New Found Gold (NFGC) Stock News

New Found Gold Corp (NFGC) has successfully closed the second and final tranche of its C$63 million bought deal financing. The offering included 24.61 million charity flow-through common shares at C$2.29 per share and 4.37 million common shares at C$1.63 per share. The second tranche consisted of 9.345 million charity flow-through shares, raising C$21.4 million. Notable investor Eric Sprott maintained his 19% shareholding through participation. The proceeds will fund Canadian exploration expenses at the Queensway Gold Project before December 31, 2026. The offering was led by BMO Capital Markets and SCP Resource Finance LP, with underwriters receiving a total fee of C$526,413.75.

New Found Gold Corp (NFGC) has closed the first tranche of its C$56M bought deal financing, raising C$42M through the issuance of 15,265,000 charity flow-through shares at C$2.29 per share and 4,370,000 common shares at C$1.63 per share. The second tranche, expected to close around June 12, 2025, will raise an additional C$14M through 6,135,000 charity flow-through shares. Notable investor Eric Sprott plans to maintain his 19% stake. The proceeds from flow-through shares will fund Canadian exploration expenses at the Queensway Gold Project before December 31, 2026, while common share proceeds will support project advancement and working capital. The offering was led by BMO Capital Markets and SCP Resource Finance LP, with underwriters receiving a 5.25% fee on general sales and 1% on President's List Sales.

New Found Gold Corp. (TSX-V: NFG, NYSE-A: NFGC) has expanded its previously announced bought deal financing to C$56 million, adding a new hard dollar tranche of 4,370,000 common shares at C$1.63 per share. The offering includes 21,400,000 charity flow-through common shares at C$2.29 per share. Additionally, the company plans a non-brokered private placement of up to 12,269,939 common shares at C$1.63 per share for C$20 million. Notable investor Eric Sprott intends to participate in both offerings to maintain and increase his shareholding above 20%. The proceeds will advance the Queensway Gold Project, with flow-through funds specifically allocated for Canadian exploration expenses to be renounced by December 31, 2025.

New Found Gold Corp (TSX-V: NFG, NYSE-A: NFGC) has announced a significant financing package totaling approximately C$69 million, consisting of two components: a C$49 million bought deal financing of charity flow-through shares and a C$20 million private placement. The bought deal involves 21,400,000 charity flow-through common shares at C$2.29 per share, with an additional 15% over-allotment option. The private placement will offer up to 12,269,939 non-flow-through common shares at C$1.63 per share. Strategic investor Eric Sprott intends to participate in both offerings to increase his ownership beyond 20%, becoming a new Control Person. The proceeds will advance the Queensway Gold Project to development stage, with the flow-through funds specifically allocated for Canadian exploration expenses to be renounced by December 31, 2025.

New Found Gold (NYSE-A: NFGC) reported significant drill results from its Queensway Gold Project in Newfoundland and Labrador. The company announced high-grade gold intersections at the Dropkick zone, including 42.8 g/t Au over 14.95m, 47.6 g/t Au over 3.95m, and 22.9 g/t Au over 2.40m. The Dropkick mineralization has been extended to a 580m strike length and remains open in all directions. A new mineralization domain was discovered east of the Appleton Fault Zone (AFZ), yielding 5.30 g/t Au over 15.20m. At the Pistachio zone, drilling intersected 5.34 g/t Au over 7.30m, extending high-grade mineralization by 40m down-dip. The company has completed its 2024 exploration program totaling 89,974m in 271 diamond drill holes, with follow-up drilling at Dropkick planned for June 2025.

New Found Gold (NYSE-A: NFGC) has announced its participation in three major mining conferences: the Canaccord Genuity Global Metals and Mining Conference (May 20-22, 2025), the Central MinEx Conference (May 13-15, 2025), and THE Mining Investment Event (June 3-5, 2025). CEO Keith Boyle and other executives will attend various panel discussions, presentations, and one-on-one meetings with investors. The company will showcase drill core from its Queensway Gold Project in Newfoundland and Labrador.

Additionally, the company has granted 3,770,000 stock options to directors and officers at an exercise price of $1.67, exercisable until May 13, 2030, with vesting periods between 13 and 33 months.

New Found Gold Corp. (NYSE-A: NFGC) has launched its 2025 work program at the Queensway Gold Project in Newfoundland and Labrador. The program includes four diamond drill rigs conducting infill drilling at Keats West and Lotto zones, with two additional rigs planned for June 2025. The company is focusing on both infill and exploration drilling, particularly at high-priority targets including the Dome and Dropkick zones. Following a Q1/25 initial mineral resource announcement, the company is progressing towards development with a fully-funded PEA expected later this quarter. The program includes dewatering of the Iceberg zone excavation for channel sampling, and plans for bulk sampling in H1 2026. Notable previous drill results from Dropkick include 89.5 g/t Au over 5.85m and 26.2 g/t Au over 16.2m. The company has also engaged Target IR for investor relations services at $8,500/month starting May 15, 2025.

New Found Gold reports significant drill results from its Queensway Gold Project in Newfoundland and Labrador. Key highlights include 38.7 g/t Au over 6.55m at the Dome Zone and 10.3 g/t Au over 8.20m at Keats South Deep Zone.

The drilling program, covering 7,765m across 12 diamond drill holes, successfully expanded mineralization outside the initial mineral resource area. At Dome, drilling revealed high-grade gold at 240m depth. The Keats South Deep Zone showed consistent mineralization between 585m to 800m depth, with six out of seven holes containing visible gold.

The Phase I deep drilling program confirmed the depth potential of Queensway's gold system, with the deepest mineralization encountered at 1,150m depth. The company plans to focus its 2025 drilling on near-surface targets, resource conversion, and exploration of recent discoveries including Dropkick, Dome, and Golden Dome.

New Found Gold Corp. (NYSE-A: NFGC) has announced its initial mineral resource estimate (MRE) for the Queensway Gold Project, revealing significant gold resources. The MRE shows 1.39 Moz indicated resources (18.0 Mt grading 2.40 g/t Au) and 0.61 Moz inferred resources (10.7 Mt grading 1.77 g/t Au).

Notable highlights include 73% of indicated ounces contained in just 24% of the tonnage within mineral resource pit shells, suggesting potential for high-grade starter pits. The project, located in a Tier 1 jurisdiction, features mining-positive government support and access to infrastructure.

The company plans to release a preliminary economic assessment (PEA) in late Q2/25 and commence bulk sampling in H1/26. A 2025 drill campaign is planned for mid Q2/25, focusing on resource conversion and exploration along the project's 110 km strike length.