New Found Gold (NFG.V)

He's been a skeptic for years. The deposit will clearly be economic. Question is at what scale? He's increasingly attracted to it as its market cap has fallen and as they've done more work on the deposit. Sees it as a string of deposits that ends up being over the 1M oz. threshold. 

His former mentor and partner, Eric Sprott, is the largest shareholder. Having a difference of opinion with Eric is often very hard on your wallet. He's not only watching it, but actively studying it.

The sector has been strong, and NFG has participated. It has $71M cash. While Dundee has sold shares, it still has strong shareholder support including Eric Sprott with about 20%. Revenue is supposed to ramp up in 2027 with the start of the Queensway mine and it should see profitability soon after. This usually gets it a re-rating. We would consider it buyable, but there are many similar stocks and sometimes when a mine is near production stocks go a bit quiet as investors wait to see if everything performs as expected. It is high risk, but we think still decent for speculators. We do think the sector stays strong for a while. 
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When he looks at the charts and plans, he's unable to tie the drill holes together to make a coherent deposit. Note that his former partner and mentor, Eric Sprott, feels very differently about this one and is a very large shareholder, and he's made a lot of money being right.

NFG is down 12% year-to-date, but has had a nice bounce from its April lows and amid good earnings results in May. In late May it was up big as it increased the size of its bought deal financing to advance the Queensway Gold Project to the development stage. The news flow is improving for NFG, and a higher price of gold is also helping to lift goldstocks, but we would like to see its price rise above $3 to signal a potential reversal in its price trend. The company has seen negative price momentum since 2021 and we would prefer to see this reverse before getting more interested in the name.
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Impressed with exploration strategy in Newfoundland and incredibly effective outreach in international public relations. Relative to the sector, ahead of itself on price. 

Believes stock was over valued.
Current share price better reflecting value of company.
Not sure on quality of ore assets.
Eric Sprott sponsorship a good sign for the company.
Deposits in Canada which is a stable political area.
Hesitant on production quality of assets.

Interesting discovery recently.
Well promoted stock.
Eric Sprott involved.
Does not own shares.
Exploration better than expected. 
High quality deposits that trade on premium.