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VANCOUVER, CANADA - New Found Gold Corp. (the "Company") announced today the commencement of its 2025 work program on the Queensway Gold Project. The program is set to advance the exploration and development of the Company’s flagship project located in Newfoundland and Labrador, Canada. With a market capitalization of $30.54 billion, the Company’s stock has seen a challenging year, currently trading at $107.52, near its 52-week low. According to InvestingPro analysis, the stock appears undervalued based on its Fair Value calculations.
The Company, listed under the ticker symbol NFG on the NYSE American and TSX Venture Exchange, is focused on gold exploration. New Found Gold Corp. is incorporated in Canada with its principal executive office at 1055 West Georgia Street, Suite 2129, Vancouver, British Columbia, V6E 3P3. InvestingPro data shows the company maintains a strong financial health score of "GOOD" and operates with robust liquidity, as evidenced by a current ratio of 2.2.
In a press release dated May 7, 2025, the Company detailed the planned activities for the work program, which include drilling, geological mapping, and sampling. The goal of these activities is to further delineate the gold mineralization at the site and to expand the known resources.
The announcement was made in a Form 6-K filing with the U.S. Securities and Exchange Commission (SEC), which is a requirement for foreign private issuers like New Found Gold Corp. that have securities listed in the United States. The Form 6-K provides a monthly update on the activities and developments of the Company.
Keith Boyle, the Chief Executive Officer of New Found Gold Corp., signed off on the report, emphasizing the Company’s commitment to advancing the Queensway Gold Project. The detailed plans and expectations for the 2025 work program are outlined in the press release, which is included as Exhibit 99.1 in the SEC filing.
The commencement of the work program represents a significant step forward for New Found Gold Corp. as it continues to focus on its exploration efforts in the prolific mining region of Newfoundland and Labrador.
Investors and stakeholders are encouraged to review the Company’s filings with the SEC for further details on the Company’s activities and plans for the Queensway Gold Project. The information in this article is based on the latest 6-K filing by New Found Gold Corp. with the SEC.
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