Is Nexgold the Next Big Acquisition in the Gold Sector? Is Nexgold Mining the Next Big Acquisition in the Gold Sector?
Joining the Jay Martin Show, Morgan Lekstrom, president of NexGold Mining (NEXG.v NXGCF), detailed the company's aim to become Canada's next mid-tier gold producer, expanding from a single asset to a dual-asset company to reduce risks and increase production potential with the acquisition of Signal Gold: https://www.youtube.com/watch?v=iFyaCwjQX7Q
Recent Acquisition: Goldboro Project
- Location: Nova Scotia
- Resource Addition: 3 million ounces of gold
- Benefit: Transforms Next Gold into a multi-asset company, enhancing shareholder confidence and growth potential
- Total Resources: Nearly 6 million ounces combined with Next Gold’s original Goliath project in Northern Ontario
Key Financial Moves
- Debt Restructuring: Reduced Goldboro’s debt from $27 million to $12 million and extended terms to improve financial flexibility and support project financing efforts
- Royalty Structure: Established a 6% NSR on Goldboro with a buyback option, providing non-dilutive financing options
Goliath Project: Ontario
- Resource Base: 3 million ounces of gold, advancing permitting and nearing construction decisions
- Exploration Plans: Ongoing drilling with expansion potential along strike and at depth alongside permit applications and stakeholder agreements in progress for future development
Upcoming Milestones and Timeline
- Construction Decision: Targeting Q3 2025 for the Goliath project
- Production Timeline: Anticipated first gold pour within 18-22 months post-decision
- Near-Term Newsflow:
- Results from Goliath’s ongoing drilling program
- Additional permits, agreements, and feasibility updates for both Goliath and Goldboro
Future Growth Strategy
- Expansion: Continues evaluating potential acquisition opportunities, with a preference for assets that support near-term production
- Mid-Tier Production Goal: Aiming to fill the gap in the Canadian mid-tier producer market with 100,000-200,000 ounces per year
- Focus on Execution: Committed to building trust through consistent, transparent progress
Creating a unique investment opportunity in the Canadian gold sector, NEXG has a clear path to 200,000 ounces of gold per yearl across a combined 60,000 hectares of land with potential for further discoveries along strike, at depth and through new discoveries.
Latest News Release: https://nexgold.com/nexgold-intersects-visible-gold-70-metres-below-a-previous-result-of-193-g-t-over-1-metre-showing-extension-to-the-c-zone-east-area-at-the-goliath-deposit/
Posted on Behalf of NexGold Mining Corp.