Project 88 statements
The deposit 44
Key takeaway. New Found Gold management describes the deposit as a high-grade narrow-vein system with a lower-grade halo around the veins, and vein clusters situated along a major fault zone (Jul 2026).
Read the full summary
The company reports an indicated resource of about 2 million ounces (May 2026), though earlier estimates referenced around a million ounces (Jul 2026) and an average production profile of 69,000 ounces over four years (Mar 2026). Grades are discussed variably: management cites very high grade generally (Apr 2026), about two to two and a half grams (Jul 2026), between 9 and 10 grams per ton (Mar 2026), and 10 to over 12 grams per ton for material in the first couple of years, with 75% of ounces in 25% of tons over the first three years (May 2026).
What was actually said
deposit type
high-grade vein system with a halo around the veins, lower-grade halo, vein clusters along main fault zone
“what I saw was a high-grade vein system with a halo around the veins, lower-grade halo. And uh and you've got these vein clusters along this main fault zone.”
Keith Boyle·
13 Jul 2026·
exploration upside
two to and a half million ounces
“it'll be a couple million ounces, two and a half, somewhere in that neighborhood”
Keith Boyle·
13 Jul 2026·
grade
about two to and a half grams
“it'll be a couple million ounces, two and a half, somewhere in that neighborhood, about two to and a half grams”
Keith Boyle·
13 Jul 2026·
Show the other 41 statements
resource size
around a million ounces
“resource estimate came out at something like 17 uh pits uh and got us to like around a million ounces”
Keith Boyle·
13 Jul 2026·
exploration upside
expanded drill program up to 90,000 m with 45% focused on new discoveries and resource growth
“we just announced an expanded drill program up to 90,000 m this year, where 45% of it is focused on new discoveries and resource growth”
Keith Boyle·
26 Jun 2026·
resource size
Hammerdown 20 to 25,000 oz a year production
“production profile somewhere between 20 and 25,000 oz a year at all-in sustaining of 2,500 bucks”
Keith Boyle·
26 Jun 2026·
deposit type
narrow vein
“because um of it being a narrow vein uh a narrow vein deposit, um grade control is [snorts] what's critical”
Keith Boyle·
11 Jun 2026·
exploration upside
90,000 m drill campaign
“we are now exploring with a 90,000 m drill campaign.”
Keith Boyle·
11 Jun 2026·
exploration upside
110 km long property with multiple targets
“Remember now we've got a property that's 110 km long. You know that's the size of the Abitibi.”
Keith Boyle·
11 Jun 2026·
exploration upside
historical discovery cost about 100 just under $100 an oz
“Our historical cost is about 100 just under $100 an oz discovery.”
Keith Boyle·
11 Jun 2026·
deposit type
gold veins and faults in mineralized damage zone around Appleton fault
“the red wireframes are our vein, our gold veins and faults that form this mineralized damage zone around the Appleton”
Melissa Render·
05 Jun 2026·
exploration upside
significant upside below the existing resource model
“We've also got uh significant upside below um the existing um uh resource model”
Melissa Render·
05 Jun 2026·
grade
10 to over 12 g a ton material in the first couple of years
“Queensway in the first couple of years will be processing 10 to over 12 g a ton material”
Keith Boyle·
19 May 2026·
resource size
100,000 oz from Queensway alone in first couple of years
“we're targeting in the first [snorts] couple of years you know, 100 100,000 oz from Queensway alone”
Keith Boyle·
19 May 2026·
deposit type
high-grade narrow vein gold with pods along major fault zone
“there's a large fault so a big crack in the earth that uh that is where the fluids came up and on either side of that crack is where the gold deposits”
Keith Boyle·
13 May 2026·
exploration upside
Dropkick zone 11 kilometers to the north of current resource and mine plan
“It's a zone called the dropkick 11 kilometers or 7 milesi to the north of uh the current resource and mine plan.”
Keith Boyle·
13 May 2026·
exploration upside
110 km long strike, exploration potential along major fault zone to depth, zone hit down to a kilometer depth
“the 110 kilometers or 65 miles uh of uh of length. And so the exploration we're seeing is that we're just walking along that uh that large fault”
Keith Boyle·
13 May 2026·
grade
10 to 12 and a half grams a ton for first three years; 75% of ounces in 25% of tons
“The first three years of mining will be uh um generating uh production at 10 to 12 and a half grams a ton.”
Keith Boyle·
13 May 2026·
resource size
2 million ounces
“We put out a resource of uh 2 million ounces.”
Keith Boyle·
13 May 2026·
grade
very high grade
“People can go and look at the recent releases we had um for the the um grade control drilling we did at Queensway uh at Keith's zone and we'll see the very high grade that uh will be coming out in that first year of production.”
Keith Boyle·
20 Apr 2026·
resource size
about 100,000 oz a year first couple of years
“the first couple of years we're looking at about 100,000 oz a year at an all-in sustaining of about $1,300.”
Keith Boyle·
20 Apr 2026·
resource size
69,000 ounces average over four years
“the average of four years will be uh uh 69,000 ounces according to the PA”
Keith Boyle·
05 Mar 2026·
deposit type
vein deposit
“uh vein mining um two things you you can't uh uh you can't or you must do”
Keith Boyle·
03 Mar 2026·
exploration upside
dropkick which was 11 kilometers north of our resource
“we announced dropkick which was 11 kilometers north of our resource um an area that's really nicely emerging”
Keith Boyle·
03 Mar 2026·
exploration upside
expiration property package that's uh well, I would say second to none
“we've got an expiration property package that's uh well, I would say second to none and lots of upside potential, camp potential.”
Keith Boyle·
03 Mar 2026·
grade
between 9 and 10 g a ton
“Shipping on average between 9 and 10 g a ton or ship trucking 9 or 10 g along the TransCanada Highway.”
Keith Boyle·
03 Mar 2026·
deposit type
Hammerdown, Queensway, Pine Cove historic deposits and historic mines
“We have uh assets in Newfoundland uh on the island of Newfoundland and uh we've got our Queensway asset which is our flagship and uh recently acquired Hammerdown gold project”
Keith Boyle·
26 Feb 2026·
exploration upside
Lots of exploration upside with a vast property package in a very high-grade gold district
“Lots of exploration upside with a vast property package in a very high-grade gold district.”
Keith Boyle·
26 Feb 2026·
exploration upside
110 kilometers of strike and less than 10 kilometers explored
“110 kilometers of strike and we've just explored less than 10.”
Hashim Ahmed·
10 Feb 2026·
deposit type
high-grade gold project
“we've got our Queensway gold project which is a high-grade uh gold project”
Keith Boyle·
02 Feb 2026·
exploration upside
discovered uh or expanded a discovery called dropkick
“we also did exploration and we discovered uh or expanded a discovery called dropkick”
Keith Boyle·
02 Feb 2026·
resource size
1.5 million ounces to be produced at full life of mine over a 15-year period
“a open pit and underground mine. Uh full life of mine over a 15-year period at 1.5 million ounces to be produced”
Keith Boyle·
02 Feb 2026·
deposit type
small quarrying operation
“With the Queen's Way um really is a straightforward project at the site. It's a small quarrying operation.”
Robert Assabgui·
31 Jan 2026·
deposit type
high-grade core at Queensway
“starting with this high-grade core with a mill offsite”
Keith Boyle·
27 Jan 2026·
deposit type
Queensway project (flagship), Hammerdown mine, Dropkick exploration
“an emerging gold producer with the ramp up of the Hammerdown mine and development of our uh flagship Queensway project”
Keith Boyle·
12 Jan 2026·
exploration upside
Dropkick results released; 70,000 meter drill campaign with 80% on project, 20% exploration
“we were we released some really good results up at Dropkick”
Keith Boyle·
12 Jan 2026·
deposit type
high-grade core veins
“we see the deposit at Queensway, we uh have a very uh positive unique, I'll say, characteristic of high-grade core veins.”
