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 advancements in the mining sector.
NexGold's internal confidence was highlighted yesterday when an insider purchased $4,000 worth of NEXG shares.
The Goliath Gold Complex, comprising the Goliath, Goldlund, and Miller deposits in northwestern Ontario, forms the cornerstone of NexGold’s portfolio.
This complex is projected to produce an average of over 100,000 ounces of gold annually for nine years within its 13-year mine life, showcasing its substantial exploration potential.
The current resources stand at 2.1 million ounces in measured and indicated (M&I) categories, with ongoing exploration expected to increase these figures further.
The Goliath Gold Complex spans a 65-kilometer strike length, and NexGold’s experienced team is dedicated to realizing value through both development and exploration.
NexGold is focused on bringing the Goliath Gold Complex into production. The project has demonstrated impressive Pre-Feasibility Study (PFS) economics, with 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.
NexGold has successfully completed the federal environmental assessment process for the complex, paving the way for its transition into production.
With a robust cash position of $16.4 million, the company is well-equipped to accelerate its activities, aiming to increase mineable resources and discover new deposits.
Over the next six months, NexGold plans to provide regular 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.
More here: https://nexgold.com/wp-content/uploads/2024/07/Nexgold_deck_2024-07-24.pdf
Posted on behalf of NexGold Mining Corp.