New Found Gold Corp
NFGC.TO
Toronto Stock Exchange2.44
CAD
-0.07
- -
New Found Gold Corp
NFGC.TO
(Toronto Stock Exchange)
Recent
price
2.44
P/E
ratio
- -
div
yld
- -
ROIC.AI
Capital Structure
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in mil. unless spec.- Similar Companies
- Business
- New Found Gold Corp. is a Canada-based emerging gold producer engaged in the acquisition, exploration, development and production of gold mineral properties in Newfoundland and Labrador, Canada. The Company’s principal operations comprise its 100%-owned Queensway Gold Project, a district-scale exploration and development property near Gander covering more than 110 kilometres of prospective strike along the Appleton and JBP fault zones; and the 100%-owned Hammerdown Gold Project, including the Hammerdown gold deposit, the fully permitted Pine Cove Mill, milling and tailings facilities, and related mining infrastructure. Its activities include diamond drilling; geological and resource delineation work; grade-control and conversion drilling; open-pit mine development and mining; mineralized-material handling and stockpiling; gold processing, recovery and pouring; mill commissioning and optimization; and environmental baseline, hydrogeological and community-engagement programs. The Company serves the precious-metals market through the production and sale of gold and is focused on advancing Queensway toward Phase I production while developing Hammerdown as its near-term producing operation. New Found Gold was incorporated in 2016, was formerly known as Palisade Resources Corp. until its June 2017 name change, and is headquartered in Vancouver, British Columbia, Canada. Recent strategic developments include the November 2025 acquisition of Maritime Resources Corp., which added Hammerdown and the Pine Cove processing facility and accelerated the Company’s pathway to production; a C$205 million financing package announced in 2026, including bought-deal equity financing and an EdgePoint senior secured credit facility; the initial C$70 million draw under the EdgePoint facility in May 2026; and the closing of a C$115 million bought-deal financing in April 2026. At Hammerdown, the Company is ramping up mining and milling operations toward commercial production in the second half of 2026, with material delivery meeting the preliminary economic assessment design rate of 700 tonnes per day, recoveries reaching approximately 87%, and planned infrastructure upgrades including crushing, sorting and regrind capacity and a conversion of the mill circuit to gravity-carbon-in-leach processing. The Company is also expanding its fully funded 2026 Queensway exploration and resource-growth program, including approximately 90,000 metres of drilling, while it received approval in August 2026 to graduate its common shares to the Toronto Stock Exchange.