Morgan Continuing to Buy Morgan Lekstrom’s Insider Buying Highlights NexGold’s Bright Future Following Merger with Signal Gold
Recent insider buying by Morgan Lekstrom, CEO of NexGold Mining (NEXG.v, NXGCF), underscores the growing confidence in the company’s transformative merger with Signal Gold.
This strategic move positions NexGold as a leading near-term gold producer in Canada, consolidating a robust portfolio of assets and significant resource potential.
The merger creates a combined entity with 4.7 million ounces of Measured & Indicated (M&I) gold resources and 1.3 million ounces of Inferred resources. This includes NexGold’s Goliath Gold Complex, hosting 2.1 million ounces, and Signal Gold’s Goldboro project, making the new company a major player in Canada’s gold sector.
Strong Financing and Support
To support the merger and accelerate project development, NexGold and Signal Gold recently closed an $18.5 million oversubscribed financing. This round of funding saw strong institutional interest, with Sprott Asset Management increasing its stake to 11.43% (14.95% partially diluted).
Further, the robust financial backing signals market confidence in the company’s growth trajectory and ability to execute on its ambitious plans.
Strategic Growth Plans
The newly formed company plans to build on its combined resources of over six million ounces through a series of milestones:
- Goliath Feasibility Study: Scheduled for completion in Q1 2025.
- Construction Decision: Expected in H2 2025, targeting annual gold production of 200,000 ounces.
- Exploration Potential: With a 60,000-hectare land package, there is significant room for resource expansion and discovery.
A New Chapter in Canadian Gold Mining
Creating a multi-asset gold company with the scale and resources to drive long-term value, the Goliath Gold Complex and Goldboro project provide a solid foundation for near-term production, while the combined land package offers exceptional exploration upside.
To summarize, Morgan Lekstrom’s recent insider buying further reinforces the confidence in NexGold’s vision to become a premier Canadian gold producer. As the company advances its feasibility studies and gears up for production, it is poised to capitalize on strong gold market fundamentals and deliver substantial returns for its shareholders.
For more information, refer to this deep dive: https://www.reddit.com/r/wallstreetsmallcaps/comments/1gw2rh5/nexgold_mining_corp_nexgv_nxgcf_announces/
Posted on Behalf of NexGold Mining Corp.