Short-seller report aims to poke holes in story told by fledgling gold company [Financial Post (Toronto, Ontario, Canada)]
New Found Gold Corp (NFGC)
Company Research
Source: Financial Post
You can save this article by registering for free here . Or sign-in if you have an account. Vancouver-based New Found Gold Corp. has been the toast of Canada's exploration sector for reportedly striking bonanza-grade intercepts, but a short-seller report is trying to poke holes in the company's story. The report, released earlier this month by Iceberg Research, raises questions about the deposit's “lack of continuity,” saying the best drill holes may be too narrow and spread too far away from one another to be economically mined. “The deposit, explored since the 1980s, has historically been plagued by a lack of continuity: the presence of gold and grades vary widely across the deposit,” the report said. “Many comparable gold projects have failed due to this problem.” So far, the report appears to have had little impact on investors. New Found Gold's shares are trading for $3.72, which is around where it traded before the report was released. There is little information ab
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News
- Exploits Commences Drilling at Bullseye Gold Property Targeting West Side of the Appleton Fault Zone in Central Newfoundland [Yahoo! Finance]Yahoo! Finance
- NEW FOUND FILES QUEENSWAY GOLD PROJECT NI 43-101 TECHNICAL REPORT [Globe and Mail, The (Toronto, Canada)]Globe and Mail, The
- TSX Penny Stocks To Watch In November 2024 [Yahoo! Finance]Yahoo! Finance
- NEW FOUND ANNOUNCES INITIATION OF MAIDEN RESOURCE AND PRELIMINARY ECONOMIC ASSESSMENT FOR THE QUEENSWAY PROJECT [Yahoo! Finance]Yahoo! Finance
- NEW FOUND ANNOUNCES INITIATION OF MAIDEN RESOURCE AND PRELIMINARY ECONOMIC ASSESSMENT FOR THE QUEENSWAY PROJECTPR Newswire
NFGC
Sec Filings
- 11/19/24 - Form 6-K
- 11/18/24 - Form 6-K
- 11/12/24 - Form 6-K
- NFGC's page on the SEC website