Past year: ▼ 27%(1.36 – 2.97 USD)
Each one in plain English, with the numbers worked through for a shareholder.
24 Oct 2024drilling result▲ GoodMajor
First six holes into the newly bought Kingsway ground hit a zone the company named Pistachio: 104.62 g/t gold over 2.10m and 10.36 g/t over 4.45m in NFGC-24-2153. Twenty-nine further holes at Honeypot, Jackpot and Everest returned 36.7 g/t over 2m at Jackpot and 5.20 g/t over 6.15m at Honeypot.
15 Oct 2024asset acquisition disposition▲ Good
Exercised the option taken in July and bought the remaining 1% net smelter royalty over Golden Bullet for C$1.0 million cash, leaving a royalty burden of 0% to 0.4% over the key zones along a 5km stretch of the Appleton Fault north corridor.
23 Sept 2024drilling result▲ GoodMajor
First channel samples from the Keats trench confirmed the high grade continues right at surface: 300 g/t gold over 5.1 metres and 215 g/t over 5.2 metres per the company's headline, with KM-24-01-12 returning 214.97 g/t over 5.21m and KM-24-01-16 10.38 g/t over 13.70m. This is the same rock the drill had been intersecting, now exposed and sampled directly.
31 July 2024asset acquisition disposition▲ Good
Bought back 0.6% of a 1.6% net smelter royalty over the Golden Bullet ground - a royalty the company itself granted in a 2016 option agreement - from three arm's-length holders for C$1.95 million cash and 300,000 shares, and took an option to buy the remaining 1% for C$1.0 million by 12 November 2024.
11 July 2024drilling result▲ GoodMajor
The first eleven deep holes confirmed high-grade gold at 820 metres depth, doubling the known vertical extent of the Queensway system, and cut nine new zones spread over 3km of strike on both sides of the Appleton Fault, with single assays to 42.0 and 57.1 g/t gold.
9 July 2024asset acquisition disposition▲ GoodMajor
Closed the Kingsway purchase from Labrador Gold, issuing 5,263,157 shares. Cash and marketable securities stood at about C$54 million, against the roughly C$150 million of working capital the company cited in October 2021.
3 July 2024drilling progress report● Neutral
Started stripping 1 to 12 metres of overburden off the Iceberg zone to expose 220 metres of strike over a 105-metre width, giving 8 to 10 weeks of excavation and then mapping. The point is to check the geological model built from drilling against the rock itself.
11 June 2024drilling progress report● Neutral
The deep drilling program launched off the seismic survey had reached 10,345 metres in 12 holes of 550 to 1,230 metres, testing depth extensions at Jackpot, Lotto, K2 and Iceberg; all results were still pending. Devico was hired to provide directional drilling so existing holes could be wedged rather than re-collared.
7 June 2024drilling progress report● Neutral
Filed an updated NI 43-101 technical report on Queensway by APEX Geoscience, effective 18 April 2024, covering exploration and metallurgy. It contains no mineral resource estimate - the company only commissioned its first one in November 2024.
6 June 2024material agreement▲ GoodMajor
Settled the Ontario lawsuit brought by ThreeD Capital and 1313366 Ontario against the company, Palisades Goldcorp and founder Collin Kettell, which had been set for trial in January 2025. The plaintiffs receive 3.75 million New Found shares, of which Palisades transfers 3,380,000 it already holds and New Found issues only 370,000 new ones, with no admission of liability.
22 Apr 2024asset acquisition disposition▲ GoodMajor
Agreed to buy Labrador Gold's Kingsway project, which adjoins Queensway to the north on the same Appleton Fault trend, for C$20 million payable entirely in New Found shares. No cash leaves the company.
17 Apr 2024drilling result▲ Good
Eighty-five holes across a 3km corridor from Golden Joint to Everest on the east side of the Appleton Fault returned 43.11 g/t gold over 2.00m at Jackpot (NFGC-23-1418) and, per the company's headline, 14.8 g/t over 5m at Honeypot; Everest gave a weaker 1.24 g/t over 13.75m.
