New Found Gold presents fully funded Queensway Phase 1 development plan
NFGC•New Found Gold outlined a fully funded Queensway Phase 1 plan with initial capital expenditure of CAD 150 million. First ore processing at Pine Cove is planned for Q4 2027, while the revised assessment projects 1.7 million ounces of gold over 15 years.
1. Development plan figures
The plan calls for initial processing at 700 metric tons per day, with first ore processing at Pine Cove planned for the fourth quarter of 2027. Average annual all-in sustaining costs are projected at USD 1,375 per ounce. Measured and indicated gold resources increased 38% to 1.92 million ounces.