Keith Boyle·
05 Dec 2025·
exploration upside
Target 11 kilometers north of the resource called Dropkick with spectacular results
“We announced about a month ago the drill results of a target 11 kilometers north of the resource called Dropkick.”
Keith Boyle·
05 Dec 2025·
exploration upside
70,000 meters of drilling being completed with 80% project related
“this year we did uh or we're doing finishing 70,000 mters of drilling. Uh 80% of that drilling is I'll call it project related”
Keith Boyle·
05 Dec 2025·
exploration upside
Grade control drilling at 5 meter centers with 20% of results released
“we're drilling at 5 meter centers in the area where we will begin mining and they were it was only 20% of the results that we're expecting.”
Keith Boyle·
05 Dec 2025·
resource size
Inferred resource to be upgraded to indicated through infill drilling
“we will have infilled all the, you know, the infilled the pit the resources, upgraded, inferred to indicated”
Keith Boyle·
05 Dec 2025·
deposit type
high-grade deposit, small deposit
“So, first of all, as I mentioned, we become a producer. So, you know, it's a a high-grade deposit. Um, small deposit, but still high-grade”
Keith Boyle·
13 Nov 2025·
exploration upside
over 200,000 ounces
“Then phase two, which comes uh after that in five, call it six years actually from today. Um in 6 years, uh over 200,000 ounces.”
Keith Boyle·
13 Nov 2025·
resource size
over 100,000 ounces
“So, you know, we have a clear line of sight now with this production added to Queensway. First phase one is over 100,000 ounces.”
Keith Boyle·
13 Nov 2025·
Jurisdiction 25
Key takeaway. New Found Gold's projects are located in Newfoundland and Labrador, Canada, near the communities of Appleton and Gander, a point management repeated across multiple interviews from December 2025 through July 2026.
Read the full summary
On the permitting front, management reported in February 2026 that the Pine Cove mill and tailings are fully permitted; by July 2026 they said permit amendments for Pine Cove had been received and that the Environmental Protection Plan (EPR) process for Queensway is underway. They noted in May 2026 that an early works permit is expected toward the end of the third quarter, and in January 2026 they said they were at the environmental assessment document writing stage with an application submission planned, working with the same engineers as Firefly and with support from the Newfoundland government.
What was actually said
permit status
received permit amendments for Pine Cove; EPR process underway for Queensway
“we received the permit amendments for Pine Cove in order to go about that construction”
Keith Boyle·
08 Jul 2026·
region
near the community of Appleton and then Gander
“greenfield site near a community near the community of Appleton and then Gander”
Keith Boyle·
08 Jul 2026·
country
Canada
“New Found Gold has assets on the island of Newfoundland in the province Newfoundland Labrador.”
Keith Boyle·
11 Jun 2026·
Show the other 22 statements
region
Newfoundland and Labrador
“New Found Gold has assets on the island of Newfoundland in the province Newfoundland Labrador.”
Keith Boyle·
11 Jun 2026·
region
central Newfoundland
“our Queensway exploration project located in central land”
Melissa Render·
05 Jun 2026·
country
Canada
“advancing our Queensway Gold project uh in uh Newfoundland Labrador on the island of Newfoundland uh just outside of Gander”
Keith Boyle·
19 May 2026·
permit status
early works permit expected towards end of third quarter
“our um early works permit will come in towards the uh end of the third quarter”
Keith Boyle·
19 May 2026·
region
Newfoundland and Labrador, Newfoundland island, near Gander
“advancing our Queensway Gold project uh in uh Newfoundland Labrador on the island of Newfoundland uh just outside of Gander”
Keith Boyle·
19 May 2026·
country
Canada (Newfoundland)
“Newfoundland has a history of uh being very efficient in providing the permits.”
Keith Boyle·
13 May 2026·
country
Canada
“New Found has properties in on the island of Newfoundland in the province of Newfoundland Labrador.”
Keith Boyle·
20 Apr 2026·
region
Newfoundland, Newfoundland and Labrador
“New Found has properties in on the island of Newfoundland in the province of Newfoundland Labrador.”
Keith Boyle·
20 Apr 2026·
region
Newfoundland, Labrador on the island of Newfoundland
“We have assets in uh Newfoundland, Labrador on the island of Newfoundland”
Keith Boyle·
05 Mar 2026·
country
Newfoundland
“We have uh properties in Newfoundland, assets in Newfoundland.”
Keith Boyle·
03 Mar 2026·
country
Newfoundland, Canada
“We have uh assets in Newfoundland uh on the island of Newfoundland”
Keith Boyle·
26 Feb 2026·
permit status
fully permitted mill and tailings at Pine Cove
“a fully permitted mill and tailings over at Pine Cove.”
Keith Boyle·
26 Feb 2026·
country
Canada
“Newfound Gold is in Newfoundland which is I think probably one of the best provinces to establish your next mine.”
Hashim Ahmed·
10 Feb 2026·
region
Newfoundland
“Newfound Gold is in Newfoundland which is I think probably one of the best provinces to establish your next mine.”
Hashim Ahmed·
10 Feb 2026·
country
Canada
“property package in on the island of Newfoundland the Newfoundland Labrador and Canada”
Keith Boyle·
02 Feb 2026·
region
Newfoundland and Labrador
“property package in on the island of Newfoundland the Newfoundland Labrador and Canada”
Keith Boyle·
02 Feb 2026·
permit status
environmental assessment document writing stage; application submission planned
“the environmental assessment uh the environmental assessment uh that work it's really we're in the document writing stage at this point”
Keith Boyle·
27 Jan 2026·
community agreement
Newfoundland government supportive; working with same engineers as Firefly for EA process
“the government's been great and uh that efforts being led by Jared Saunders...and they're working really well together”
Keith Boyle·
12 Jan 2026·
country
Newfoundland
“New Found Gold uh has assets in Newfoundland and we're advance and we're developing”
Keith Boyle·
12 Jan 2026·
country
Canada
“We have assets in Newfoundland, Canada.”
Keith Boyle·
05 Dec 2025·
region
Newfoundland
“We have assets in Newfoundland, Canada.”
Keith Boyle·
05 Dec 2025·
country
Newfoundland
“out in uh Newfoundland, we have a property, the Queensway property.”
Keith Boyle·
13 Nov 2025·
Technical risk 19
Key takeaway. Management has laid out several key assumptions underpinning its technical plans, alongside acknowledged risks.
Read the full summary
The company assumes converting the Pine Cove mill to a gravity CIL circuit and expanding throughput from 700 to 1,400 tons per day, describing the process as "straightforward; done everywhere; not very complicated." It also assumes mineralization continues from 600 m vertical depth down to over a kilometer, and that a tight 5×5 meter drill pattern for the first two to three years will show grades generally better than the block model. On the risk side, management cites the need to move a power line over the next 18 months to enable mining at Queensway, and notes that the project requires an overrun facility for possible cost overruns.
What was actually said
key assumption
converting the mill over to gravity CIL from the current process, and then expanding it
“converting the mill over to gravity CIL from the current process, and then expanding it”
Keith Boyle·
08 Jul 2026·
key assumption
700 tons a day mill throughput
“in the PEA we have 700 tons a day.”
Keith Boyle·
11 Jun 2026·
recovery rate
high 80s
“Um the recovery's in the high 80s.”
