NexGold Mining Corp. (NEXG:TSX.V; NXGCF:OTCQX; TRC1:FSE) Chief Financial Officer (CFO) Orin Baranowsky shared the company's latest developments in a presentation he gave during Red Cloud Securities' 2025 Fall Mining Showcase recently, Analyst Ron Stewart reported in a Nov. 7 conference recap.
Red Cloud has a Buy rating and a CA$4 per share target price on NexGold.
Some of NEXG's Assets
NexGold is a gold-focused explorer-developer whose flagship project, in the development stage, is Goliath in northwestern Ontario. Goliath has 1,300,000 ounces of gold (1.3 Moz) of gold and 1.7 Moz of silver contained in Proven and Probable reserves and the potential for near-term production.
Another of NexGold's projects is the early-stage Niblack copper-gold-silver-zinc volcanogenic massive sulfide project in southeast Alaska. Niblack hosts an Indicated and Inferred resource of 400,000,000 pounds of copper
Previously, NexGold was called Treasury Metals Inc. until it acquired Blackwolf Copper and Gold Ltd. in July 2024.
Goldboro Inches Ahead
According to CFO Baranowsky, the federal approval NexGold just received for its Goldboro project is the last permit needed to proceed with development. As such, the company likely will develop Goldboro before Goliath, and a construction decision should come in the near term. Once Goldboro is up and running, cash flows from it will help fund the subsequent development of Goliath.
NexGold is evaluating options for boosting gold production, noted Baranowsky. Either it could ramp up annual gold production to 150,000 ounces (150 Koz) of gold from 100 Koz or expand mill throughput to eventually produce a total of 200 Koz of gold per year at Goldboro and Goliath.
What to Watch For
Upcoming catalysts for NexGold include an updated mineral resource estimate for Goldboro and a construction decision likely for Goldboro but possibly for Goliath. Completion of a feasibility study of Goliath is expected in Q4/25. Project permitting progress updates are anticipated on an ongoing basis.
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