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What Was The Reason Behind NFGFF Stock Increasing 13% Last Session?

NFGFF stock jumped 13.43% to $6.89 at its previous close as New Found Gold Corp. (OTCPINK:NFGFF) recorded a solid increase. Over the last week, NFGFF stock performance was 21.30%, which compares to the gain of just 0.74% over a month. Following the announcement that it would be listed on the NYSE, NFGFF stock has gained traction.

When will NFGFF begin trading on the NYSE?

Located just 18 km from Gander International Airport, the Queensway Project is owned 100% by New Found. A Trans-Canada Highway crosses the project area, as do logging roads and high voltage electricity lines. The project also has easy access to highly skilled workers. As part of its drilling program at Queensway, NFGFF is drilling 200,000m. As of Q3 2021, Queensway will have ten drill rigs in operation, with nine rigs currently in operation. NFGFF has a current working capital balance of approximately $111 million, which is sufficient for this program.

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  • In an announcement on Friday, New Found Gold stated that it would list its common shares on the NYSE American stock exchange in the United States.
  • Under the ticker symbol “NFGC,” New Found expects that its common shares will begin to trade on or about September 29, 2021.
  • Under the ticker symbol “NFG”, NFGFF’s common shares remain on the TSX Venture Exchange.
  • The OTC Markets will cease to trade NFGFF’s common shares as soon as the stock starts trading on NYSE American. Shareholders do not need to take any action.

A recent assay result from the Appleton Fault Zone has been released by New Found Gold Corp. NFGFF has detected high-grade gold in a new area at Queensway, located 15km west of Gander, Newfoundland, at its 100%-owned Queensway Project.

The highlights include:

  • Gold assay results of up to 1,131 g/t Au have been reported along the Appleton Fault and have been nicknamed Big Dave.
  • In all, this high-grade gold showing represents the northernmost showing of high-grade gold along the Queensway to date.
  • A surface rock sample was taken at Big Dave for the first time from this underexplored part of the Appleton Fault.
  • Appleton Fault area demonstrates limited outcrop and grab samples found to contain visible gold was highly angular quartz float.
  • Having multiple samples located near one another indicates that the Appleton Fault may hold many more discoveries.
  • The Big Dave zone lies along the Appleton Fault east side, in a similar stratigraphic position to the Keats and Lotto zones.
  • According to the highly angular character of the float sample and the location of the sample site, the source may be near the surface and may reach surface.

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