Today’s Most Important News

1. New Found Gold — Hammerdown officially reaches commercial production

This is today’s #1 valuation-changing company-specific event.

New Found isn’t saying “we expect to produce.”

It’s saying:

Commercial production achieved.

The 60-day test exceeded the PEA criteria:

  • 748 tpd average throughput
  • 87.7% gold recovery
  • 2.92 g/t average feed grade

The mill is rated at 700 tpd, meaning throughput actually averaged above nameplate during the test period.

Why this matters

NFG has now crossed a major valuation boundary:

developer ? producer

And it still owns the enormous Queensway project.

That’s potentially a very interesting combination:

Hammerdown cash flow + Queensway exploration/development optionality.

The stock, however, has been weak: US$1.64 versus US$1.89 on September 3 and US$1.95 on August 27.  HIGH OF 3.70 In January 2026, FYI.

That makes today’s production announcement particularly interesting from a valuation/rerating perspective.

My assessment: MAJOR fundamental development.

Here’s the chart fellas…..