New Found Gold projects Queensway average annual AISC of US$1,375 per ounce
NFGC•NFGC•NFGC•NFGC•New Found Gold projects Queensway initial capital spending of $150 million and average annual all-in sustaining costs of US$1,375 per ounce. The project is expected to produce 1.7 million ounces over a 15-year mine life, with a base-case after-tax payback of less than one year.
New Found Gold projects initial capital spending of $150 million for Queensway, average annual all-in sustaining costs of US$1,375 per ounce and total production of 1.7 million ounces over a 15-year mine life. The base-case after-tax payback is projected at less than one year.
Queensway deliveries are scheduled to begin when the Pine Cove expansion to 1,400 tonnes daily is targeted for completion in Q4 2027. Hammerdown crusher commissioning in Q1 2027 is expected to reduce crushing costs; Q3 2026 all-in sustaining costs reached US$3,279 per ounce. New Found Gold reported cash of $167.1 million to support Queensway Phase 1 funding.
