New Found Files 2023 Year-End Disclosure Documents

Rhea-AI Summary

New Found Gold Corp. announces the filing of its 2023 annual financial statements, Management’s Discussion and Analysis, and Annual Information Form with Canadian securities regulators and the SEC. The documents are available on SEDAR, EDGAR, and the company's website.

Insights

Financial Analyst

Upon review of New Found Gold Corp's announcement on the filing of their annual financial statements, several key considerations emerge from a financial analysis perspective. Firstly, the timely disclosure of financial results is a positive signal to investors, indicating transparency and adherence to regulatory requirements. It's essential to scrutinize the performance indicators such as revenue, profit margins and cash flow positions to understand the company's financial health.

Moreover, the mining sector is capital-intensive with significant investment in exploration and development. Therefore, the capital expenditure figures and funding sources detailed in the annual documents will be of interest. These factors can influence the company's ability to sustain operations and expand. Additionally, the cost of production and commodity prices play a pivotal role in the profitability of mining companies. A comparison of these figures against industry benchmarks can provide insights into the company's competitive positioning.

Lastly, it is worth noting the potential impact of macroeconomic factors such as inflation, currency exchange rates and regulatory changes on the company's financials. These elements can affect operational costs and net earnings, thus influencing investor sentiment and the stock's performance.

Market Research Analyst

From a market research standpoint, the release of New Found Gold Corp's annual financial statements offers a fresh dataset for evaluating the company's market performance. The mining industry is subject to volatility due to fluctuating commodity prices and investors will be keen to understand how New Found has navigated this environment over the past year.

Investor relations are also a subtle yet integral aspect of a company's market image. By offering hard copies of financial documents upon request, New Found is demonstrating a commitment to accessibility and shareholder engagement, which can positively influence investor perception and, potentially, the stock's desirability.

Furthermore, the geographic location of mining operations can present unique opportunities and risks. Analysis of the company's operations in relation to geopolitical stability, local taxation and environmental regulations can provide a comprehensive view of potential market risks and opportunities that may not be immediately apparent from the financial statements alone.

VANCOUVER, British Columbia--(BUSINESS WIRE)-- New Found Gold Corp. (“New Found” or the “Company”) (TSX-V: NFG, NYSE-A: NFGC) announces that it has filed its annual financial statements for the year ended December 31, 2023, the related Management’s Discussion and Analysis, and its Annual Information Form for the year ended December 31, 2023 (together, the “2023 Annual Documents”), with Canadian securities regulators and with the U.S. Securities Exchange Commission (the “SEC”) on Form 40-F, which includes the 2023 Annual Documents as appendices.

The 2023 Annual Documents are available under the Company’s profile on SEDAR+ at www.sedarplus.ca and the Form 40-F is available under the EDGAR system of the SEC (www.sec.gov). New Found’s financial disclosure documents are also available on the Company’s website at www.newfoundgold.ca.

Shareholders may also receive a hard copy of the financial disclosure documents without charge upon request through the Company’s investor inquiry form on the Company’s website at www.newfoundgold.ca.

About New Found Gold Corp.

New Found holds a 100% interest in the Queensway Project, located 15km west of Gander, Newfoundland and Labrador, and just 18km from Gander International Airport. The project is intersected by the Trans-Canada Highway and has logging roads crosscutting the project, high voltage electric power lines running through the project area, and easy access to a highly skilled workforce. The Company is currently undertaking a 650,000m drill program at Queensway and is well funded for this program with cash and marketable securities of approximately $49 million as of March 2024.

Please see the Company’s website at www.newfoundgold.ca and the Company’s SEDAR+ profile at www.sedarplus.ca.

Contact

To contact the Company, please visit the Company’s website, www.newfoundgold.ca and make your request through our investor inquiry form. Our management has a pledge to be in touch with any investor inquiries within 24 hours.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240321692612/en/

New Found Gold Corp.

Per: “Collin Kettell”

Collin Kettell, Chief Executive Officer

Email: ckettell@newfoundgold.ca

Phone: +1 (845) 535-1486

Source: New Found Gold Corp.

FAQ

Where can I find New Found Gold Corp.'s 2023 Annual Documents?

New Found Gold Corp.'s 2023 Annual Documents can be found on SEDAR, EDGAR, and the company's website.

How can shareholders request a hard copy of the financial disclosure documents?

Shareholders can request a hard copy of the financial disclosure documents through the Company's investor inquiry form on the company's website.