'3M oz Gold, Federally Permitted & Solid Infrastructure' Interview Summary - NexGold Mining's (NEXG.v NXGCF) Emerges As Juniors Lag Gold's All Time Highs
Joining the Deep Dive during the 2024 Beaver Creek Precious Metals Conference, NexGold Mining's (NEXG.v NXGCF) CEO, Morgan Lekstrom detailed the state of junior mining companies and the lag in capital flow despite gold hitting all-time highs:
https://www.youtube.com/watch?v=zivEzpaX3lw NexGold's Recent Merger and Asset Acquisition
- Recent merger & acquisition of a 3 million-ounce, federally permitted gold deposit in Northwestern Ontario near the Goliath Gold Complex.
- The project benefits from strong infrastructure, including power lines and proximity to the Trans-Canada Highway.
- The merger was supported by major investors, including Sprott Asset Management, Frank Giustra, and a large US fund, Extract Capital.
- Key investors focus on acquiring assets that have high potential during capital-constrained markets.
Goliath Gold Complex Project and Development Plans
- Federally permitted project, with a pre-feasibility study completed in 2023.
- Key figures from the pre-feasibility study include:
- Estimated NPV of $650 million at $2,150 gold.
- Capital expenditure of $335 million, considered manageable for financing.
- Development-focused strategy:
- Feasibility study to be released in Q1.
- Construction decision expected by Q3.
- 25,000-meter exploration and drilling program aimed at expanding resources and making new discoveries.
Exploration Program
- Phasing a 25,000-meter drilling program:
- 40% focused on new discoveries.
- 60% focused on expanding current resources.
- The land package has only had 10% of its potential explored.
Share Structure and Investor Appeal
- NexGold has a tightly held share structure:
- 76 million shares outstanding.
- 30% of the company held by major investors like Sprott and Frank Giustra.
- 60% of the company is institutionally held.
- Investors should watch for exploration results, development progress, and potential M&A activity.
Long-Term Vision
- NexGold aims to either be producing or have a pipeline to produce 200,000-500,000 ounces of gold per year within the next 4-5 years.
Remaining focused on acquiring creative assets and expanding its resource base, NEXG is aiming to be producing or have a pipeline to produce 200,000 to 500,000 ounces of gold per year within the next 4-5 years, positioning the company for growth with strong backing, infrastructure, and a solid project pipeline.
Posted on Behalf of NexGold Mining Corp.