Stronger and More Diversified Gold Developer Having finalized their merger, NexGold Mining (NEXG.v, NXGCF) and Signal Gold have created a stronger gold developer with substantial near-term production potential, bringing together NEXG's Goliath Gold Complex in Northern Ontario and Signal Gold's Goldboro Project in Nova Scotia, two cornerstone assets poised for significant development.
Kevin Bullock, the new President, CEO, and Director, emphasized that the merger strengthens the company’s balance sheet and positions it to deliver considerable value to shareholders with the restructured financial profile featuring a $12 million facility with Nebari.
Targeting an impressive annual production of 200,000 ounces of gold, this positions NEXG as the next mid-tier gold producer in the making, strategically capitalizing on the rising gold market, with projections that both its projects could reach $1 billion NPV at $2,500/oz gold.
Notably, the Goldboro Project boasts an 11-year mine life with annual gold production of 100,000 ounces, supported by 1.15 million ounces of open-pit probable reserves at an average grade of 2.26 g/t gold.
Similarly, the Goliath Gold Complex contains 1.3 million ounces of proven and probable reserves across 30.3 million tonnes of ore, with a 13-year mine life and over 100,000 ounces of annual production in its first nine years, according to a March 2023 Pre-Feasibility Study.
With a strong financial foundation, robust assets, and experienced leadership, the merged company is targeting annual production of 200,000 ounces of gold. It is well-positioned to advance its flagship projects while unlocking additional exploration potential, paving the way to becoming a leading multi-asset producer.
Full News Release: https://nexgold.com/nexgold-and-signal-gold-complete-business-combination/
Posted on Behalf of NexGold Mining Corp.