New Found Gold Corp.
New Found Gold Corp. is a Canadian gold mining company transitioning from exploration to production, developing the Queensway, Hammerdown, and Pine Cove Mill assets in Newfoundland and Labrador, with phased production targeted from H2/2026.
- Company typePublic
- Founded2016
- HeadquartersToronto, Canada
- Headcount101–250
- GTM typeB2B
- OfferingServices
What New Found Gold Corp. does
New Found Gold Corp. is a Canadian gold mining company transitioning from exploration to production, with a portfolio of three assets located entirely in Newfoundland and Labrador. The flagship Queensway Gold Project covers approximately 220,000 hectares along a +110 km strike extent and hosts a Measured and Indicated resource of 1.39 Moz plus an Inferred resource of 0.61 Moz; a July 2025 Preliminary Economic Assessment outlines a phased mine plan targeting 1.5 Moz of recoverable gold over a 15-year life of mine, with an after-tax NPV5% of C$743 million at US$2,500/oz. The company's second asset, the Hammerdown Gold Project, was acquired through the November 2025 statutory acquisition of Maritime Resources Corp. and is targeted for commercial production in H2/26 at 20,000–25,000 oz/year. The third asset, the Pine Cove Mill, is a fully permitted 700 tonnes-per-day processing facility that serves as the operational hub for the toll-milling strategy in Phase 1 and is planned for conversion from flotation-Merrill Crowe to a gravity-CIL circuit to lift recovery from ~87% to ~92%.
The company's business model centers on selling gold doré bars (produced on-site through gravity concentration and CIL processing, accounting for ~48% of gold recovery) and gold-bearing sulphide concentrate (produced through flotation, ~44% of recovery) to global gold refineries and off-site concentrate processors under standardized commercial terms including 97.5% maximum payability, US$200/dmt treatment costs, and US$8.00/oz refining charges. Pricing follows prevailing spot gold markets; the company does not publicly disclose product pricing but tracks all-in sustaining costs (AISC) as a key operating metric, with Phase 1 guided at US$1,282/oz and Phase 2 at US$1,090/oz. The phased development strategy — toll milling in Phase 1, on-site 7,000 tpd processing plant in Phase 2, and underground mine development in Phase 3 — is designed to minimize upfront capital, accelerate cash flow, and reduce shareholder dilution.
Founded in 2015–2016 and headquartered in Vancouver, British Columbia, the company is publicly listed on the TSX Venture Exchange (NFG) and NYSE American (NFGC), having completed its IPO in August 2020. The senior management team was substantially refreshed in 2025–2026, including Keith Boyle as CEO and Robert Assabgui (ex-Vale, ex-Hudbay Minerals) as COO. Cornerstone investor Eric Sprott maintains approximately 19% ownership. Financing activity has been intensive, with cumulative equity raises and debt facilities exceeding C$500 million across the company's history, most notably the April 2026 C$205 million package combining a C$100 million equity bought deal with a C$105 million senior secured credit facility from EdgePoint Investment Group.
New Found Gold Corp. firmographics
Firmographics- Name
- New Found Gold Corp.
- Legal name
- New Found Gold Corp.
- Website
- https://newfoundgold.ca
- Company type
- Public
- Founded year
- 2016
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- New Found Gold Corp. is a Canadian gold mining company transitioning from exploration to production, developing the Queensway, Hammerdown, and Pine Cove Mill assets in Newfoundland and Labrador, with phased production targeted from H2/2026.
- Ownership category
- akta.pro rank
New Found Gold Corp. industry classification
Industry- Product category
- Gold Mining and Exploration
- NAICS
- Gold Ore and Silver Ore Mining (212220), Gold Ore and Silver Ore Mining (21222)
- SIC
- Gold And Silver Ores (1040), Primary Smelting & Refining Of Nonferrous Metals (3330)
- akta.pro primary industry
- Gold Mining (IMAKAEAA)
- akta.pro secondary industries
- Precious Metals Ore Processing & Beneficiation (IMAKAEAD), Silver Mining (IMAKAEAB)
Keywords
Where New Found Gold Corp. is headquartered
LocationHeadquarters
- HQ city
- Toronto
- HQ country
- Canada
- HQ region
- North America
Offices3 records
Markets served
New Found Gold Corp. business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Operations, Personnel, Infrastructure, Supply Chain, Others
Revenue model
- Gold Doré Sales: The company produces gold doré bars on site through gravity concentration and CIL processing, which are sold to gold refineries. Approximately 48% of gold recovery reports to doré.
