In this week’s Stockhouse Gold Report, we take a closer look at four projects whose proven mineralization could serve as a compelling entry point for investors seeking long-term exposure.
This article is a journalistic opinion piece which has been written based on independent research. It is intended to inform investors and should not be taken as a recommendation or financial advice.
We begin with New Found Gold (TSXV:NFG), who provided an update on its Queensway Gold Project and Pine Cove milling facility in Newfoundland, highlighting continued progress toward production. The company has been directed by the provincial government to complete an Environmental Preview Report as part of the environmental assessment process for Queensway Phase 1, with management aiming to advance the project toward regulatory approval and begin shipping material to the Pine Cove mill in Q4 2027. Meanwhile, New Found Gold has received a permit amendment to convert Pine Cove’s processing circuit to a gravity-carbon-in-leach system and plans to expand throughput from 700 to 1,400 tonnes per day, which is expected to improve gold recoveries and better process Queensway’s high-grade coarse gold. Engineering, procurement, and construction management work is progressing on schedule, alongside detailed project design, infrastructure planning, metallurgical testing, and an updated resource estimate. The company continues to target Phase 1 commercial production in the second half of 2028, with the project expected to generate significant regional employment and economic benefits.
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By the ounce
At the time of writing on Wednesday, the price of gold was US$4,053.22, according to data from ADVFN, up from US$4,071.77 per ounce in our July 2nd report, as investors continue to assess the outlook for central bank policy, particularly in the U.S. Shifting expectations around future Federal Reserve rate decisions have influenced demand for non-yielding assets like gold. Lower expected rates generally support gold prices, while higher-rate expectations can pressure the metal.
This week in gold
West Red Lake Gold Mines Ltd. (TSXV:WRLG) reported additional high-grade drill results from the Austin 904 and Austin 955 complexes at its Madsen Mine in Ontario’s Red Lake district. The latest drilling, conducted from the 13 Level at approximately 650 metres depth and the 12 Level at roughly 600 metres depth, builds on previously announced bonanza-grade intercepts and further supports the continuity of gold mineralization within the deposit. The company highlighted the Austin 904 Complex as a particularly attractive mining opportunity, consisting of an approximately 200-by-200-metre panel of intact mineralization that was not mined historically. Because the zone remains largely untouched, West Red Lake Gold expects to have full access to the mineralized area, enabling the design of larger stopes and potentially improving mining efficiency and production economics as it advances the Madsen mine restart.
Fortune Minerals Ltd. (TSX:FT) is also in the news, the company announced that its joint venture with the Tlichǫ Government has secured conditional approval from the Canadian government for up to $50 million through Natural Resources Canada’s First and Last Mile Fund to support construction of the 51-kilometre NICO Project Access Road in the Northwest Territories. The funding will cover up to 75 per cent of eligible construction costs and is expected to help offset capital cost inflation as the company advances its NICO cobalt-gold-bismuth-copper project toward a construction decision. The access road will connect the NICO mine to the territorial highway network, enabling the transportation of concentrates to a planned processing facility in Alberta. Fortune and the Tłı̨chǫ Government are also assessing an extension of the road to provide community benefits and support future economic development. Having already invested more than $150 million in the project, Fortune views NICO as a strategically important source of critical minerals and gold, helping strengthen North American supply chains and reduce reliance on foreign sources of cobalt, bismuth, and other essential materials.
To close out this week’s Gold Report, let’s consider Laurion Mineral Exploration Inc. (TSXV:LME), who completed the second and final tranche of its non-brokered private placement, raising a total of approximately $1 million to support exploration and corporate activities. The second tranche consisted of 333,333 non-flow-through common shares issued at $0.21 per share for gross proceeds of about $70,000, following a first tranche that raised roughly $930,000 through the issuance of flow-through units. The flow-through proceeds will be directed toward advancing LAURION’s 2026 drill program at its Ishkõday property, while proceeds from the non-flow-through shares will be used for additional exploration work and general working capital. Each flow-through unit included a common share and a warrant exercisable at $0.35 per share for 24 months, providing investors with additional exposure to the company’s future growth.
Top trending gold stocks
- New Found Gold (TSXV:NFG) | 10,000+ views.
- West Red Lake Gold Mines (TSXV:WRLG) | 5,000+ views.
- Monument Mining (TSXV:MMY) | 3,800+ views.
- Tudor Gold (TSXV:TUD) | 3,700+ views.
- Equinox Gold (TSX:EQX) | 2,400+ views.
- Pirate Gold (TSXV:YARR) | 2,300+ views.
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