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NeXGold Mining Corp V.NEXG

Alternate Symbol(s):  NXGCF

NexGold Mining Corp. (NexGold) is a gold-focused company with assets in Canada. The Company’s Goliath Gold Complex, 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. NexGold also owns several other projects throughout Canada, including the Weebigee-Sandy Lake Gold Project JV, and grassroots gold exploration property Gold Rock. In addition, NexGold 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, as well as five Hyder Area gold-silver and base metal properties in southeast Alaska.


TSXV:NEXG - Post by User

Post by 1StockInformeron Nov 07, 2024 5:31pm
24 Views
Post# 36302026

NEXG Closes $18.5M Financing w/ SGNL; Sprott Boosts Stake

NEXG Closes $18.5M Financing w/ SGNL; Sprott Boosts Stake

Yesterday, NexGold Mining Corp. (Ticker: NEXG.v or NXGCF for US investors), a gold-focused company with significant assets in Canada and Alaska, closed its upsized financing, raising $18.5 million in collaboration with Signal Gold Inc. (Ticker: SGNL or SGNLF for US investors).

This financing aims to support NexGold’s upcoming acquisition of Signal and advance its flagship projects: the Goliath Gold Complex in Ontario and Signal’s Goldboro Project in Nova Scotia.

The funds will advance project exploration, debt retirement, and general expenses. 

Notably, Sprott Asset Management increased its holdings in NexGold to 11.43% post-financing.

NexGold's Goliath Gold Complex, located 20 km east of Dryden, Ontario, stands out as a robust gold-silver project comprising the Goliath, Goldlund, and Miller deposits. 

r/smallstreetbets - NexGold (NEXG.v NXGCF) Closes $18.5M Financing with Signal Gold (SGNL SGNLF) Ahead of Merger to Fund Development of their Near-Term Goliath & Goldboro Gold Projects, Sprott Boosts NEXG Stake to 11.43%

The site benefits from excellent infrastructure access, including the Trans-Canada Highway, power availability from Hydro One, rail connectivity via CP Rail, and proximity to a skilled workforce. 

Proven and probable mineral reserves at Goliath include 1.31 million ounces of gold and 1.72 million ounces of silver.

 Additionally, the project boasts combined measured and indicated mineral resources of 2.1 million ounces of gold and 3.52 million ounces of silver, with an inferred resource of 782,800 ounces of gold.

In terms of production capabilities, the Goliath Project is anticipated to yield an average of 109,000 ounces of gold annually over its first nine years within a 13-year mine life.

The Goliath Gold Complex is not only marked by its technical simplicity and economic viability but also holds potential for further exploration, which could extend its operational life and resource base. 

NexGold’s strategic focus on the Goliath Project aligns with its goal of becoming a leading gold producer while fostering sustainable development and economic opportunities in Northwestern Ontario.

This financing, combined with Signal’s expertise and assets, positions the merged company to leverage the Goliath Project’s potential and Signal’s Goldboro Project for robust growth in the gold sector.

Full news here: https://nexgold.com/nexgold-and-signal-gold-complete-upsized-concurrent-financing-for-18-5-million/

Posted on behalf of NexGold Mining Corp.

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