New Found Gold's revised Queensway study more than doubles after-tax NPV to CAD 1.73 billion
NFGC•New Found Gold's revised Queensway preliminary economic assessment puts after-tax NPV at CAD 1.73 billion, more than double the prior figure, and after-tax IRR at 126% using a base-case gold price of USD 3,600 per ounce. Measured and indicated resources rose 38% to 1.92 million ounces; initial capital is CAD 149.8 million, with first material delivery targeted for Q4 2027.
1. Revised project economics
New Found Gold's revised Queensway preliminary economic assessment more than doubles after-tax net present value, at a 5% discount rate, to CAD 1.73 billion. It puts after-tax internal rate of return at 126% using a base-case gold price of USD 3,600 per ounce.
2. Resources and development
Measured and indicated gold resources rose 38% to 1.92 million ounces at the Newfoundland and Labrador project. Initial capital is CAD 149.8 million and is fully funded; growth capital totals CAD 832.1 million. First material delivery to Pine Cove is targeted for Q4 2027, and projected gold production totals 1.744 million ounces over 15 years.
