New Found Gold CEO: “At $3,300, We Ran the Numbers and Got to 197% IRR”

Video Description

New Found Gold (TSXV: NFG; NYSE-A: NFGC) is advancing its high-grade Queensway project in Newfoundland at a time when gold is trading near $3,900 an ounce. Speaking with Kitco Mining’s Investment Trends, CEO Keith Boyle highlighted the project’s strong leverage to price. “At $2,500, our internal rate of return would be 56% and our NPV over $700 million. But at $3,300, we ran the numbers and got to 197% IRR and $1.4 billion in NPV,” he said. Boyle emphasized a staged mine plan requiring just $155 million upfront, with the recent Maritime Resources acquisition expected to provide cash flow and reduce financing risk. “If you start small, your overage is much smaller and much more manageable,” he noted. Institutional support has expanded, with a $63 million raise in June lifting ownership to 14% alongside backing from Eric Sprott. Permitting is targeted for 2026, with Boyle noting Newfoundland’s cooperative stance: “They want five mines by 2030, we will be one of them.” With a 110-kilometer land package, recent surface samples grading 64.8 g/t gold, and M&A optionality, Boyle says Queensway could form the core of a new mining district. Subscribe to Kitco Mining for more Investment Trends interviews, market analysis, and on-the-ground coverage. 00:29 Spotlight on New Found Gold 00:48 Interview with CEO Keith Boyle 00:52 Economic Blueprint and Project Insights 01:55 Project Financing and Expansion Strategy 03:24 Fast-Tracking and Production Plans 05:55 Geological Insights and High-Grade Discoveries 11:16 Permitting and Government Collaboration 12:53 Future Vision and Expansion __________________________________________________________________ Kitco Mining is dedicated to reporting on the mining industry. Our mandate is to be the top resource for all mining information and news, offering a clear perspective on where the industry is going through breaking news coverage, mining trends, and in-depth reporting, presented with precious, rare earth, base metals, and industry stock prices. Get important precious and base metal updates while on the go with the Kitco Gold LIVE! app - https://applications.kitco.com Stay connected with us X - https://x.com/KitcoMining Instagram - https://www.instagram.com/kitcomining LinkedIn - https://www.linkedin.com/company/kitco-mining Facebook - https://www.facebook.com/KitcoMining Connect with the Kitco Mining anchors Paul Harris - https://x.com/paulharrisgold For more in-depth mining coverage, visit us here - https://www.kitco.com/mining Disclaimer: Videos are not trading advice, and the views expressed may not reflect those of Kitco Metals Inc.