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New Found Gold Corp stock
Almost 90% of the outstanding shares of New Found Gold (TSXV: NFG) are tightly held by company principals and major investors.
NOVO Resources Corp holds 11% (15 million shares)
Billionaire Eric Sprott holds 18%
Palisades Goldcorp Ltd holds 33%
After receiving assay results from their initial drill campaign, the company expanded their already impressive 100K meter drill program to a super-aggressive drill campaign targeting 200K meters in 2021.
Based on initial drill results, New Found Gold has discovered a large high-grade, shallow mineral deposit.
The shallow depth of mineralization allows for low-cost open pit mining and NFG should be able to do this on a district scale because of their large land package.
Dr. Quinton Hennigh, an experienced economic geologist and Director at New Found Gold, referred to assay results in early-2021 and said, “there is a big Gold system here.”
In early-2021 the company filed with the SEC to be listed on the NYSE American exchange.
Obtaining a listing on a US exchange will significantly increase the investor capital that New Found Gold is able to attract.
New Found Gold (NYSE: NFG) Listing on NYSE
On February 1st, 2021 NFG announced that the company had filed with the SEC to be listed on the NYSE in 2021.
A US listing makes the company easily accessible to both retail and institutional investors. Companies with US listings are typically able to attract more capital than companies with listings on less-respected exchanges.
Stepping-up to the NYSE should be a significant catalyst for New Found Gold’s share price.
Another catalyst likely to occur in 2021 is NYSE: NFG rising above the $5.00 per share level. At that point institutional Mining stock investors at the institutional level will be able to get involved in this dynamic growth story.
Further growth catalysts are possible since the best mining stock ETFs are likely to add this dynamic growth stock to their portfolio.
Bryan V Post is a California-registered Investment Advisor Representative specializing in the Precious metals.
He is the founder and CEO of Satori Traders LLC, a California-registered Investment Advisor.
Bryan has worn numerous hats during his life:
Engineer, Portfolio manager, Precious metals Investor, Technical analyst, Proprietary trader, Swing trader.
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