There are a number of companies looking for gold in Newfoundland. A significant discovery by New Found Gold at their Queensway property a few years back got the ball rolling. New Found Gold drilled a hole of 19 meters at 92 grams per ton and then followed it up with a drill hole of 18 meters at 124 gpt. Their market capitalization soared to $1.5 billion. New Found Gold has only been around since 2020.
Eric Sprott is heavily focusing on this area and has large stakes in multiple companies in the area. Earlier this year in an interview Sprott said regarding exploration in Newfoundland…“I do believe it is special,” … “It’s going to prove to be maybe the greatest gold discovery in the history of Canada, if not in the world … so that’s what makes it so easy for me to put that additional money in it.”
This page will be a work in progress and will be updated periodically. Here is a sampling of some of the companies worth following in the region, with more companies to be added in the coming months. Note that the stocks of mining companies in Newfoundland are trading at steep discounts to where they were trading a year go…much in line with most other gold and silver ming stocks.
Please Note: THIS IS NOT INVESTMENT ADVICE.
Please use the comment section to make suggestions for other stocks to be added to this list or feel free to email us via the contact page.
NEW FOUND GOLD
Symbol NFGFF in the US
Highly prospective property with significant potential
The largest claim holder in area
Recent extraordinary drill results
Eric Sprott owns 18.4%
Market Cap in May 2021 was $1.78 Billion
Market Cap in August 2022 is approximately S706 Million
As of May 2021 the 52 week Low/High was $1.24 vs. $5.25
The 52 week Low/High on August 18, 2022 was $3.62 vs. $8.80
NOTE: The potential is high but…so is the market cap!
EXPLOITS DISCOVERY
Symbol NFLDF in the US
They have a 100% interest in 7 properties
Market Cap was $108 million 2021
In May 2021 they raised $8 million via Private Placement of 13.3 million units
At the time their market cap was over $100 million
As of August 18 2022 the Market Cap is $13.7 USD
and the 52 week Low/High is 0.10 / 0.67
The Average Daily Volume was 48,000 shares in August 2022
Recent capital raise up as follows:
August 11 2022 – Did Private Placement at 0.18 cents for $1,500,399
One unit = one share + one warrant exercisable at .70 expiring May 14 2023
New Found Gold bought $4 million and was a previous shareholder
New Found Gold would own 19.2% if their warrants are exercised
Eric Sprott bought $4 million and was previous shareholder
Sprott currently owns 15.1% and would own 26.3% if his warrants are exercised
As of August 23 2022 company has:
$11 million cash (that’s about 0.07 cents per share)
With approx. 156 fully diluted shares that’s 0.07 cents per share in cash (8/23/22)
No Debt
GANDER GOLD
Symbol GANDF in US
Market Cap (August 18 2022) = $18.8 million USD
Cash is $2.5 million as of 5/3/22
No Debt
52 week Low/High is 0.14 / 0.39
They have 2263 sq. KM 15 KM east of New Found Gold’s Keats Zone Discovery
Sassy Resources owns 48.3%
Eric Sprott owns 14.6%
Total by both = 62.9%
NOTE: There is very low volume in the US shares… so there’s not much liquidity
Sokoman Minerals Corp
Symbol SICNF in US
Highly prospective property in Newfoundland
Eric Sprott is largest shareholder – Owns over 20%
5/28/21 Market Cap $83 million
8/26/22 market Cap = $48.86 million (Canadian)
Labrador Gold
Symbol NKOSF in US
Market Cap = $141m Canadian in 2021
Market Cap = $60 million Canadian on August 26, 2022
Flagship gold project is Kingsway located in Gander Gold District
Eric Sprott owns 12.1%
Palisades Goldcorp owns 9%
New Found Gold owns 8.2%
Crescat Capital owns 6.8%
Fully Diluted shares = 202.1 million shares
Cash = $26.5m as of July 2022
No Debt
C2C Gold Corp
Symbol CTCGF in US
Eric Sprott owns 13% (July 29, 2022)
Sabre Gold Mines Corp owns 18% (July 29, 2022)
Market Cap = $14.87 Million Canadian on August 26 2022
52 week Low/High = 0.07 / 0.26 (August 26 2022)
Sassy Gold (formerly Sassy Resources)
Symbol SSYRF in US
Spun off Gander Gold in 2022
Owns 48.3% of Gander Gold as of April 1, 2022 (after spin off)
Marathon Gold
Symbol MGPDF in the US
INFO BELOW AS OF MARCH 2021 – To Be Updated
Market Cap $638 million
Valentine Gold Project
Valentine Lake /2.05m proven and probable/3.14 M&I reserves/1m inferred
May 2021 – Raised $50 million to advance the Valentine Gold Project
Pierre Lassonde – Large investor
Proven Reserves = 1.4 m ounces (1.46g/t)
Probable Reserves = 0.65 m ounces (1.17g/t)
Inferred Resources 1.64 m ounces (1.72g/t)
13 year mine life
Market Cap = $638 Canadian
TRU Precious Metals Corp
Symbol TRUIF in US
INFO BELOW AS OF MARCH 2021 – To Be Updated
Cash $4.5 million (as of March 31 2021)
NO DEBT (as of March 31 2021)
Fully Diluted Shares = $71.2 million
Market Cap = $11 Million
Largest shareholder is Altius Minerals w/14% (Gets 2% royalty)
CEO owns 5%
Golden Rose project is its’ flagship asset
K9 Gold
Symbol WDFCF in US
Stony Lake Gold Project
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