NEXG: Advancing Towards Mid-Tier Gold Production in Canada NexGold Mining Corp. (Ticker: NEXG.v or TSRMF for US investors) is a gold-focused exploration and development company, poised to make significant strides in the mining sector.
The company’s flagship project, the 100%-owned Goliath Gold Complex in northwestern Ontario, has successfully navigated the federal environmental assessment process, setting the stage for its transition into production. NexGold is on track to establish itself as one of Canada’s next producing gold mines, capitalizing on its extensive resources and strategic initiatives.
The Goliath Gold Complex
Comprising the Goliath, Goldlund, and Miller deposits, the Goliath Gold Complex is the cornerstone of NexGold’s portfolio. With an anticipated production of 110,000-120,000 ounces per year, the complex holds significant exploration potential. Current resources stand at 2.1 million ounces in measured and indicated (M&I) categories, with ongoing exploration expected to further expand these figures.
Niblack Project
NexGold’s portfolio also includes the Niblack Project, featuring a 6 million tonne NI 43-101 compliant resource. The Niblack Project offers significant expansion potential, confirmed by recent geological reinterpretation and drilling results. With existing underground infrastructure, the project is well-positioned for continued exploration and development.
Investment Growth Platform
NexGold's immediate focus is on bringing the Goliath Gold Complex into production. This advanced development project has produced an impressive Pre-Feasibility Study (PFS) economics, boasting an estimated Net Present Value (NPV5%) of $652 million and an Internal Rate of Return (IRR) of 41.1% at a gold price of US$2,150 per ounce. With feasibility studies and final permits currently underway, the Goliath Gold Complex is positioned for near-term production, reinforcing NexGold’s growth potential.
Strategic Consolidation and Exploration
Anchored by cornerstone investor Frank Giustra, NexGold has adopted a proactive strategy to evaluate potential acquisitions, aiming to bolster its asset base and expedite its journey toward mid-tier producer status. The company’s exploration efforts are equally ambitious.
The Goliath Gold Complex encompasses a 65-kilometer strike length, and NexGold’s experienced team is focused on dual-track value realization through both development and exploration. The company’s robust cash position of $16.4 million ensures it can accelerate these activities, aiming to increase mineable resources and discover new deposits.
Exploration and Development Milestones
Over the next six months, NexGold plans to maintain a steady flow of updates, including drilling results from the Goliath-Goldlund strike, progress on permitting and feasibility studies, and potential acquisitions. A construction decision for the Goliath project is anticipated by mid-2025, with construction expected to commence by early 2026. These milestones underscore NexGold’s commitment to advancing its flagship project and achieving production.
Company Website: https://nexgold.com/
Company Deck: https://nexgold.com/wp-content/uploads/2024/07/Nexgold_deck_2024-07-24.pdf
Posted on behalf of NexGold Mining Corp.