Interview Summary: NEXG President Outlines SGNL Acquisition The Jay Martin Show recently hosted Morgan Lekstrom, President of Nexgold Mining (Ticker: NEXG.v or NXGCF for US investors), to discuss the company's strategic positioning and its upcoming significant acquisition.
Nexgold, backed by lead investor and billionaire mining investor Frank Giustra, aims to become Canada's next mid-tier gold producer.
The company is set to acquire Signal Gold (Ticker: SGNL or SGNLF for US investors) and its Goldboro project in Nova Scotia, adding to NEXG's foundational Goliath project in Northern Ontario upgrading the company's total resource to 6 million ounces, of which 4.7 million are in high-confidence categories.
Lekstrom outlined Nexgold's proactive strategy:
-
Goliath Project:
-
Estimates projecting annual production of 109,000 ounces at an all-in sustaining cost (AISC) of US$1,072 per ounce
-
Advanced stage with federal permits, provincial permits near completion
-
A construction decision is expected in early 2025.
-
Goldboro Project:
-
January 2022 Feasibility Study estimates a 11-year open-pit life of mine, with average gold production of 100,000 ounces per annum and an average mill feed grade of 2.26 grams per tonne gold
-
High-grade drilling results suggest further growth, making Goldboro a valuable addition.
-
Exploration and Growth: Aggressive exploration and expansion are planned for both projects, with potential first gold pour projected 18-22 months post-construction decision.
-
Leadership Strength: The team gains expertise with Kevin Bullock from SGNL set to come on as CEO, backed by an experienced management team capable of moving projects into production.
Overall, Lekstrom emphasized Nexgold’s commitment to shareholder trust, the dual-asset advantage for de-risking, and continuous delivery on strategic promises, setting the company apart as it navigates toward mid-tier production.
Full interview here:
Posted on behalf of NexGold Mining Corp.