Hi there,
For whatever reason, lots of interest in gold speculative plays on the Q&A in recent weeks. New Found Gold is yet another one of these exploration and development companies that is in pre-construction mode.
It owns a 100% interest in the Queensway project in Newfoundland. I would say what stands out about NFG is the 'money' that is behind the company. Notable gold investor Eric Sprott owns 18% and another industry veteran Rob McEwan owns 7% - typically when big names like this take notable positions, it is a good sign.
That being said, this is still a very long ways to becoming a producer. It is still in drilling mode and will be years before the company pours its first gold. It does seem well capitalized for its current drilling program, but I am not sure when the feasibility study, permitting and construction will begin. Could still be years away from a shovel in the growth.
Given this, it remains a high risk investment. Not to say it won't work out, but such is the reality with this early stage E&D companies.
Mat