- Gold Terra Resource (TSXV:YGT) has secured financing commitments from new investor, David Harquail, and existing shareholder, Eric Sprott, for gross proceeds of C$6.3 million
- Gold Terra Resource controls the 836-square-kilometre Yellowknife project, one of the six major high-grade gold camps in Canada
- Gold Terra stock has added 58.33 per cent year-over-year
Gold Terra Resource (TSXV:YGT) has secured financing commitments from new investor, David Harquail, and existing shareholder, Eric Sprott, for gross proceeds of C$6.3 million.
How will Gold Terra invest the funds?
Gold Terra will allocate the proceeds to a drilling program slated for January 2026 on the Con mine in Yellowknife, NWT, which boasts past production of 5.1 million ounces, and on which it holds an option to acquire from Newmont Corporation as per an agreement signed in 2021. The program will focus on the Campbell Shear structure, south of the Con mine, where historical production surpassed 14 million ounces of gold averaging 16-22 grams per ton.
In 2022, the Con mine was estimated to host 109,000 ounces of gold indicated and 432,000 ounces inferred, representing more than US$2.2 billion in the ground at the price of US$4,135 per ounce as of November 12, 2025.
Who are the strategic investors behind the financing?
Harquail co-founded Franco-Nevada Corporation (TSX:FNV) in 2007, leading its $1.3 billion initial public offering, serving as chief executive officer (CEO) for 13 years, during which time he grew the company into arguably the top precious metals royalty brand in the industry. Harquail is currently chair of Franco-Nevada and a director of both the Bank of Montreal and the Prospectors & Developers Association of Canada.
Sprott, for his part, is a member of the Canadian Mining Hall of Fame, stemming from his more than 50-year career in the investment industry as an asset manager and supporter of some of Canada’s most legendary miners, including Kirkland Lake Gold, where he served as chairman, and New Found Gold, in which he invested C$125.9 million in 2022, accelerating the development of one of Canada’s most important advanced-stage exploration projects.
Financial details
The non-brokered private placement will consist of 15 million common shares priced at C$0.10 and valued at C$1.5 million, 30 million charitable flow-through shares priced at C$0.14 and valued at C$4.2 million, and 5 million flow-through shares priced at C$0.12 and valued at C$600,000.
According to Wednesday’s news release, the transactions are expected to close by November 28, 2025.
Management commentary
“We are pleased to have this strategic investment and endorsement from David Harquail and Eric Sprott,” Gerald Panneton, Gold Terra Resource’s chairman and CEO, said in a statement. “The Con mine property represents a cornerstone of our strategy in re-developing Yellowknife in a premier gold camp. The proceeds raised will allow us to continue our drilling program on the Con mine option property. The former Con mine produced 5.1 million ounces of gold at an average grade of 16 grams per ton and was historically one of the richest high-grade gold mines in Canada.”
About Gold Terra Resource
Gold Terra Resource controls the 836-square-kilometre Yellowknife project, one of the six major high-grade gold camps in Canada, where past production surpasses 20 million ounces.
Gold Terra stock (TSXV:YGT) last traded at C$0.095 and has added 58.33 per cent year-over-year.
Join the discussion: Find out what investors are saying about this Canadian gold mining stock on the Gold Terra Resource Corp. Bullboard and make sure to explore the rest of Stockhouse’s stock forums and message boards.
Stockhouse does not provide investment advice or recommendations. All investment decisions should be made based on your own research and consultation with a registered investment professional. The issuer is solely responsible for the accuracy of the information contained herein.
For full disclaimer information, please click here.