Keith Boyle·
11 Jun 2026·
Show the other 16 statements
key assumption
mineralization continues at depth from 600m vertical down to over a kilometer
“this mineralization runs from about I want to say 600 m vertical down to over a kilometer but that program did prove that the system continues at depth”
Melissa Render·
05 Jun 2026·
key assumption
processing mill capacity expanded from 700 to 1,400 tons a day
“mill is uh currently uh processing 700 tons a day. It'll be expanded. It'll be doubled to 1,400 tons a day to accept the Queensway”
Keith Boyle·
19 May 2026·
stated risk
power line moving over next 18 months to enable mining at Queensway
“Hydro is moving that over the next 18 months for us to start mining”
Keith Boyle·
19 May 2026·
key assumption
tight 5x5 meter center drilling pattern for first two to three years of production shows grades generally better than block model
“we did last year and uh to derisk that initial two to three years of production was drill out on a 5x5 meter center pattern. So very tight drilling”
Keith Boyle·
13 May 2026·
key assumption
first couple of years about 100,000 oz a year at all-in sustaining of about $1,300
“the first couple of years we're looking at about 100,000 oz a year at an all-in sustaining of about $1,300.”
Keith Boyle·
20 Apr 2026·
stated risk
project risk requiring overrun facility for possible cost overruns
“we have that risk, especially in the world we're living today. So, we felt it important to put in, you know, enough of an overrun facility”
Keith Boyle·
20 Apr 2026·
key assumption
trucking cost plus processing is about a gram
“Well, the cost of trucking plus processing is about a gram.”
Keith Boyle·
03 Mar 2026·
key assumption
5x5 meter center drill pattern for grade control
“I mandated a 5x5 meter center drill pattern, grade control drill pattern, where we're going to start mining.”
Keith Boyle·
03 Mar 2026·
key assumption
trucking 700 tons a day at between 9 and 10 gram a ton on average from Queensway to Pine Cove
“what we're trucking is 700 tons a day at between 9 and 10 gram a ton on average.”
Keith Boyle·
26 Feb 2026·
key assumption
dilution does to a vein deposit
“better I think better reflect what uh dilution does to a vein deposit”
Keith Boyle·
02 Feb 2026·
key assumption
gravity CIL process; straightforward; done everywhere; not very complicated
“It's fairly straightforward. It's gravity uh gravity CIL uh process. It's it's something that's done everywhere and it's not very complicated.”
Robert Assabgui·
31 Jan 2026·
key assumption
conversion of Pine Cove mill from grind flotation regrind leech circuit to gravity leech circuit
“we're converting that to a full gravity leach circuit which is the nugget pond”
Keith Boyle·
27 Jan 2026·
key assumption
Hammerdown feasibility study from 2022 outdated; additional drilling since then; different milling approach
“Hammerdown uh you know it had a feasibility study that was uh put out in 2022 and uh so it's a bit outdated. There's been more drilling that's happened uh since then.”
Keith Boyle·
12 Jan 2026·
key assumption
700 ton a day operation at mill
“when we put out the pea, we said we're going to start with a 700 ton a day operation at a mill somewhere in Newfoundland.”
Keith Boyle·
05 Dec 2025·
key assumption
Grade control critical for narrow veins and nuggety gold deposits
“when you mine narrow veins and you know we hear the words nuggety gold and whatnot, geologists have to estimate between two data points the amount of gold between them.”
Keith Boyle·
05 Dec 2025·
key assumption
toll milling or milling at a a third party mill
“in our uh Queensway project pre uh preliminary uh economic assessment, uh we had assumed uh toll milling or milling at a a third party mill.”
Keith Boyle·
13 Nov 2025·
Economics 55 statements
Economics 33
Key takeaway. Management has given a range of cost and production figures for the Queensway and Hammerdown projects across several months.
Read the full summary
For Queensway, they cited an initial capital expenditure of about $155 million (Apr, Jun, Jul 2026) and said it would be less than $200 million (May 2026), describing it as roughly double the size of the Pine Cove mill (Jun 2026). All-in sustaining costs for Queensway were quoted as about $1,300 in March through May 2026, but a later statement from July 2026 gave $2,500 all-in sustaining for a 700-ton-a-day mine. Hammerdown was cited at 20,000–25,000 ounces a year with an all-in sustaining cost of $2,500 (May, Jun 2026). The company is targeting 100,000 ounces a year initially and then 200,000 ounces a year by around 2031 (Jun 2026), and reported an after-tax NPV of 2.8 to 3 billion Canadian (May 2026).
What was actually said
capex
$155 million
“So we came up with a capex of $155 million to do that.”
Keith Boyle·
13 Jul 2026·
operating cost
2,500 bucks all-in sustaining
“it'll be a run rate of about 20 to 25,000 oz a year at an all-in sustaining of 2,500 bucks”
Keith Boyle·
13 Jul 2026·
operating cost
700-ton-a-day mine to be built at Queensway
“go over and bring that experience and knowledge to Queensway to do what? Build a 700-ton-a-day mine”
Keith Boyle·
26 Jun 2026·
Show the other 30 statements
operating cost
all-in sustaining of 2,500 bucks or thereabouts at Hammerdown
“production profile somewhere between 20 and 25,000 oz a year at all-in sustaining of 2,500 bucks or thereabouts”
Keith Boyle·
26 Jun 2026·
operating cost
700-ton-a-day mine at Hammerdown
“a 700-ton-a-day mine”
Keith Boyle·
26 Jun 2026·
price assumption
targeting 100,000 oz a year plus production, then 200,000 oz a year by towards 2031
“we're looking at targeting 100,000 oz a year plus and then looking at later, you know, at towards 2031 when Queensway will be expanded, looking at targeting that 200,000 oz a year target”
Keith Boyle·
26 Jun 2026·
capex
155 million
“in our PEA of last year, um, we, you know, showed phase one at Queensway, where, uh, we have, uh, CapEx of 155 million to get to production.”
Keith Boyle·
11 Jun 2026·
capex
double the size of Pine Cove mill
“firstly uh that uh we were we've decided to expand the Pine Cove mill, so double the size of it to accept Queensway”
Keith Boyle·
11 Jun 2026·
operating cost
20 to 25,000 oz a year at $2,500 all-in sustaining
“a run rate of 20 to 25,000 oz a year at $2,500 all-in sustaining”
Keith Boyle·
11 Jun 2026·
price assumption
$2,500 all-in sustaining
“a run rate of 20 to 25,000 oz a year at $2,500 all-in sustaining”
Keith Boyle·
11 Jun 2026·
aisc
$1,300
“all-in sustaining of $1,300 based on the based on the PA that we put out last year”
Keith Boyle·
19 May 2026·
operating cost
100,000 oz from Queensway alone in first couple of years at an all-in sustaining of $1,300
“100,000 oz from Queensway alone. And plus you add that to the Hammerdown...at an all-in sustaining of $1,300”
Keith Boyle·
19 May 2026·
price assumption
based on the PA that we put out last year
“all-in sustaining of $1,300 based on the based on the PA that we put out last year”
Keith Boyle·
19 May 2026·
aisc
$1,300 an ounce for Queensway; $2,500 an ounce US for Hammerdown
“At an all-in sustaining of $1,300 an ounce, we're talking at today's price is over $300 million uh a year cash flow.”
Keith Boyle·
13 May 2026·
capex
155 million outlined in PEA, looking at less than $200 million
“our pea outlined a capital cost of 155 million. Uh it'll be a little bit higher. We're updating that now. Uh but uh but we're looking at less than $200 million”
Keith Boyle·
13 May 2026·
npv
2.8 to 3 billion Canadian
“So the overall net present value uh at today's prices we can say it's about because we haven't we're not able to really calculate them but call it plus or minus we're about 2.8 to3 billion Canadian”
Keith Boyle·
13 May 2026·
operating cost
Hammerdown 20 to 25,000 ounces a year at all-in sustaining of $2,500 an ounce
“Steady state production of that is about 20 to 25,000 ounces a year. Add an all- in sustaining of about 24 $2,500 an ounce US.”
Keith Boyle·
13 May 2026·
aisc
about $1,300
“the first couple of years we're looking at about 100,000 oz a year at an all-in sustaining of about $1,300.”
