1. Limited Resources - New Carolin Gold Corp has limited financial resources compared to its peers, which may limit its ability to invest in exploration and development activities.

2. Lack of Diversification - The company's focus on gold exploration and development may limit its ability to diversify its portfolio and reduce its exposure to market risks.

3. Limited Production - New Carolin Gold Corp has not yet started commercial production, which may limit its ability to generate revenue and compete with its peers.

4. Dependence on a Single Project - The company's success is heavily dependent on the success of its flagship project, the Carolin Mine, which may increase its exposure to project-specific risks.

5. Limited Market Presence - New Carolin Gold Corp has a limited market presence compared to its peers, which may limit its ability to attract investors and raise capital.

6. Lack of Established Partnerships - The company has not yet established any significant partnerships with other mining companies or industry players, which may limit its ability to access new markets and technologies.

7. Regulatory Risks - The mining industry is subject to various regulatory risks, including environmental regulations and permitting requirements, which may increase the company's operating costs and limit its ability to operate in certain jurisdictions.