- Nevada King Gold (TSXV:NKG) announced a fully subscribed C$16 million non-brokered private placement, including a C$10 million investment from global mining company Centerra Gold (TSX:CG)
- The junior mining company is active on Nevada’s prolific Battle Mountain trend
- Nevada King Gold stock has given back 32.14 per cent year-over-year
Nevada King Gold (TSXV:NKG) announced a fully subscribed C$16 million non-brokered private placement, including a C$10 million investment from global mining company Centerra Gold (TSX:CG), plus C$6 million from chairman of Nevada King, Collin Kettell, and its largest shareholder, Michael Parker, to maintain their pro-rata ownership positions.
The investment will grant Centerra a 9.9 per cent stake in the junior mining company, purchased at C$0.21 per share, with proceeds expected to support regional and reconnaissance exploration across its flagship Atlanta gold mine project, where historical open-pit production yielded 110,000 ounces of gold and 800,000 ounces of silver from 1.5 million tons between 1975-1985.
The 130-square-kilometre project, located on Nevada’s Battle Mountain trend, hosts an NI 43-101 compliant pit-constrained oxide resource of more than 1 million ounces of gold measured and indicated, plus 99,000 ounces inferred – at base-case prices of only US$2,200 per ounce of gold and US$25 per ounce of silver – representing more than US$4.8 billion in commodities in the ground, or more than 68 times Nevada King’s current market capitalization.
According to Tuesday’s news release, the financing is expected to close in Q2 2026.
Management commentary
“This strategic investment from Centerra culminates a lengthy period of due diligence and is a strong endorsement for both the quality and growth potential of the Atlanta gold mine project, as well as for Nevada King’s exploration team,” John Sclodnick, chief executive officer of Nevada King Gold, said in a statement. “With the bolstered treasury, the company is now in a position to advance our ambitious exploration program at Atlanta to truly define the district-scale potential of one of the highest-grade, open pit, oxide gold projects in Nevada, a top mining jurisdiction in the world. We’re excited to welcome Centerra as a new shareholder, a highly reputable and technically strong intermediate gold producer with assets in Nevada and the Great Basin area.”
About Nevada King Gold
Nevada King Gold is a junior mining company active on Nevada’s prolific Battle Mountain trend.
Nevada King Gold stock (TSXV:NKG) is up by 15.15 per cent trading at C$0.19 as of 9:39 am ET. The stock has given back 32.14 per cent year-over-year.
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