Keith Boyle·
20 Apr 2026·
capex
155 million Canadian dollars
“that package that we've now put together uh funds our capital cost of uh 155, which we announced last year in our PEA, all Canadian dollars, 155 million Canadian”
Keith Boyle·
20 Apr 2026·
operating cost
$1,300 all in sustaining
“and uh at all in sustaining of $1,300”
Keith Boyle·
05 Mar 2026·
price assumption
at today's prices
“at today's prices, uh you're looking at $400 million Canadian free cash flow”
Keith Boyle·
05 Mar 2026·
capex
phase 2 has inpit tailings deposition
“Our Phase 2 has in-pit tailings deposition. In other words, we're not building a tailings dam.”
Keith Boyle·
03 Mar 2026·
operating cost
all in sustaining of $1,300
“you're looking at uh over $250 million of uh of free cash flow all in sustaining of $1,300 all in sustaining.”
Keith Boyle·
03 Mar 2026·
payback
over $250 million of uh of free cash flow over that first four years
“you're looking at uh over $250 million of uh of free cash flow over that first four years”
Keith Boyle·
03 Mar 2026·
price assumption
at today's gold prices
“we'll generate cash flow especially at today's gold prices”
Keith Boyle·
03 Mar 2026·
capex
close to $900 million for large plant
“the capex on a large plant that we had in the PA was somewhere close to $900 million.”
Keith Boyle·
26 Feb 2026·
operating cost
around $1,300 all-in sustaining
“if you look at the all- in sustaining, you know, somewhere around $1,300.”
Keith Boyle·
26 Feb 2026·
aisc
$1,256 US at initial phase, less than $1,100 an ounce at phase with 7,000 tons per day
“all in sustaining cost of $1,256 US. It's phased. We're starting small, small capex, 155 million, growing that to uh use the cash flow then from that smaller 700 ton a day, 9.6 g material being sent to a mill offsite. um and using that cash flow to then grow it to 7,000 tons per day or 172,000 ounces a year at an all- in sustaining cost of less than $1,100 an ounce”
Keith Boyle·
02 Feb 2026·
irr
high return at $2,500 all-in sustaining
“we reported our initial ME and then followed it closely with a a pea that demonstrated a high return at $2,500 all-in sustaining”
Keith Boyle·
02 Feb 2026·
key assumption
7 to 10 years of operating several deposits
“outline our vision of uh of the uh opportunity that uh that we have in front of us uh uh you know over the course of 7 to 10 years of operating several deposits.”
Robert Assabgui·
31 Jan 2026·
capex
mill expansion to 1,400 tons a day using equipment from Nugget Pond and additional equipment
“we're going to expand the mill at Pine Cove uh using the equipment from Nugget Pond uh in addition to uh you know supplementing that equipment and expanding the mill to uh up to 1,400 tons a day”
Keith Boyle·
27 Jan 2026·
capex
155 million
“with a capital cost, initial capital cost of 155 million as outlined in our PA”
Keith Boyle·
05 Dec 2025·
capex
$155 million
“Queensway phase one, you know, the PA outlined $155 million.”
Keith Boyle·
13 Nov 2025·
Financing 22
Key takeaway. Over several months in 2026, New Found Gold's management has given varying figures on the capital needed for the Queensway project.
Read the full summary
In January and February 2026, the company said it needed project financing for Queensway development and a total of $155 million. By April, May and June 2026, management had raised $220 million through a combination of debt and equity — with $115 million of equity raised alongside Eric Sprott — and described the project as fully funded. However, management also stated in May and July 2026 that the capital needed was $155 million, while noting a cash position of $185 million in May and then $40 million cash flow in July. The company reports having a $105 million facility in two tranches (US$75 million replaced with a similar debt facility plus equity) and described itself as fully funded in both June and July 2026, though the cash and capital figures vary across these statements.
What was actually said
capital needed
$155 million
“Queensway at the CAPEX of 155 million”
Keith Boyle·
13 Jul 2026·
cash position
$40 million cash flow
“And that'll be a run rate of about 20 to 25,000 oz a year at an all-in sustaining of 2,500 bucks. So that's important for a single asset company. Effectively, because now the cash is coming this way. So about $40 million dollars cash flow”
Keith Boyle·
13 Jul 2026·
financing status
Fully funded
“Fully funded, so we we were talking with Sean Roosen earlier”
Keith Boyle·
13 Jul 2026·
Show the other 19 statements
capital needed
$220 million raised to put Queensway into production
“we went and raised $220 uh to be able to put it into production”
Keith Boyle·
26 Jun 2026·
financing status
fully funded for Queensway
“we're now fully funded and uh and we're advancing the early works of the mill expansion”
Keith Boyle·
26 Jun 2026·
capital needed
220 million dollars
“like um uh people saw in April, we raised 220 million dollars uh in order to execute on Queensway phase one, get to production end of '27.”
Keith Boyle·
11 Jun 2026·
capital needed
44 million
“uh to a budget of 44 million which is fully funded”
Melissa Render·
05 Jun 2026·
capital needed
155 million dollars
“Our PEA, if you recall, the capex on that was 155 million dollars”
Keith Boyle·
19 May 2026·
cash position
185 million dollars
“So we've now got really good anchor investors...70 million dollars...115...we're up to 185 million dollars”
Keith Boyle·
19 May 2026·
dilution
115 million dollars equity raised alongside Eric Sprott
“they came in with a sizable equity portion of the 115 million dollars that we raised and closed on just recently alongside Eric Sprott”
Keith Boyle·
19 May 2026·
financing status
105 million dollar facility in two tranches, 70 million first, 35 million second, plus 115 million equity raised
“replaced that with a total of a $105 million dollar facility in two tranches, 70 million first, 35 million second...115 million dollars that we raised”
Keith Boyle·
19 May 2026·
capital needed
less than $200 million
“we're looking at less than $200 million uh to invest uh to generate that kind of return.”
Keith Boyle·
13 May 2026·
financing status
raised 220 million both debt and equity; equity portion 115 million with Edge Point as debt and equity partner alongside Eric Spratt
“we raised uh um uh $220 million uh both debt and equity and in the equity portion of 115 he came in with his prata share of near 20%.”
Keith Boyle·
13 May 2026·
capital needed
155 million Canadian dollars
“that package that we've now put together uh funds our capital cost of uh 155, which we announced last year in our PEA, all Canadian dollars, 155 million Canadian”
Keith Boyle·
20 Apr 2026·
financing status
US $75 million debt facility replaced with similar debt facility plus equity
“we announced uh about a month ago um a term sheet for a US $75 million uh debt uh facility. Um subsequent to that uh we had an inbound uh an inbound offer to not only match or better the terms of that uh facility, but also provide us with equity.”
Keith Boyle·
20 Apr 2026·
capital needed
155 million Canadian
“our initial capex for phase one of Queensway uh is uh was 155 million Canadian”
Keith Boyle·
05 Mar 2026·
financing status
75 million US debt facility announced
“we uh just announced a term sheet uh signing of a term sheet for up to 75 million US debt”
Keith Boyle·
05 Mar 2026·
financing status
in discussions with project financing facility
“we're in discussions with now because yeah, we have production and we'll have cash flow.”
Keith Boyle·
26 Feb 2026·
capital needed
155 million
“small capex, 155 million, growing that to uh use the cash flow then from that smaller”
Keith Boyle·
02 Feb 2026·
cash position
87 million in the treasury at the end of September
“we raised uh over $83 million last year and we have 87 million in the treasury currently at the end of September rather”
Keith Boyle·
02 Feb 2026·
capital needed
project financing needed for Queensway development
“we've got uh we hired Cutfield Freeman late last year because we do have to raise some project financing to develop Queens Queen's Way”
Keith Boyle·
12 Jan 2026·
cash position
$87 million raised in 2025
“we were able to then uh finance raise $87 million of uh uh both flow through and hard money”
Keith Boyle·
12 Jan 2026·
Timeline 71 statements
Timeline 66
Key takeaway. Management has outlined a phased timeline across multiple projects.
