NeXGold Mining Corp V.NEXG

Alternate Symbol(s): NXGCF

Metals & Mining Gold

NexGold Mining Corp. is a gold-focused company with assets in Canada and Alaska. Its Goliath Project, which includes the Goliath, Goldlund, and Miller deposits, is located in Northwestern Ontario. The Goliath Gold Complex refers to a prospective 65 kilometers (km) trend in approximately 330 square kilometers (km2) land package comprised of three distinct projects located within the Wabigoon-Greenstone belt in the Dryden-Sioux Lookout Area of northwestern Ontario. It also owns several other projects throughout Canada, including the Weebigee-Sandy Lake Gold Project JV, and grassroots gold exploration property Gold Rock. In addition, It holds a 100% interest in the high-grade Niblack copper-gold-zinc-silver volcanogenic massive sulfide ore (VMS) project, located adjacent to tidewater in southeast Alaska. The Gold Rock Property is located 38 km south of Dryden, Ontario. Its has 100% interest in five properties: Texas Creek, Cantoo, Mineral Hill, Rooster and Casey, totaling 7,920 ha.

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NeXGold Mining Corp

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Post by 1StockInformeron Oct 15, 2024 6:23pm

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Post# 36267207

NEXG Plans Merger w/ Signal Gold to Form Premier New Company

In a interview released today on CEO & Market Expert Interviews by triANGLE INVESTOR, NexGold Mining Corp (Ticker: NEXG.v or NXGCF for US investors) President Morgan Lekstrom shared updates about the company's major strategic plans, including an upcoming merger with Signal Gold (Ticker: SGNL or SGNLF for US investors)

This merger will create one of Canada’s most advanced near-term gold developers, combining 4.7 million ounces of measured and indicated gold resources. The company aims to produce over 200,000 ounces of gold annually.

r/PennyStocksCanada - Interview Summary: NexGold Mining (TSX.V: NEXG) Plans Merger with Signal Gold to Form Premier Canadian Gold Developer (New Video Released Today)

Key points from the interview include:

Merger with Signal Gold: The merger will establish NexGold as a mid-tier gold developer, leveraging the Goliath Gold Complex in Ontario and the Goldboro Project in Nova Scotia. This will put the new company at 6 million ounces of gold company with 4.7 million ounces in the M&I catagory.
Strong Backing: The merger is supported by notable industry leaders like billionaire Frank Giustra and Eric Sprott, both significant backers of NexGold.
Management: Post-merger, Kevin Bullock of Signal Gold will take the CEO role, while Jeremy Wyeth, NexGold’s current CEO, will focus on operations as COO. This division of responsibilities aims to efficiently manage both companies’ assets.
Development Plans: The company plans to complete a feasibility study for the Goliath project by Q1 2025, followed by drilling expansion at both Goliath and Goldboro. Shovels are expected to be in the ground at Goliath by the end of 2025 or early 2026.
Exploration Focus: Alongside development, NexGold will expand exploration at Goldboro and explore opportunities in other projects, including their Niblack project in Alaska.
Cash Position & Financing: NexGold has $11.5 million in cash, with more financing expected, leaving the company well-capitalized for near-term exploration and construction.

Overall, the interview highlighted NexGold's rapid growth and future-focused strategy as it prepares to become a bigger player in Canada's gold mining industry through the upcoming merger with Signal Gold.

Full interview here: