Company Profile 2010

New Guinea Gold (NGG) is a premier junior explorer and miner in Papua New Guinea, with direct and indirect interests in eight gold and two porphyry copper-gold-molybdenum properties. With 90,000 + metres of drilling completed, extensive gold or copper-gold-molybdenum mineralization has been discovered at all the properties. Gold production has commenced at the Company's Sinivit Mine, and NGG is now focused on expanding production there.

The Company brought in partners with the financial and technical resources to speed up development on eight other projects while retaining upside for shareholders. To date, NGG has:

  • An Agreement with Vangold Resources Ltd to sell the Company's interest in Pacific Kanon Gold Corporation ("PKG") and NGG's Feni property, all located in Papua New Guinea. NGG will retain an effective 25% interest in the PKG properties and a 30% interest in the Feni property through the Company's newly combined shareholding in Vangold and the Company's carried interests in the PKG properties.
  • An Option Agreement with a Private Company which provides that Company the right to acquire a 50% legal and beneficial interest in the Normanby's (EL 1091) Imwauna property for a series of cash payments: in addition, the option holder must complete an exploration program over the following two years.
  • A 23% interest in Coppermoly which is listed on the Australian Securities Exchange. Coppermoly in turn has an option agreement with Barrick Gold under which a subsidiary of Barrick will sole fund up to AUD$20 million to earn up to a 72% interest in Coppermoly Ltd's three tenements on New Britain Island, Papua New Guinea. This agreement provides significant upside since Coppermoly can retain a 28% interest in the projects, funded to feasibility.

The Company’s shares are traded on the TSX-Venture, Frankfurt, and Berlin Stock Exchanges.

 

Project locations in PNG Mt Penck Feni Sinivit Crater Mt Mt Nakru Simuku Fergusson