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Jay Taylor: New Found Gold – the greatest gold discovery in America? And what’s new with Novo?

June 28, 2023
423

New Found Gold Corp. | Novo Resources Corp.

TSX-V: NFG | TSX: NVO
by James Hyland, MiningIR

Mike Spreadborough of Novo Gold returns and Collin Kettell, co-founder and Chairman of New Found Gold, visits for the first time. Mike Spreadborough will explain why people who have given up on Novo Gold may be sorry for doing so. Novo appears to have great prospects for uncovering a high-grade gold deposit next door to a 10+ million ounce gold deposit in Australia owned by De Gray, an Australian public company. 

Watch Below

YouTube video

Geologist Dr. Quinton Hennigh who was instrumental in discovering high-grade gold at the Fosterville gold mine in Australia was the one person most responsible for making Kirkland Lake Gold into a household name. Quinton told your host a few years ago that the Queensway project in Newfoundland, Canada would soon be placed in a public company named New Found Gold and that Queensway would host not one but several “Fostervilles!” Low and behold, Dr. Hennigh’s educated prediction now appears to be coming true. There does indeed seem to be multiple “Fostervilles” in the making at Queensway. Your host has covered many great exploration discoveries over the years, including Snowline Gold’s evolving multi-million oz. Rogue gold project. But nothing I have seen since I started writing about gold exploration stocks in 1981 quite compares in grade and scale with New Found Gold’s Queensway. Collin will talk of what has emerged so far at Queensway as well as what he and other major shareholders of New Found Gold are planning. But that’s not all. Collin will tell you about a way you can indirectly buy shares of New Found Gold at a 50% discount.

New Found Gold’s orogenic gold discovery is truly emerging into one of the most spectacular new gold discoveries in modern times. Collin Kettell, Chairman of New Found Gold, shares his thoughts about the future of the company’s high-grade world class Queensway project as well as a couple of other noteworthy companies he heads up, namely Palisades Gold and Nevada King.

Novo Resources was a high-flying stock in 2017 but it has fallen back to earth when COVID, inflation, government regulations and grade control problems with its Beatons Creek mine caused the company to place the mine on care and maintenance. But don’t discount Novo now that De Grey Mining is committed to spending $25 million over the next 4 years to explore and develop Novo’s very promising Becher project located next to De Grey’s 11.7 million ounce gold deposit.

About J Taylor’s Gold & Technology Stocks

Mr. Taylor is editor of J Taylor’s Gold & Technology Stocks newsletter (Subscribe) and host for the popular radio show, Turning Hard Times into Good Times (Listen). His interest in the role gold has played in U.S. monetary history led him to research gold and into analyzing and investing in junior gold shares. In 1981 he began publishing North American Gold Mining Stocks, which preceded his current newsletter. His continuing interest in gold mining prompted him to study geology at Hunter College in New York City, supplementing his MBA in Finance & Investments from Baruch College, NYC. Throughout his career Mr. Taylor worked as a commercial, then as an investment banker. Most recently, he worked in the mining and metals group of ING Barings in New York. Prior to that he was involved in the first gold loan made in modern times in the U.S. to Amax Minerals, a 250,000 oz. loan facility led by Citicorp. In 1997 he resigned from ING Barings to devote himself full time to researching mining & technology stocks, writing his newsletter and assisting companies in raising venture capital. Along with the publishing of his newsletter he currently also hosts the web-based radio show “Turning Hard Times Into Good Times.”

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Disclaimer
MiningIR hosts a variety of articles from a range of sources. Our content, while interesting, should not be considered as formal financial advice. Always seek professional guidance and consult a range of sources before investing.
James Hyland, MiningIR
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