- Gold Concentrate Sales: The company produces gold-bearing sulphide concentrate from flotation processing, which is sold to off-site concentrate processors. Approximately 44% of gold recovery reports to concentrate with maximum gold payability of 97.5% subject to minimum 2 g/t Au deduction.
- Toll Milling Services: During Phase 1, the company processes ore from the Hammerdown deposit through the Pine Cove Mill at a rate of 700 tonnes per day, generating processing revenue while also supporting their own production.
Go-to-market motion1 record
Distribution channels3 records
Marketing channels6 records
New Found Gold Corp. product offering
Product offeringCore offering
New Found Gold Corp. is an emerging Canadian gold producer that explores, develops, and produces gold from its 100%-owned Queensway Gold Project and Hammerdown Gold Project in Newfoundland and Labrador, Canada. The company operates the fully permitted Pine Cove Mill (700 tpd) for processing ore into gold doré bars and gold-bearing sulphide concentrate, which it sells to refiners and concentrate processors at prevailing market prices.
Product overview
New Found Gold Corp. is an emerging Canadian gold producer with a three-asset portfolio in Newfoundland and Labrador, Canada. The portfolio consists of the flagship Queensway Gold Project (an advanced exploration/development project targeting production in late 2027), the Hammerdown Gold Project (a near-production asset targeting commercial production in H2/26), and the Pine Cove Mill (a fully permitted processing facility that serves as the operational hub for the Hammerdown project). The company operates a phased development strategy, leveraging existing infrastructure to minimize initial capital requirements.
Differentiator
Problem solved
Functional benefit
Products and services
- Queensway Gold Project
Quantifiable outcome
- Phase 1 generates C$117M average annual after-tax operating cash flow, enabling payback of C$155M initial capital in Year 2
- +2 more outcomes
Companies that use New Found Gold Corp.
Customer profileNamed customers2 records
Segments2 records
Ideal customer profiles2 records
New Found Gold Corp. technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
New Found Gold Corp. partnerships and signals
Strategic signalPartnerships
Four partnerships are on record, tiered minor and core.
- ICP Securities Inc.minorEngaged to provide automated market-making services on the TSX Venture Exchange for an initial four-month term at a monthly fee of C$7,500.
- WSP CanadacoreAwarded Phase 1 EPCM contract for Queensway gold project covering site development and detailed engineering for offsite milling facility. WSP is preparing the NI 43-101 technical report for Hammerdown Gold Project.
- Cutfield Freeman & Co. Ltd.coreEngaged as project finance advisor to advise on project financing strategies and assemble funding for Phase 1 production, targeting C$155 million in project financing.
- Maritime Resources Corp.coreAcquired through statutory arrangement creating a combined Canadian gold producer. The acquisition provided New Found Gold with the Hammerdown Gold Project and Pine Cove Mill, enabling capital-efficient development of Queensway through toll milling arrangements.
Scale indicators11 records
Recent moves9 records
Expansion highlights6 records
New Found Gold Corp. competitors and assessment
Company assessmentDirect peers
- Wesdome Gold Mines Ltd. Canadian mid-tier gold producer operating underground mines in Ontario and Quebec. Comparable on geographic focus (Canada), mid-tier scale, and the operational profile of running multiple gold assets with phased development.
- Marathon Gold Corp. The most direct comparable peer — Marathon Gold is developing the Valentine Gold Project in Newfoundland, with a similar district-scale land package, Canadian TSX listing, and progression from exploration toward production. Same jurisdiction, comparable ore body type, and analogous pre-production development profile.