Read the full summary
At Hammerdown, commercial production is targeted for the second half of 2026 (stated in both May and June 2026). At Queensway, construction is expected to start in summer 2026, with the company having broken ground in May and anticipating receipt of an early works permit by the end of the third quarter (May 2026). First ore to the mill at Queensway is forecast for the fourth quarter of 2027, with the mill expansion and acceptance both targeted for late 2027 (July 2026). Production is expected to ramp from about 100,000 ounces in the first three years to roughly 170,000–172,000 ounces annually thereafter (May 2026).
What was actually said
construction start
broke ground in May, construction at Queensway next year
“We broke ground in May. We're pouring concrete. So, we're on that track now to finish the expansion of the mill and then at Queensway itself, the site development is quite small. It's quite simple. It's about a 6-month development program. So, we'll be in construction next year.”
Keith Boyle·
13 Jul 2026·
first production
commercial production in a couple of months, few months from Hammerdown, first ore to the mill from Queensway is anticipated for the fourth quarter of 27
“We're going to be in commercial production in a couple of months, few months. And that'll be a run rate of about 20 to 25,000 oz a year at an all-in sustaining of 2,500 bucks.”
Keith Boyle·
13 Jul 2026·
milestone
Mill expansion finished by fourth quarter of next year, first ore to mill fourth quarter of 27, production jump to 100-125 oz in 28, 175-200,000 oz in 2031
“that timeline is finished by fourth quarter of next year. ... that first ore to the mill will is anticipated for the fourth quarter of 27. ... In 28, once Queensway's in production, now that jumps to 100 to 125. Then phase two and three, the bigger mill at site and the underground, in 2031, that then jumps to 175 to 200,000 oz a year.”
Keith Boyle·
13 Jul 2026·
Show the other 63 statements
first production
fourth quarter of next year
“first ore production for our first uh uh big uh being sent to the mill uh from Queensway later next year, fourth quarter of next year.”
Keith Boyle·
08 Jul 2026·
milestone
first Queensway material reaching clean cap by Q4 2027
“the first Queensway material reaching clean cap by Q4 2027”
Keith Boyle·
08 Jul 2026·
milestone
Queensway mill acceptance late next year
“retooling of Pine Cove and then subsequent expansion of Pine Cove to be able to then accept Queensway late next year”
Keith Boyle·
26 Jun 2026·
milestone
Hammerdown commercial production in second half of this year
“we're looking at declaring commercial production in the second half of this year, early in the second half of this year”
Keith Boyle·
26 Jun 2026·
permit timing
EA decision by early July
“we will uh you know, we do expect uh a decision uh by early July”
Keith Boyle·
26 Jun 2026·
first production
end of next year
“we are now targeting towards the end of uh next year”
Keith Boyle·
11 Jun 2026·
milestone
fourth quarter early works and test pitting at Queensway
“And that will take us into probably the fourth quarter, I would say, uh, where we will then be able to start, uh, some early works, where in test pitting”
Keith Boyle·
11 Jun 2026·
milestone
commercial production in second half of this year
“Hammerdown is uh ramping up. We'll be in commercial production uh next half of this year.”
Keith Boyle·
11 Jun 2026·
milestone
90,000 meters planned
“overall we've got about 90,000 meters planned”
Melissa Render·
05 Jun 2026·
milestone
four drills at beginning of January, ramping up to six drills with pivot to exploration
“we started up with four drills at the beginning of January mostly project focused. Um now we are looking to ramp up here and actually it's happening as we speak with two additional drills coming bringing us to six”
Melissa Render·
05 Jun 2026·
milestone
production towards the end of 2027
“towards continuing to de-risk the project as we advance towards um production towards the end of 2027”
Melissa Render·
05 Jun 2026·
first production
latter part of 2027
“targeting the uh latter part of 2027”
Keith Boyle·
19 May 2026·
milestone
Hammerdown ramp-up to commercial production targeted for second half of this year
“ramping up our Hammerdown Gold mine uh to commercial production targeted for the second half of this year”
Keith Boyle·
19 May 2026·
milestone
breaking ground at Queensway project after early works permit
“by that time, we'll be ready to then start uh breaking ground at the Queensway project itself”
Keith Boyle·
19 May 2026·
milestone
build period targeting towards the end of 2027, call it 18 months
“build period we're targeting towards the end of 2027, so call it 18 months”
Keith Boyle·
19 May 2026·
milestone
breaking ground at Pine Cove by end of second quarter this year
“breaking ground uh at Pine Cove, which we're expecting uh by the end of the second quarter of this year”
Keith Boyle·
19 May 2026·
permit timing
early works permit by end of third quarter
“early works permit will come in towards the uh end of the third quarter”
Keith Boyle·
19 May 2026·
first production
first three years targeting 100,000 ounces per year; larger operation 170 to 172,000 ounces per year thereafter
“The first three years of mining will be uh um generating uh production at 10 to 12 and a half grams a ton. So, we're targeting 100,000 ounces for those first three years.”
Keith Boyle·
13 May 2026·
milestone
Environmental assessment completion for Queensway; technical report update; formal investment decision; mill expansion doubling to 1,400 tons a day by end of next year; Hammerdown commercial production second half of this year
“getting the environmental assessment completed for the Queensway project. The second part is then updating the technical report at uh Queensway”
Keith Boyle·
13 May 2026·
first production
end of 2027
“Our Queensway project is our flagship uh that we're advancing uh through development and targeting uh first production end of '27.”
Keith Boyle·
20 Apr 2026·
milestone
permit amendments at Pine Cove within 6 weeks
“we'll have our permit amendments at Pine Cove in order to start construction shortly. I'll say within uh the next 6 weeks.”
Keith Boyle·
20 Apr 2026·
milestone
environmental assessment application submitted by end of month
“we'll be uh submitting our application for environmental assessment very shortly uh targeting by the end of this month uh for Queensway.”
Keith Boyle·
20 Apr 2026·
milestone
Queensway production middle to third quarter next year
“we'll then uh be able to start production at uh Queensway towards middle to third quarter of the next year”
Keith Boyle·
20 Apr 2026·
milestone
construction start this summer
“we'll start construction uh this summer and through through the winter”
Keith Boyle·
20 Apr 2026·
first production
end of next year
“get to cash flow by the end of next year”
Keith Boyle·
05 Mar 2026·
permit timing
environmental assessment permit probably in April
“we're going to be submitting our environmental assessment permit probably in April”
Keith Boyle·
05 Mar 2026·
first production
Queensway anticipated towards the end of 27
“Our flagship Queensway project is uh fasttracking to production anticipated towards the end of 27”
Keith Boyle·
03 Mar 2026·
milestone
drill 90 to 100,000 mters this year, 75% project related
“So uh so we'll drill you know in that 100,000ish okay neighborhood you know 90 to 100,000 but 75% of it project related.”
Keith Boyle·
03 Mar 2026·
milestone
end of next year send Queensway material to Pine Cove Mill
“and so for us, the acquisition of maritime uh one gave us the hammer down line that is ramping up now and so we'll generate cash flow especially at today's gold prices and that'll help with what we have to do. one saves us going back to market, you know, not have to raise the money to to just operate. >> But then two, we have the Pine Cove Mill, we have the Nugget Pond Gold Circuit. So, our plan is to bring the Nugget Pond Gold Circuit over. >> Mhm. >> We'll get better recoveries out of Hammertown and then expand it, double the size to 1,400 tons a day. And that's when we'll ship Queensway which is planned for the end of next year.”
Keith Boyle·
03 Mar 2026·
milestone
expand Pine Cove Mill double the size to 1,400 tons a day
“We'll get better recoveries out of Hammertown and then expand it, double the size to 1,400 tons a day.”
