New Found Gold (NFG-X)

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.