- Karora Resources Inc. Multi-asset gold producer in Western Australia with a focus on production growth and exploration upside. Comparable producer/developer profile and strategic emphasis on district-scale exploration to support mine life extension.
- Argonaut Gold Inc. Mid-tier gold producer with multi-asset North American operations pursuing growth through both production and acquisitions. Comparable in scale, jurisdictional focus, and the multi-asset producer model NFG is targeting.
- Lundin Gold Inc. Single-asset gold producer operating the Fruta del Norte mine in Ecuador, with strong free cash flow generation. Comparable as a single-jurisdiction gold producer that successfully transitioned from developer to producer with a high-grade underground operation.
- Torex Gold Resources Inc. Single-asset gold producer in Mexico focused on the Morelos Complex, with growth from a producing asset. Comparable business model of single-jurisdiction production with strong cash flow generation funding growth.
- Calibre Mining Corp. Mid-tier gold producer with a multi-asset, growth-focused strategy combining production and exploration upside. Closely comparable to NFG's stated ambition to be an emerging gold producer with district-scale exploration potential.
Emerging players
- O3 Mining Inc. Canadian gold developer advancing exploration and development projects in Quebec and Ontario. Comparable profile of an early-stage Canadian gold company pursuing district-scale resources with phased development plans.
Broad incumbents
- IAMGOLD Corporation: Established Canadian gold producer with a multi-asset portfolio including West African operations and Canadian development projects. Represents the established-mid-cap incumbent benchmark NFG could grow into.
- Equinox Gold Corp. Larger multi-asset gold producer with operations across the Americas. Represents the broader incumbent profile NFG is working toward, with comparable strategy of combining producing mines with development-stage growth projects.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks7 records
Key highlights7 records
Customer concentration
New Found Gold Corp. social profiles
Digital presenceNew Found Gold Corp. financial estimates
Financial estimateRevenue estimate
Valuation estimate
New Found Gold Corp. leadership team
Management profileNumber of profiles
Profiles9 records
New Found Gold Corp. subsidiaries and ownership
Company hierarchySubsidiaries1 record
New Found Gold Corp. funding detail
Funding detailFunding overview
Funding rounds12 records
Investors11 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
New Found Gold Corp. M&A and investment
M&A and investmentM&A1 record
Investments1 record
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about New Found Gold Corp.
What does New Found Gold Corp. do?
New Found Gold Corp. is an emerging Canadian gold producer that explores, develops, and produces gold from its 100%-owned Queensway Gold Project and Hammerdown Gold Project in Newfoundland and Labrador, Canada. The company operates the fully permitted Pine Cove Mill (700 tpd) for processing ore into gold doré bars and gold-bearing sulphide concentrate, which it sells to refiners and concentrate processors at prevailing market prices.
Is New Found Gold Corp. a public or private company?
New Found Gold Corp. is a public company. It is classified as public and is currently operating.
When was New Found Gold Corp. founded?
New Found Gold Corp. was founded in 2016. It employs 101 to 250 people.
Where is New Found Gold Corp. based?
New Found Gold Corp. is headquartered in Toronto, Canada, in the North America region.
How does New Found Gold Corp. make money?
Three revenue lines are on record. Gold Doré Sales are the primary driver. The others are gold Concentrate Sales and toll Milling Services.
Who are New Found Gold Corp.'s main competitors?
Direct peers on record are Wesdome Gold Mines Ltd., Marathon Gold Corp., Karora Resources Inc., Argonaut Gold Inc., Lundin Gold Inc., Torex Gold Resources Inc. and Calibre Mining Corp.. O3 Mining Inc. is listed as an emerging player. Broad incumbents are IAMGOLD Corporation and Equinox Gold Corp..
Does New Found Gold Corp. have an API?
No public API is recorded for New Found Gold Corp..
What industry is New Found Gold Corp. in?
New Found Gold Corp.'s product category is Gold Mining and Exploration. Its primary akta.pro industry code is IMAKAEAA, Gold Mining, with a secondary code of IMAKAEAD, Precious Metals Ore Processing & Beneficiation. Its NAICS code is 212220 and its SIC code is 1040.