Billionaire mining investor Frank Giustra shared his views on the gold sector during a recent interview at the 2024 Precious Metals Summit, highlighting the gap between rising gold prices and the undervaluation of mining equities.
He pointed out that this creates a unique opportunity for companies like NexGold Mining Corp. (Ticker: NEXG.v or NXGCF for U.S. investors), which he is a top strategic advisor for. Giustra believes NexGold is well-positioned to attract institutional investment as the market evolves.
Full interview:
NexGold is a Canadian gold exploration company with a key focus on its flagship Goliath Gold Complex located in Northwestern Ontario. This complex, which consists of the Goliath, Goldlund, and Miller deposits, is well-positioned with access to crucial infrastructure such as the Trans-Canada Highway, power, and rail.
This spring NexGold conducted an exploration program at the Complex, targeting several promising areas within its claim blocks. This program included activities such as prospecting, mapping, and channel sampling, with findings like:
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7.13 g/t Au over 2m, including 15.70 g/t Au over 0.75m
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3.18 g/t Au over 2.68m, including 7.53 g/t Au over 0.78m
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5.10 g/t Au over 0.52m
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5.09 g/t Au over 0.47m
These results suggest a larger mineralization system, leading NexGold to expand its ongoing 25,000-meter drill program to include previously underexplored regions of the project, deploying a larger team and implementing new geochemical sampling initiatives.
Further insights into NexGold’s growth potential were provided by President Morgan Lekstrom during a recent webinar hosted by Red Cloud Financial Services.
Lekstrom outlined the company’s near-term production goals, highlighting the Goliath Project's 3-million-ounce gold deposit and potential to produce over 100,000 ounces of gold annually.
NexGold is expected to make a construction decision for the project by Q3 2024, with plans to begin building within 16 months. The company also maintains over $12 million in financial reserves, supported by investors like Frank Giustra, who holds a 10.1% stake.
With a seasoned management team that includes industry veterans and a strong commitment to community partnerships, NexGold continues to expand its exploration efforts with the goal of becoming a mid-tier gold producer.
Full webinar here:
Posted on behalf of NexGold Mining Corp.