Keith Boyle·
03 Mar 2026·
milestone
first pour from Hammerdown announced on November 12th
“The first pour from Hammerdown itself was announced on November 12th,”
Keith Boyle·
03 Mar 2026·
milestone
four drills turning now and ramp up to six, seven drills in the summer
“We've got four drills turning now and ramp up to six, seven drills in the summer when you have more uh more ground that you can go without removing all the snow and adding costs where you don't need to.”
Keith Boyle·
03 Mar 2026·
milestone
Pine Cove Mill started up in March last year
“The Pine Cove Mill uh started up in March last year, but on stockpiles”
Keith Boyle·
03 Mar 2026·
milestone
mining 700 tons a day, phase one
“So phase one we mining 700 tons a day.”
Keith Boyle·
03 Mar 2026·
first production
first mineralization by end of 27 at Queensway
“our timeline at Queensway is to uh expand the mill at Pine Cove through the rest of this year and into next year so that we can then ship by the end of 27 uh the first uh first mineralization over to Bine Cove uh by the end of 27.”
Keith Boyle·
26 Feb 2026·
milestone
expand Pine Cove mill to 1,400 tons a day from 700
“we'll be expanding the Pine Cove Mill, doubling its size, uh, to 1,400 tons a day from the current 700 it is.”
Keith Boyle·
26 Feb 2026·
milestone
transition from exploration to production within two years
“going from exploration to production within a period of two years is is is pretty fast in our in our industry”
Hashim Ahmed·
10 Feb 2026·
milestone
Maritime Resources producing asset going into commercial production in next few quarters
“we just acquired maritime resources which already has a producing asset going into commercial production in the next few quarters.”
Hashim Ahmed·
10 Feb 2026·
milestone
Hammerdown acquisition closed in November
“Hammerdown. Uh that acquisition closed in November, so we're ramping it up”
Keith Boyle·
02 Feb 2026·
first production
first gold in 2027
“we have milestones that we uh plan on achieving so that we can uh achieve our targets for first gold in 2027.”
Robert Assabgui·
31 Jan 2026·
first production
mid 2027
“uh, goal in 2027, mid 2027, that that is their goal and that we're still, uh, striving towards”
Robert Assabgui·
31 Jan 2026·
milestone
technical report on Hammerdale and Pine Cove in 2026
“We're going to be issuing a technical report on Hammerdale and Pine Cove which will outline our vision of uh of the uh opportunity”
Robert Assabgui·
31 Jan 2026·
milestone
refurbishment and construction to expand Pine Cove in 2026
“we will also be uh starting on the uh refurbishment uh of and construction to expand Pine Cove”
Robert Assabgui·
31 Jan 2026·
milestone
receiving Queensway in 2027
“getting the Pine Cove Mill uh up and running for uh receiving Queensway in 2027.”
Robert Assabgui·
31 Jan 2026·
milestone
permits at Queensway in summer 2026; early works in fall 2026 for construction
“looking to get our permits over at Queensway uh in the summer and uh and you know start early works in the fall of this year for construction.”
Robert Assabgui·
31 Jan 2026·
first production
late 27
“we're advancing to first production at late 27”
Keith Boyle·
27 Jan 2026·
milestone
environmental assessment permit application submission in late Q1
“we're looking to submit our application for the environmental assessment uh certificate environmental assessment permit uh in this quarter, late this quarter”
Keith Boyle·
27 Jan 2026·
milestone
EPCM contract awarded to WSP Canada
“today you've announced um you've awarded the EPCM contract to WSP Canada”
Keith Boyle·
27 Jan 2026·
milestone
Hammerdown mine ramping up production in first half of this year
“we've got the hammerdown mine which we're currently ramping up uh its production uh in the first half of this year”
Keith Boyle·
27 Jan 2026·
first production
Hammerdown: later this year (2026) after ramp up; Queensway: second half 2026 FID
“the ramp up uh will happen over the first 6 months of this year and then we should be in a steady state”
Keith Boyle·
12 Jan 2026·
milestone
Queensway mineral resource update and technical report prior to FID second half 2026
“We want to update the mineral resource...and then update the technical report uh in order to have uh the details on which to build uh phase one of uh the Queensway project”
Keith Boyle·
12 Jan 2026·
milestone
Hammerdown ramp up over first 6 months of 2026
“the ramp up uh will happen over the first 6 months of this year and then we should be in a steady state”
Keith Boyle·
12 Jan 2026·
milestone
Potential shovel in ground at Queensway later in 2026 as early works
“we could see shovel in the ground later this year as part of the early works”
Keith Boyle·
12 Jan 2026·
permit timing
Environmental assessment application for Queensway Q1 2026; expecting quick turnaround
“we're targeting to uh submit our environmental assessment application for uh for Queensway uh this quarter, this first quarter”
Keith Boyle·
12 Jan 2026·
study due
Hammerdown updated technical report end of Q1 2026
“we're targeting to release an updated technical report uh towards the end of this quarter, the first quarter”
Keith Boyle·
12 Jan 2026·
first production
latter half of 2027
“advancing the Queensway gold project uh to production in the latter half of 2027.”
Keith Boyle·
05 Dec 2025·
milestone
Hammerdown to produce gold next year
“we're in the midst of uh one ramping up production at Hammerdown to produce gold next year”
Keith Boyle·
05 Dec 2025·
milestone
first pour from Hammerdown in November
“they announced the first pour from Hammertown on November 12th.”
Keith Boyle·
05 Dec 2025·
milestone
Project financing in place by end of Q2
“with the objective of FNAT in place by the end of the second quarter of next year.”
Keith Boyle·
05 Dec 2025·
permit timing
Submit permit in first quarter, expect to get permitted in latter half of 2026
“we'll submit our permit in the first quarter. And so permitting next year of Queensway and then in the latter half we expect to get permitted”
Keith Boyle·
05 Dec 2025·
construction start
next year's the permitting uh and uh 27 would see us uh complete the construction
“And uh so that really next year's the permitting uh and uh 27 would see us uh complete the construction in the first half with production in the second half of uh 27 from Queensway.”
Keith Boyle·
13 Nov 2025·
first production
second half of uh 27 from Queensway
“And uh so that really next year's the permitting uh and uh 27 would see us uh complete the construction in the first half with production in the second half of uh 27 from Queensway.”
Keith Boyle·
13 Nov 2025·
permit timing
probably by year end um if not in the first quarter
“And so we're looking at uh making that decision probably by year end um if not in the first quarter. and uh submitting our permit application uh with that in mind.”
Keith Boyle·
13 Nov 2025·
Catalysts 5
Key takeaway. Management pointed to a series of catalysts over the coming months.
Read the full summary
In the near term, the company expects a financing package that it says will "really derisk" phase one (Nov 2025) and noted that depending on results from Melissa, "we might be talking about a new deposit" (Nov 2025). For early 2026, management highlighted the release of roughly 60% of remaining drill results from the 70,000-meter campaign, a Hammerdown technical report, a Queensway resource update, and Queensway permitting outcomes (Jan 2026). The company also flagged the Pine Cove mill expansion running through this year and into February 2026, and expects Maritime Resources to reach commercial production within the next few quarters (Feb 2026).
What was actually said
upcoming milestone
Pine Cove mill expansion through rest of this year and into next year
“our timeline at Queensway is to uh expand the mill at Pine Cove through the rest of this year and into next year”
Keith Boyle·
26 Feb 2026·
upcoming result
Maritime Resources commercial production in next few quarters
“we just acquired maritime resources which already has a producing asset going into commercial production in the next few quarters.”
Hashim Ahmed·
10 Feb 2026·
upcoming result
Release of ~60% remaining drill results from 70,000 meter campaign; Hammerdown technical report; Queensway resource update; Queensway permitting outcomes
“we announced about 40% of the 70,000 meter drill campaign that had gone on. So we've got lots of results that we'll be releasing”
Keith Boyle·
12 Jan 2026·
Show the other 2 statements
upcoming decision
financing package that really derisks uh phase one
“Well, probably a really good financing package that really derisks uh phase one. I think that that's the next major milestone for us.”
