New Found Gold presents plan for annual gold production above 200,000 ounces
NFGC•New Found Gold outlined a path to annual gold production exceeding 200,000 ounces. The company said Queensway is fully funded and reported CAD 167 million in cash and marketable securities, a CAD 35 million credit facility, and a 38% increase in Queensway’s measured and indicated resource estimate.
1. Production and funding plans
New Found Gold outlined its production plan at a Capital Markets Day presentation, saying Queensway development is fully funded through its existing debt facility, cash holdings and Hammerdown cash flows. Cash and marketable securities totaled CAD 167 million, and the credit facility provides CAD 35 million. Hammerdown declared commercial production in the third quarter of 2026, processing ore at the Pine Cove mill; Queensway’s updated measured and indicated mineral resource estimate increased 38%.
