New Found Gold Corp. (NFGC) Form 6-K — Oct 22, 2026
New Found Gold announced a revised Preliminary Economic Assessment and updated mineral resource estimate for its 100%-owned Queensway Gold Project in Newfoundland, showing an after-tax NPV5% of C$1.728 billion and an IRR of 126% at US$3,600/oz gold — more than double the prior study's NPV. The updated MRE grew Measured & Indicated resources by 38% to 1.92 Moz Au, partly driven by the new Dropkick Zone discovery, with the project remaining open along 110 km of strike extent. The mine plan targets 1.744 Moz of gold production over a 15-year life at a US$1,375/oz AISC, with Phase 1 initial capital of C$149.8M and first production expected in Q4/27.
Key figures
- Cash Position
- 167000000
- Irr base
- 126%
- Irr upside
- 164%
- Aisc usd oz
- 1375
- Growth capex
- C$832.1M
- Initial capex
- C$149.8M
- Payback years
- <1 year
- M and i growth
- 38% (+528 koz Au)
- Mine life years
- 15
- Cash cost usd oz
- 985
- First production
- Q4/27 at Pine Cove mill
- M and i resource
- 1.920 Moz Au (27,325 kt @ 2.19 g/t Au)
- Sustaining capex
- C$970.8M
- Inferred resource
- 606 koz Au (12,471 kt @ 1.51 g/t Au)
- Lom gold production
- 1.744 Moz Au
- Avg annual production
- 116,000 oz Au
- Peak annual production
- 190,000 oz Au (2032)
- Debt facility available
- C$35M (until May 15, 2027)
- After tax npv5 base usd3600
- C$1.728B
- After tax npv5 upside usd4100
- C$2.225B
- Cumulative after tax cashflow
- C$2.551B
AI analysis
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