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New Found Gold ( (TSE:NFG) ) just unveiled an update.
New Found Gold Corp. has released a Preliminary Economic Assessment for its Queensway Gold Project, highlighting a phased mine plan with an initial low capital cost of $155 million and subsequent growth capital of $442 million. The project anticipates early revenue potential with gold production targeted for 2027, pending regulatory approval. The assessment indicates significant leverage to gold prices, with an after-tax NPV increasing substantially if gold prices rise. The project is expected to produce a total of 1.5 million ounces of gold over a 15-year life, with exploration potential for resource expansion. The phased approach aims to generate early cash flow and minimize shareholder dilution, positioning the company favorably within the industry.
The most recent analyst rating on (TSE:NFG) stock is a Buy with a C$3.00 price target. To see the full list of analyst forecasts on New Found Gold stock, see the TSE:NFG Stock Forecast page.
Spark’s Take on TSE:NFG Stock
According to Spark, TipRanks’ AI Analyst, TSE:NFG is a Neutral.
New Found Gold’s overall score reflects significant challenges typical for exploration companies, including lack of revenue and negative technical momentum. However, a strong equity position and promising corporate developments provide potential upside, making it a speculative investment with high risk and potential long-term reward.
To see Spark’s full report on TSE:NFG stock, click here.
More about New Found Gold
New Found Gold Corp. is a company operating in the mining industry, focusing on the exploration and development of gold resources. The company is primarily engaged in the development of the Queensway Gold Project located in Newfoundland and Labrador, Canada, aiming to establish a low-cost, high-margin gold mine.
YTD Price Performance: -22.42%
Average Trading Volume: 443,329
Technical Sentiment Signal: Sell
Current Market Cap: C$500.8M
See more data about NFG stock on TipRanks’ Stock Analysis page.