StreetSmart Live! Presents Patriot One Technologies Inc. on 10/15/2020. Learn More

Get the Latest Investment Ideas Delivered Straight to Your Inbox.

New Found Gold Hits Bigly
Contributed Opinion

Share on Stocktwits

Source:

Bob Moriarty Bob Moriarty of 321gold takes a look at results coming out of the company's drill program at its Newfoundland project.

In the last month or so I have done half a dozen interviews. In each I said that the next couple of months easily could be the most significant in US history. With the news that the President and First Lady both test positive in the PCR Corona test (which doesn't test for Covid-19) the weird just got a whole lot weirder. As cynical as I am, no matter how cynical I get, I just can't keep up.

So we easily could have an election, if there is one, between Pence, who can go out in the Washington DC afternoon sun and cast no shadow and Kamala Harris who is already talking about a "Harris Administration." At least she realizes along with the rest of us that Joe Biden is senile and she is Plan B. I think that is covered in the "Gag me with a spoon" exception.

New Found Gold Corp. (NFG:TSX.V) drilled.

New Found Gold hit.

Get used to it, with a 100,000 meter drill program you are going to be hearing a lot of it.

Lotto

While every junior resource company in Canada would love to have those kinds of numbers, the vast majority of investors would have skipped over or totally missed the most important parts of the news release. $2500 a ton rock is nice.

Queensway

Lotto isn't the primary high-grade zone. That's Keats where two drill rigs are plugging away as I write. Keats' numbers will be out soon and could be explosive if they repeat anything similar to the 92.86 g/t gold over 19 meters from the first hole. Lotto is some 2 kilometers from Keats. With a similar style of mineralization and bonanza grades, if Keats and Lotto join up, NFG is off to the races. After all, they are on the same trend. If you have 2 km of bonanza grade, well, you have a gold mine.

But just as significant is the depth where the high-grade intercepts took place. With a 46-degree dip, going down hole 70 meters puts you only 50 meters from the surface. That's well within open pit parameters.

So what we know so far is that NFG has bonanza grade gold over what could be a 2 km stretch that would be easy and low cost to mine in an open pit.

The float on NFG is tiny with 81% of the shares in the strongest of strong hands. At today's price NFG has a market cap of only $330 million but is sitting on $75 million in the treasury. Compare that to the market value of Great Bear at $750 million. If NFG hits similar numbers to the first hole at Keats or better look for them to join the billion dollar club.

NFG is an advertiser. I have bought shares so naturally I am biased. Do your own due diligence. There is no limit to where this company could go.

New Found Gold
NFG-V $2.38 (Oct 1, 2020)
New Found Gold website

Bob Moriarty
President: 321gold
Archives
321gold

Bob Moriarty founded 321gold.com, with his late wife, Barbara Moriarty, more than 16 years ago. They later added 321energy.com 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.

[NLINSERT]

Disclosure:
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 decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.

Want to read more about Gold investment ideas?
Get Our Streetwise Reports Newsletter Free and be the first to know!

A valid email address is required to subscribe