New Found Gold Corp. shares rise 4.57% premarket after Gold Reserve's improved proposal in Citgo sale process.

New Found Gold Corp. rose 4.57% in premarket trading, with the company's stock price increase potentially influenced by the recent news events related to Gold Reserve Ltd. Gold Reserve Ltd. submitted an improved proposal for the purchase of the shares of PDV Holding Inc., the indirect parent company of Citgo Petroleum, and received early termination of the Hart-Scott-Rodino Act waiting period for the proposed acquisition. This regulatory approval indicates that the acquisition does not raise antitrust concerns, which could positively impact the overall sentiment towards gold-related stocks.