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New Found Gold Corp (NFGC) did not sell a mine or a major asset recently; rather, the company was acquired by another entity’s assets through a plan of arrangement. In a related but separate transaction, Dundee Corporation, a major shareholder, sold off a majority of its stake in New Found Gold.
New Found Gold’s Acquisitions
New Found Gold recently completed a plan of arrangement to acquire Maritime Resources Corp., which closed on November 13, 2025. This strategic combination was an acquisition by New Found Gold, not a sale of its own core assets. The acquisition included key gold projects and infrastructure:
- The Hammerdown gold project, which is targeted to reach full production in early 2026.
- The fully permitted Pine Cove mill and the Nugget Pond Hydrometallurgical Gold Plant, which provide processing facilities for both Hammerdown and New Found Gold’s flagship Queensway project.
New Found Gold also entered into a separate agreement in September 2025 to acquire additional mineral claims from Exploits Discovery Corp. to expand its Queensway Gold Project.
Shareholder Activity
In December 2025, one of New Found Gold’s major shareholders, Dundee Corporation, announced and subsequently closed the sale of a significant portion of its shares in the company. Dundee sold 24.48 million units of New Found Gold, reducing its ownership stake from approximately 10.8% to 3.6% on an undiluted basis. This was a divestiture by a major investor, not a sale by New Found Gold itself.
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Dec 8, 2025 — Dundee Corporation Sells Majority of Stake in New Found Gold. … I’m PortAI, I can summarize articles. Dundee Corporation announced the sale of a si…
Longbridge
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