New Found Gold (TSXV:NFG) - Meet the Team - Hashim Ahmed

Why It Matters

Hashim Ahmed’s disciplined, phased strategy reduces construction risk and aligns finance with rapid production goals, offering investors a clearer path to sustainable cash flow and long‑term value creation.

Key Takeaways

• CFO Hashim Ahmed brings two decades of mining finance expertise.
• Focus on operational readiness for rapid transition to production.
• Implementing disciplined capital allocation with health, growth, contingent buckets.
• Mentoring young finance team to embed best‑practice processes.
• Phased Queensway development reduces risk and leverages acquired assets.

Summary

The video features a candid interview with Hashim Ahmed, the newly appointed CFO of Newfound Gold (TSXV:NFG). Ahmed outlines his 20‑year track record in mining finance, from senior roles at Balac, Jaguar Mining, and Manderlay Resources, and explains why the Newfoundland jurisdiction and the company’s multi‑generational gold asset attracted him.

He emphasizes three strategic pillars: leveraging a world‑class jurisdiction, unlocking the prospectivity of a 110‑kilometre strike that remains largely unexplored, and instilling rigorous financial discipline. To manage the rapid shift from exploration to production, Newfound Gold has introduced a segmented capital‑allocation framework—health‑and‑safety, growth, and contingent capital—while adopting operational‑readiness processes tailored to each development phase.

Ahmed cites concrete examples such as the recent acquisition of Maritime Resources, which brings a near‑term producing asset and a Pine Cove mill, and the phased Queensway development plan that spreads construction risk across three stages. He likens the CFO office to “village elders,” fostering trust and alignment by ensuring all teams work from the same KPI sheet and by mentoring a young finance staff to embed best‑practice systems.

For investors, the CFO’s disciplined approach signals that Newfound Gold is positioning itself to capitalize on today’s high gold prices without succumbing to cost overruns. The phased build‑out, combined with strong governance and a focus on sustainable cash generation, could enhance the company’s valuation and make the asset a long‑term, multi‑generational contributor to the province’s mining sector.

Original Description

Interview with Hashim Ahmed, CFO of New Found Gold

Previous Interview: https://www.cruxinvestor.com/posts/new-found-gold-tsxvnfg-queensway-engineering-development-initiated-9063

Recording date: 26th January 2026

Hashim Ahmed brings 20 years of mining finance experience to New Found Gold, with a career trajectory directly relevant to the company's accelerated development timeline. His foundation at Barrick Gold provided exposure to major-company financial systems, while subsequent CFO roles at Jaguar Mining, Nomad Royalty, and Mandalay Resources demonstrated his ability to execute turnarounds and navigate successful exit transactions. At Jaguar, he helped transform a company emerging from creditor protection at a $30 million market cap into one trading above $500 million.

His approach at New Found Gold centers on balancing the nimble decision-making of a junior miner with the scalable governance systems required for production. With the company targeting a transition from exploration to production within two years, Ahmed has implemented structured capital allocation frameworks including formal approval-for-expenditure processes and a segmented capital budgeting system that prioritizes health, safety, and environmental spending before growth and contingent capital. His preferred financial metric is net cash generation rather than industry-standard all-in sustaining costs, a discipline designed to cut through noise and maintain focus on total economic performance.

Ahmed views the phased development of Queensway, underpinned by the acquired Pine Cove mill, as fundamentally aligned with sound financial stewardship. The approach reduces construction risk, distributes capital commitments across learning phases, and avoids the large-scale single-build model that has historically destroyed value during commodity bull markets. He positions the CFO function as a cross-functional problem-solver rather than a financial scorekeeper, building alignment through shared KPIs and common data across engineering, operations, and finance teams. His focus on mentoring local talent in Newfoundland and building institutional processes reflects a commitment to creating operational capabilities that endure well beyond any individual executive's tenure.

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View New Found Gold's company profile: https://www.cruxinvestor.com/companies/new-found-gold

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