TODAY: Key NEXG Insights Shared @ RedCloud Webinar (Summary) This morning, Morgan Lekstrom, President of NexGold Mining Corp. (Ticker: NEXG.v or NXGCF for US investors) conducted a webinar hosted by Red Cloud Financial Services provided insights into NexGold's strategy, project outlook, and future growth plans, particularly around its Goliath Gold Project in Ontario.
The Goliath Project is a 3-million-ounce gold deposit with advanced permitting and a path toward near-term production. Lekstrom emphasized that the project has the potential to produce over 100,000 ounces of gold annually. The company plans to move forward with a construction decision in Q3 2024, planning to get shovels in the ground in 16 months.
Lekstrom also discussed the company's approach to exploration, noting the initiation of a 25,000-meter drill program to explore the 65-kilometer strike at Goliath. This exploration is intended to enhance the current resource and expand the deposit.
NEXG has strong financial backing, with over $12 million in the bank and significant institutional support, including a 10.1% stake held by billionaire mining investor Frank Giustra.
A key element of NexGold's strategy is positioning itself as a consolidator in the mid-tier gold mining space, leveraging the expertise of a seasoned management team that includes industry veterans like Jim Gowans, the Ex President of Barrick Gold, and Jeremy Wyeth, who has 35 years of mining building experience. The team is focused on identifying additional projects in tier-one jurisdictions, with a preference for North America.
Additionally, NexGold has fostered strong relationships with First Nations communities and is working toward finalizing agreements to ensure a collaborative approach to development.
Overall, the webinar highlighted NexGold's ambition to become a leading mid-tier gold producer with a focus on strategic growth, exploration potential, and disciplined capital allocation.
Full webinar replay here:
Posted on behalf of NexGold Mining Corp.