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NeXGold Mining Corp V.NEXG

Alternate Symbol(s):  NXGCF

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.


TSXV:NEXG - Post by User

Post by MarketMakersson Nov 01, 2024 4:17pm
184 Views
Post# 36292969

Is Nexgold the Next Big Acquisition in the Gold Sector?

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.

 

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