Mining Stock Daily New Found Gold Closes Acquisition of Maritime Resources
Nov 19, 2025
Keith Boyle, a mining engineer with four decades of experience and CEO of New Found Gold, shares insights on the company's evolution into 'New Found Gold 2.0.' He discusses acquiring Maritime Resources and its Hammerdown Gold Project, emphasizing how this will enhance the operational shift from exploration to production. Boyle delves into the strategic development at Queensway, the importance of dense drilling for vein deposits, and near-term milestones like exploration results and production guidance, setting the stage for exciting growth ahead.
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Strategic Shift To Production
- New Found Gold shifted from exploration to production by changing its board and management to focus on getting Queensway to cash flow.
- Keith Boyle returned from retirement to lead development with a team built for mine delivery.
Resource Release As A Reset
- The January resource reset expectations and caused a share drop, but institutions saw it as an attractive entry.
- The company used the resource release as a realistic reset and a platform to plan a PEA and further exploration.
Vein Deposit Demands Tight Drilling
- Queensway is a high-grade vein system that requires dense drilling to define steep, narrow shoots.
- Tight drilling produced over 70% of the resource in the indicated category to reduce geological surprise at development.