Keith Boyle·
13 Nov 2025·
upcoming result
depending on how Melissa turns out, we might be talking about a new deposit
“Or or uh you know, depending on how Melissa turns out, we might be talking about a new deposit.”
Keith Boyle·
13 Nov 2025·
Corporate 26 statements
Management 16
Key takeaway. Management points to over four decades of combined industry experience.
Read the full summary
The CEO, Keith Bole, previously brought a mine into production during the 2008 crash, and the COO, Robi Lawler, was VP of Manitoba division at HudBay. The company describes the existing Hammerdown operation as a dry rehearsal for Queensway, where former Hammerdown mine manager Mark Ross has been promoted to general manager of mines. New Found Gold also reports hiring 50 people by the end of the second quarter, bringing total workforce to 264, and has engaged WSP as EPCAM contractor with a construction manager already on site.
What was actually said
prior exit
involved 18 months ago before a mineral resource came out
“when I got involved was 18 months ago um before a mineral resource came out”
Keith Boyle·
13 Jul 2026·
track record
been in the business over 40 years, more than half of it in the Abitibi and Timmins camps, narrow vein gold
“I've been in the business over 40 years, over that time, there's been a consistent theme by some people that, you know, I respect and gold is money. And it follows the devaluation of the US dollar or currencies, fiat currencies. And so, I think this is right now just one of those consolidation periods before the next leg up. And you know, that just just follows on with the printing of money. So, I think gold is going higher.”
Keith Boyle·
13 Jul 2026·
track record
operating Hammerdown as a dry rehearsal for Queensway
“you spoke about that in the past Hammerdown being a kind of a rehearsal”
Keith Boyle·
08 Jul 2026·
Show the other 13 statements
team experience
50 new people hired by end of second quarter, 264 total workforce
“we we hired uh you know, 50 new people by the end of the second quarter... we've got a total workforce of 264 people.”
Keith Boyle·
11 Jun 2026·
track record
Mark Ross was mine manager at Hammerdown, promoted to general manager of mines
“our mine manager, um, Mark Ross, who was at Queensway prior cuz he is an Newfoundlander, he's from Springdale.”
Keith Boyle·
11 Jun 2026·
track record
40-year mining engineer with 8 development projects; most recent was Reunion Gold acquired by Gmin Mining
“I'm a 40-year mining engineer and uh you know, cut my teeth in the bowels of of gold mines across Canada. Uh particularly across the Abbot Tibby”
Keith Boyle·
13 May 2026·
team experience
WSP hired as EPCAM contractor, construction manager on site
“we announced uh when was it? We announced a few months ago now that we had hired WSP as our EPCAM contractor.”
Keith Boyle·
20 Apr 2026·
track record
Robasobi COO has brought operations into production and operated mines
“first Robasobi our COO has lots of horsepower, has done, you know, brought, uh, operations into production and has operated mines before”
Keith Boyle·
26 Feb 2026·
team experience
Exploration team headed by Melissa; engineering and mindbuilding teams assembled to transition to production
“you're working with a team of we've kind of got the exploration which I think team headed by Melissa doing a great job of finding the good stuff, but you're also dealing with a team of mindbuilders”
Hashim Ahmed·
10 Feb 2026·
track record
20 years in mining industry; CFO at Jaguar Mining (turned around from $30M to north of $500M market cap); CFO at Nowhere Royalty (acquired by Mattella); CFO at Manderlay Resources (acquired by Alcane)
“Um I've been in the mining industry for past 20 years...Joined Jaguar Mining as a CFO...our team took it, turned it around. Um it's now trading at north of 500 million...I joined Nowhere Royalty which was um acquired by Mattella and most recently I was a CFO at Manderlay Resources which was acquired by Alcane.”
Hashim Ahmed·
10 Feb 2026·
track record
40-year mining engineer, have eight development projects
“I'm a 40-year mining engineer, have eight development projects under my belt”
Keith Boyle·
02 Feb 2026·
team experience
owners team assembled with very good technical experts consulting in processing, metallurgy, mining and mineral resource estimation
“we have a uh we have a owners team that we've built. uh we've got very good technical experts that are consulting for us and and uh processing metallurgy mining and uh and the uh mineral uh resource estimation.”
Robert Assabgui·
31 Jan 2026·
track record
36 years in mining industry; director of mining operations at Inco (then Valet) managing six underground mines, concentrator and technical group; VP technical services at HUD Bay; VP Manitoba operations at HUD Bay; refurbished gold mill in Snow Lake and r
“I'm in my 36th year of working in the mining industry. I started in Sudbury uh for Inkco and uh which be then became valet worked in engineering operations and projects.”
Robert Assabgui·
31 Jan 2026·
track record
CEO has previous experience developing multiple single-asset type companies
“when I've done a number of these at at at single asset type companies small companies”
Keith Boyle·
27 Jan 2026·
track record
CEO Keith Bole: brought mine into production during 2008 crash; COO Robi Lawler: VP Manitoba division HudBay; CFO Hashimmed: formerly Manderlay, key part of Jaguar turnaround
“My first mine brought into production was during 2008 crash”
Keith Boyle·
12 Jan 2026·
track record
Rob our COO is managing the integration
“Well, the uh Rob Rob is managing Rob our COO is managing the integration.”
Keith Boyle·
13 Nov 2025·
Market 6
Key takeaway. Management says its acquisition of the Hammerdown and Pine Cove assets will accelerate Queensway production by three years (Jun 2026).
Read the full summary
In the first couple of years, they expect production at about 100,000 ounces per year (Mar 2026), with Queensway's phase one alone targeting 69,000 ounces annually and generating over $200 million a year at today's gold price (Feb 2026). The company reports over $300 million of cash flow at current prices in that same early period (Apr 2026), and notes that Hammerdown production at today's gold prices will help manage external financing needs for Queensway (Jan 2026). On the cost side, all-in sustaining costs are pegged at about $2,500 per ounce (Jul 2026).
What was actually said
cost curve position
all-in sustaining of 2,500 bucks
“it'll be a run rate of about 20 to 25,000 oz a year at an all-in sustaining of 2,500 bucks”
Keith Boyle·
13 Jul 2026·
timing rationale
3 years acceleration of Queensway production through Hammerdown and Pine Cove acquisition
“by one acquiring the assets at Hammerdown but Pine Cove, the mill. That allowed us to bring Queensway forward by 3 years”
Keith Boyle·
26 Jun 2026·
timing rationale
over $300 million of cash flow at today's prices in first couple years
“the first couple years we're looking at, you know, over $300 million of cash flow at today's prices.”
Keith Boyle·
20 Apr 2026·
Show the other 3 statements
timing rationale
probably get us closer to 100,000 ounces a year in first couple of years
“the higher grades up in the first couple of years uh probably get us closer to 100,000 ounces a year”
Keith Boyle·
05 Mar 2026·
cost curve position
69,000 ounces a year at Queensway phase one generates over $200 million a year at today's gold price
“the Queensway pea that we put out in July and that pea uh identified phase one at 69,000 ounces a year. So, just so easy maths to call it 70. Um and if you look at the all- in sustaining, you know, somewhere around $1,300. Well, when you start looking at what that margin is at today's gold price, you know, that'll generate over $200 million a year at today's uh gold price.”
Keith Boyle·
26 Feb 2026·
timing rationale
At current gold prices Hammerdown production will help manage external financing needs for Queensway
“with hammerdown coming into production uh in really uh later this year uh after the ramp up steady state um you know we feel at these gold prices uh it really is going to help us”
Keith Boyle·
12 Jan 2026·
Outside views 22 mentions
22 mentions by people who do not speak for the company — 12 constructive, 2 cautious, 6 neutral. These are their views, not the company's.
