New Found Gold revises Queensway PEA, boosting after‑tax NPV to $1.7 bn and raising measured & indicated resources 38%
New Found Gold Corp. released a revised Preliminary Economic Assessment for its Queensway Gold Project. The after‑tax NPV5% rose to $1.728 bn at a $3,600/oz gold price, with the internal rate of return increasing to 126%. Measured and indicated mineral resources grew 38% to 1.920 Moz Au, while Phase 1 capital costs remain about $150 m. The company says the project is fully funded with $167 m cash and a $35 m debt facility, and production is slated to start in Q4 2027.
Why it matters
The higher valuation and expanded resource base improve the project's economics, potentially supporting a stronger share price and financing outlook (the company notes it is fully funded). The revised metrics give investors a clearer view of expected cash flows and returns.
Key facts
- 1After‑tax NPV5% is $1.728 billion at a base case gold price of US$3,600/oz. stocktitan.net
- 2The upside‑case NPV5% rises to $2.225 billion at US$4,100/oz gold. stocktitan.net
- 3Internal Rate of Return is 126% at US$3,600/oz gold and 164% at US$4,100/oz gold. stocktitan.net
- 4Measured & indicated mineral resource increased 38% to 1.920 Moz Au (27,325 kt at 2.19 g/t). stocktitan.net
- 5Phase 1 capital expenditures are $149.8 m initial and $150 m capital costs remain unchanged. cantechletter.com
- 6Cash and cash equivalents total approximately $167 m as of September 30 2026, with a $35 m debt facility available. stocktitan.net
Summary written by AlphAI AI Desk from 4 of 4 sources. Not investment advice. Figures are as stated by the linked sources.