultants found lower assay grades from Eastern Analytical compared to ALS, indicating a potential bias, especially in higher-grade samples. The company is initiating two test programs to investigate this issue further. They will also shift to whole-core sampling to enhance accuracy and reduce variability. New Found is in discussions to conduct approximately 20,000 assays per month using PhotonAssay™.

New Found Gold Corp. has announced plans to expand its exploration program at the Queensway Project in Newfoundland, increasing the drill program from 200,000m to 400,000m. Currently, 51% of the initial program is complete, with 24,000m of drill core awaiting assays. The company will increase its drill count from 9 to 14 rigs by early 2022, enhancing core production from 3,000m to 4,700m weekly. A new core processing facility is set to begin construction soon, fully funded by existing capital of approximately $103 million, expected to rise to $150 million after a financing round.

New Found Gold Corp. announces a non-brokered private placement with Eric Sprott for 5 million common shares at C$9.60 each, totaling C$48 million. The funds will support exploration of the 100% owned Queensway Project and general corporate purposes. Following this investment, Sprott's stake will increase to 36,601,200 shares. The offering requires approval from the TSX Venture Exchange and possibly shareholders. New Found currently holds approximately C$150 million in working capital post-offering, indicating strong financial positioning for ongoing exploration efforts.

New Found Gold Corp. has released promising assay results from drill hole NFGC-21-238 at the Keats Zone of its Queensway Project in Newfoundland. The results include an impressive interval of 88.53 g/t Au over 3.35m, positioned approximately 65m below the Keats Main Zone and at a depth of 307m. Approximately 51% of the 200,000m drill program is completed, with ongoing efforts to explore multiple high-grade zones within the Footwall Zone. The company is well-funded with about $105 million in working capital.