Rod Husband
bullish
Epic holds New Found Gold shares as a funding backstop and Husband is constructive on NFG at current levels.
Resource Talks·
08 Jul 2026·
Elaine Ellingham
neutral
Cited as a peer comparison trading at ~US$226/oz EV, more expensive than Omai's ~US$150/oz
Crux Investor·
26 Jun 2026·
Sam Pazuki
neutral
Cited as part of the nearby peer set that reinforces district interest.
Proactive Investors·
10 Jun 2026·
Nomi Prins
bullish
Mentioned in the sponsor read as a significant stake held by Palisades.
Palisades Gold Radio·
03 Jun 2026·
Show the other 18 mentions
Unknown speaker
neutral
Mentioned as a shareholder and as an analogy for a growth strategy and transparency lessons.
Resource Talks·
21 May 2026·
Rick Rule
bullish
He thinks the market will treat it well because of shareholder base, high-grade deposit, and perceived low Canadian political risk.
The Bullion Brief·
28 Apr 2026·
Steve Hyland
mixed
Cited as an example where extensive drilling does not necessarily guarantee an economically feasible project.
VRIC Media·
16 Apr 2026·
Bob Moriarty
bullish
He says he invested early and that new management validated the old management's thesis, with the stock doing especially well.
The Silver Market·
26 Mar 2026·
Don Durett
bullish
He frames it as a long-term 3–4 year bet.
The Silver Market·
20 Mar 2026·
Rod Husband
neutral
Husband notes high discovery costs (~$200/oz) but says they have 'a good base' and an operation now; Epic retains an NSR on the property they sold to them
The Deep Dive·
07 Mar 2026·
Felix Prehn
bullish
He calls it one of the highest-grade discoveries in recent years, though pre-revenue and dilution risk remain.
Felix & Friends (Goat Academy)·
09 Feb 2026·
Craig Hemke
bullish
Presented as a large high-grade exploration opportunity with significant upside.
Metal Sense·
21 Dec 2025·
Eric Sprott
bullish
He owns nearly 20% and says drilling suggests the deposit may be far larger than the market thinks.
Sprott Money·
19 Dec 2025·
Colin Smith
neutral
Referenced as a nearby comparable project in Newfoundland.
Crux Investor·
01 Dec 2025·
Paul Huet
neutral
Mentioned as another board role and future help to Eric Sprat, not as a thesis here.
Wealthion·
31 Oct 2025·
Nicole Adshead-Bell
bearish
She cites it as an example of a story that became over-owned and then reality emerged.
MiningStockEducation.com·
31 Oct 2025·
Philippe Cloutier
bullish
Referenced as a peer pursuing test-mining/bulk-sampling toward early cash flow (~$180M/year potential)
Crux Investor·
22 Oct 2025·
Victor Cantore
bullish
Presented as moving toward production, with cash flow and de-risking from Maritime acquisition.
Crux Investor·
20 Oct 2025·
Don Durett
mixed
Referenced as an example of a drill story that can run and then stop.
MiningStockEducation.com·
28 Jul 2025·
Eric Sprott
bullish
He thinks the company’s surface-near gold and bulk sample potential could make the project far more valuable.
Sprott Money·
19 Jun 2025·
Michael Gentile
bullish
Cited as an example of a financing deal getting done in a difficult market.
Kitco NEWS·
04 Jun 2025·
Brian Leni
bearish
Both hosts believe NFG remains overvalued even after the post-resource-estimate crash; avoided from the start due to promotional nature, CEO taking multiple salaries, and excessive market cap relative to resource size.
MiningStockEducation.com·
01 Apr 2025·
Sources 22 interviews
Every interview 22
| Date | Channel | Interview | Statements |
|---|---|---|---|
| 15 Jul 2026 | David Lin | Gold’s Massive Next Move Revealed: Trigger For 'Trade Of A Lifetime' | Collin Kettell | No claims identified |
| 13 Jul 2026 | The Deep Dive | New Found Gold Is Moving From Discovery to Production | Keith Boyle | 15 |
| 08 Jul 2026 | Crux Investor | New Found Gold (TSX:NFG) - Construction Still on Track | 6 |
| 26 Jun 2026 | Crux Investor | New Found Gold (TSXV:NFG) - Expanded 90,000-Metre Drill Program Backs Growth Case | 12 |
| 11 Jun 2026 | Crux Investor | New Found Gold (TSXV:NFG) - Hammerdown & the Path to Production | 18 |
| 05 Jun 2026 | Crux Investor | New Found Gold (TSXV:NFG) - Fully Funded Drill Program for 2026 | 8 |
| 23 May 2026 | Palisades Gold Radio | Collin Kettell & Rick Rule: Why The Palisades Portfolio is Impossible to Reproduce | No claims identified |
| 19 May 2026 | Crux Investor | New Found Gold (TSXV:NFG) - $220m Financing Pushes High-Grade Queensway Toward 2027 Production | 20 |
| 13 May 2026 | Rule Investment Media | Keith Boyle, CEO of New Found Gold | Rule Symposium 2026: Rick Rule interviews | 17 |
| 07 May 2026 | Crux Investor | Newfoundland is becoming Canada's Next Giant Gold District | No claims identified |
| 20 Apr 2026 | Crux Investor | New Found Gold (TSXV:NFG) - $205M Package Funds Queensway to Production | 17 |
| 08 Apr 2026 | Commodity Culture | Don't Count Out GOLD and SILVER, Long Term Trend 'Extremely Constructive': Sheldon Inwentash | No claims identified |
| 05 Mar 2026 | Crux Investor | New Found Gold (TSXV:NFG) - Announces $75 Million Loan Facility Agreement for Queensway | 9 |
| 03 Mar 2026 | Crux Investor | New Found Gold (TSXV:NFG) - Getting to Revenue Quickly & Efficiently | 19 |
| 26 Feb 2026 | Crux Investor | New Found Gold (TSXV:NFG) - Permitted Infrastructure Accelerates Path to Gold Production | 14 |
| 10 Feb 2026 | Crux Investor | New Found Gold (TSXV:NFG) - Meet the Team, with Hashim Ahmed | 8 |
| 02 Feb 2026 | Crux Investor | New Found Gold (TSXV:NFG) - Pitch Perfect - February 2026 | 14 |
| 31 Jan 2026 | Crux Investor | New Found Gold (TSXV:NFG) - Meet the Team, with Robert Assabgui | 11 |
| 27 Jan 2026 | Crux Investor | New Found Gold (TSXV:NFG) - Queensway Engineering Development Initiated | 9 |
| 12 Jan 2026 | Crux Investor | New Found Gold (TSXV:NFG) - 2025's Strategic Transformation to 2026 Production | 16 |
| 05 Dec 2025 | Crux Investor | New Found Gold (TSXV:NFG) - High-Grade Strategy Meets Near-Term Cash Flow | 15 |
| 13 Nov 2025 | Crux Investor | New Found Gold (TSXV:NFG) - Explorer to Producer | 12 |
What else those interviews covered
Every other asset named in the same recordings, by how many of them named it — the company's coverage context, not its holdings. Where the name is another company we hold a record for, it links to it.
Questions people ask
What is New Found Gold's project and where is it?
New Found Gold is a developer gold company, with a project stated to be in Newfoundland, Canada. Everything here is drawn from its executives' own interviews.
Which interviews mention New Found Gold?
We track 22 interviews mentioning New Found Gold, across 6 channels (Commodity Culture, Crux Investor, David Lin, Palisades Gold Radio, Rule Investment Media, The Deep Dive).
What are investors saying about New Found Gold?
22 independent voices — people who do not speak for the company — are on record discussing it (12 bullish, 6 neutral, 2 cautious). Their reasoning is quoted in the outside-view section above.
What do recent interviews with New Found Gold cover?
The most-discussed topics on record are timeline, the deposit, economics, jurisdiction — each claim quoted and dated in the sections above.