10 Apr 2024drilling result▲ Good
Fifty-one holes at the K2 zone, 2.2km north of Keats West, returned 17.8 g/t gold over 13.5m, 27.68 g/t over 2.70m in NFGC-23-1647 and a broad 1.23 g/t over 47.2m, with several stacked intervals in single holes.
3 Apr 2024well test result▲ GoodMajor
First metallurgical testwork recovered 90% to 96% of the gold from 116 composite samples spanning the Keats Main, Golden Joint and Lotto zones, using gravity separation plus carbon-in-leach on the tails. Phase II testing on Iceberg and Iceberg East was already under way.
26 Mar 2024drilling result▲ GoodMajor
Thirty-eight holes expanded Iceberg Alley, a zone 1 km along strike from Iceberg, with 187 g/t gold over 2.55 metres in NFGC-23-1941 (including 632 g/t over 0.75m) and 28.95 g/t over 2.50m; a further 114 holes traced the Keats-Baseline Fault where it runs under South Hermans Pond.
13 Mar 2024drilling result▲ GoodMajor
Sixty-one holes at Iceberg and Iceberg East, 300m northeast of Keats, returned 36 g/t gold over 16.7m, 34 g/t over 14.7m, 43 g/t over 7.35m and 41 g/t over 5.85m, with individual samples to 172 g/t. The program was aimed at infilling gaps and carrying the high grade up to surface.
4 Mar 2024drilling progress report▲ GoodMajor
A HiSeis seismic survey over a 47 km2 core of Queensway North imaged structures down to 2.5 km that line up with the known gold-bearing faults, and picked out a previously unidentified fault about 500m east of the Appleton Fault. On the strength of it the company began deep drilling.
29 Feb 2024drilling result▲ GoodMajor
Ninety-seven holes around Monte Carlo, 800m southwest of K2, turned up a new zone the company named Vegas: 35.2 g/t gold over 16.85 metres in NFGC-23-1848, including a 0.30m sample at 1,910 g/t. Monte Carlo itself gave 25.77 g/t over 2.00m and 10.57 g/t over 3.25m.
22 Feb 2024drilling result▲ GoodMajor
Forty-six holes on the west side of the Appleton Fault returned wide, moderate-grade intervals at Keats West - 3.20 g/t gold over 43.8 metres in NFGC-23-1708, 4.28 g/t over 16.25m in NFGC-23-1144, 2.97 g/t over 23.0m in NFGC-23-1713 - a different shape of target from the narrow, very high-grade intercepts previously reported at Keats itself, and defined a new gold domain at the Cokes zone.
30 Aug 2022capital raising announcement● NeutralMajor
Signed an at-the-market equity distribution agreement with BMO and Paradigm allowing the sale of up to US$100 million of shares into the market over time off a base shelf prospectus. This is issuance capacity, not money raised.
25 Oct 2021capital raising announcement▲ GoodMajor
Eric Sprott agreed to buy 5 million shares at C$9.60 for C$48 million in a non-brokered private placement, money earmarked for Queensway drilling. The company says this takes working capital to about C$150 million; Sprott had backed it since before the IPO.
What it means for a shareholder
5.0m new shares at C$9.60 to raise about C$48.0m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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25 Oct 2021drilling progress report▲ GoodMajor
Four days after the Keats step-out the company doubled its Queensway drill program from 200,000 to 400,000 metres and set out to go from nine rigs to fourteen by Q1 2022, lifting core production from about 3,000 to 4,700 metres a week. It had drilled roughly 102,000m so far and says the expansion is funded from about C$103 million of working capital, rising to about C$150 million once the Sprott placement closes.
14 Oct 2021drilling result▲ GoodMajor
Eleven holes at the Keats zone on the Appleton Fault pushed the high-grade core 65 metres further down-plunge, to 530 metres, on 61.50 g/t gold over 5.20 metres in hole NFGC-21-360; up-dip holes returned 63.92 g/t over 3.25m and 17.59 g/t over 6.50m. Keats now measures roughly 250m wide by 490m along strike by 307m deep and is open in every direction.
