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New Found Gold Drilled a Hugh Hole as a Private Company

New Found Gold Drilled a Hugh Hole as a Private Company

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This article was originally published by The Gold Report

Source: Bob Moriarty for Streetwise Reports   08/20/2020

Bob Moriarty of 321gold profiles a company with some prominent backers that began trading just in the last 10 days.

We are in the correction that a few people accurately predicted. My gut tells me it will go into September but since the DSI predicted the top, I think the DSI will call the bottom. We have not had an all time high in either gold or silver but we did have something investors can trade.

I’d like to point out something important to investors. Liquidity is a giant hint as to what you should do if you actually want to profit. Two or three weeks ago, liquidity was off the charts and I was suggesting investors consider taking some money off the table. The mere fact that you can either buy or sell in quantity is a clue that you are near a trading top. Now the correction has taken hold and issues that were trading 2 million shares a day are now plodding along at 50,000 shares daily. When you near a bottom you can’t give shares away.

The Fed and the rest of the Central Banks have guaranteed hyperinflation and far higher values for the metals. The banking system is going to fail and we will have to invent something new.

Meanwhile up in Newfoundland a private company drilled one of the best holes I have ever heard of. That company is now New Found Gold Corp. (NFG:TSX.V). The very first hole the company drilled assayed 19 meters of 92.9 g/t gold. And better yet, the intercept started at 75 meters depth. That means it could be an open pit. And that really changes the cost figures.

The company found a line of deep pocket investors standing outside their door with big checks in their hands. As of right now, 81% of the shares are in the hands of insiders, Eric Sprott, Novo Resources, Rob McEwen and various institutions. Collin Kettell is Executive Chairman, Craig Roberts is CEO. Quinton Hennigh is a director and advisor.

Quinton believes the Keats target at what NFG calls the Queensway project is similar to the ultra high-grade deposit of Fosterville in Australia. But Queensway is a scant dozen kilometers from the major airport at Gander in Central Newfoundland. The Trans Canadian highway runs through the middle of the project.

New Found Gold just began trading ten days ago. At today’s price the company is worth an incredible $200 million but note that they are also especially well funded with about $72 million in their piggy bank.

New Found has hit the ground running with a planned two-phase 100,000-meter drill program. A drill is turning now at the Little/Powerline zone as of last Monday. NFG plans six holes there before moving the diamond drill to the Keats high-grade target. At Keats the company plans 12,000 meters of drilling initially. By the end of September the company expects to have four drills turning with 2,000 meters a week drilled.

COO and QP Greg Matheson has been supervising a 30 man crew in the field since June. NFG owns 100% of the Queensway project with no NSRs. Everything I see says home run potential. If it is another Fosterville it could be a $5 billion company. The first 20 drill holes will tell the story and the majors will be clamoring to buy the company. The company is either going to make a lot of people rich and famous or leave people with a lot of egg on their faces.

NFG is an advertiser. I have bought shares so naturally I am biased. Do your own due diligence. This has the potential to blow the lid off the junior mining sector and that would be very nice.

New Found Gold
NFG-V $1.46 (Aug 19, 2020)
138.8 million shares
New Found Gold website

Bob Moriarty
President: 321gold

Bob Moriarty founded, with his late wife, Barbara Moriarty, more than 16 years ago. They later added to cover oil, natural gas, gasoline, coal, solar, wind and nuclear energy. Both sites feature articles, editorial opinions, pricing figures and updates on current events affecting both sectors. Previously, Moriarty was a Marine F-4B and O-1 pilot with more than 832 missions in Vietnam. He holds 14 international aviation records.

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1) Bob Moriarty: I, or members of my immediate household or family, own shares of the following companies mentioned in this article: New Found Gold. New Found Gold is an advertiser on 321 Gold. I determined which companies would be included in this article based on my research and understanding of the sector.
2) The following companies mentioned are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees.
3) Statements and opinions expressed are the opinions of the author and not of Streetwise Reports or its officers. The author is wholly responsible for the validity of the statements. The author was not paid by Streetwise Reports for this article. Streetwise Reports was not paid by the author to publish or syndicate this article. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.

( Companies Mentioned: NFG:TSX.V,


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