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TooGood Gold Adds to High-Grade Newfoundland Land PositionBob Moriarty August begins the most favorable period of the year for gold from a seasonal point of view. While I am expecting the general stock market to blow up between now and end October any impact on gold or gold shares will be short-term in my judgment. The gold lottery tickets are just starting to climb. A lot of them will go far higher as we proceed in a generational opportunity to invest in something real. TooGood Gold Corporation (TGC-V) has a history of less than a month. It has already rocketed from an opening of $.16 on opening day of July 16th to a high of $.45 three weeks later on the 8th of August. I mentioned the company in a short piece I posted on the 29th of July less than two short weeks ago. The shares were still only $.27 but have closed last week 63% higher. Much of the price action has to do with the quality and broad reach of the management team. That team includes the CEO of Dolly Varden Silver along with the CEO of another of my favorite stocks, Golden Cross who was also the founding CFO of Snowline and a cofounder of Gladiator Metals. TGC’s flagship Toogood Gold Project, situated on New World Island in northeastern Newfoundland, Canada has a district scale 118 square km including 28 km of a highly prospective trend. That gold bearing trend actually extends all the way from Finland to Alamaba. Never drilled prior to 2022, drill results found gold in fifteen out of the nineteen holes the prior operator drilled. 2022 assay results from the Quinlan portion of the overall property included 3.65 meters of 23.9 g/t gold from 4.75 meters depth, 4.25 meters of 18.27 g/t Au from 41.25 meters and 3.18 meters of 9.4 g/t Qu from 9.4 meters deep. TGC has hit the ground running with an announcement of the commencement of a 2,000 meter drill program at Quinlan. That’s not a giant drill program but the results from Quinlan in 2022 demonstrated that high grade gold was at or near surface. The 2,000-meter program will have a planned forty holes averaging about fifty-three meters. In addition, last week TGC posted a press release about how the company has picked up an option to acquire a 100% interest in an additional 375 ha property located in the core of the overall TooGood project. The total cost spread over a two-year period will be $330,000 in shares and cash. This Stockley Kennedy property within the TooGood project has demonstrated a significant gold trend with assays of 127.0 g/t Au, 82.2 g/t Au and 29.5 g/t Au in outcrop from the Chimo Zone along with 67.3 g/t Au 58.9 g/t Au and 20.0 g/t Au in float and outcrop at the Vic Zone. Also 15.3 g/t Au in sub crop at the Sherwood Zone. When I posted my short mention about TooGood Gold less than two weeks ago I said I thought the company was cheap at a market cap of about $20 million. So far I have been correct. I have no problem suggesting that even with a market cap of $33 million it still seems cheap to me. There are only two issues holding the stock back. (1) They don’t have a US OTC symbol yet so American investors are sorta stuck trying to buy the company unless they have a way of picking up Canadian shares and (2) frankly the stock is still off the radar of investors. I’m actually quite surprised they have managed to trade an average of 100,000 shares a day so far. That’s remarkable for a brand-new story but I have little doubt management has been spreading the word with their friends. Drilling has started. It will be a poor job if they don’t come up with some nice results starting in September or so. They are drilling in elephant country on a proven project led by 1st class management. All they really need is for the story to be better understood by investors. Toogood Gold is an advertiser. I have participated in the last PP. Or course I am biased. Do your own due diligence. They have an excellent presentation. Read it. Toogood Gold Corp ### Bob Moriarty 321gold Ltd |
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