Need to Know Insights from Billionaire Mining MogulNEED TO KNOW Insight from Billionaire Mining Mogul & his Plan for NexGold Mining (NEXG.v NXGCF), the Next Mid-Tier Gold Producer At the 2024 Precious Metal Summit, Frank Giustra, CEO of the Fiore Group, discussed his focus on building multi-asset mining companies through a "buy and build" strategy, highlighting his involvement with NexGold Mining (NEXG.v NXGCF):
https://www.youtube.com/watch?v=rivswbFfTwA Giustra emphasized the need for consolidation in the junior mining sector, as small, single-asset companies struggle to attract investors. He expects gold and silver prices to rise, driven by rate cuts and industrial demand, and plans to expand his gold, silver, and copper ventures through strategic acquisitions.
The Next Mid-Tier Gold Explorer
Amid expanding into a multi-asset company, NEXG is exploring the Goliath Gold Complex (GGC), a largely underexplored project located in Northwestern Ontario.
With the current resource covering less than 10% of its 65 km strike, the project has a total measured and indicated resource of 2.1 million ounces of gold, with an additional 0.8 million ounces inferred.
Benefits from access to world-class infrastructure, including highways, rail, and power, which facilitates efficient logistics, the site additionally has a pre-existing ADR facility and permitted pits, providing the necessary infrastructure for immediate production.
Notably, at a gold price of $1,750 per ounce, the Goliath Gold Complex demonstrates strong economics, with a post-tax NPV of $336 million and an IRR of 25.4%.
However, if the gold price rises to $2,150 per ounce, the NPV increases to $625 million with a 41.1% IRR. The project’s projected cash cost is $892 per ounce, with an all-in sustaining cost (AISC) of $1,037 per ounce.
Initial capital expenditure is estimated at $335 million, with a payback period of under 2 years at $2,150 per ounce of gold. The mine is expected to have a 13-year life, producing 109,000 ounces of gold annually during the first 9 years.
Positioned for substantial growth, driven by its robust resource base, fully developed infrastructure, and favorable market conditions for gold, NEXG's strategic focus on production-backed exploration and its strong financial position ensure it is well-equipped to take advantage of future opportunities in the gold sector.
For more information, check out NEXG's President, Morgan Lekstrom, presenting at the 2024 Precious Metals Summit Beaver Creek, highlighting the company's path to becoming the next mid-tier gold producer:
https://www.gowebcasting.com/events/precious-metals-summit-conferences-llc/2024/09/11/nexgold-mining-corp/play/stream/38856 Posted on Behalf of NexGold Mining Corp.