• NevGold Corp. (NAU) has issued approximately 3.65 million of its common shares to GoldMining Inc. (GOLD) as a part of the Nutmeg Mountain option agreement
  • The total share issuance payment was equal to $1.5 million issued at $0.41 per share
  • GoldMining now holds and has control and direction over close to 12.6 million common shares and 1.48 million warrants
  • GoldMining Inc. (GOLD) is down 2.60 per cent, trading at $1.50 per share as of 3:03 p.m. EST
  • NevGold Corp. (NAU) is up 3.23 per cent, trading at $0.32 per share as of 3:04 p.m. EST

NevGold Corp. (NAU) has issued approximately 3.65 million of its common shares to GoldMining Inc (GOLD).

The share payment, equal to $1.5 million issued at $0.41 per share, was issued as a part of the Nutmeg Mountain option agreement.

GoldMining now holds and has control and direction over close to 12.6 million common shares and 1.48 million warrants. This represents approximately 17.60 per cent of NevGold’s outstanding common shares on an undiluted basis and approximately 19.30 per cent on a partially diluted basis assuming the exercise of the warrants.

The share issuance payment is subject to the final approval of the TSX Venture Exchange. The securities issued to GoldMining are subject to a four-month hold period ending on May 2nd.

Under the agreement, NevGold has the right to acquire 100 per cent of the advanced-stage Nutmeg Mountain Gold Project in Idaho, which hosts a mineral resource estimate of 910,000 indicated ounces of gold, and 160,000 inferred ounces of gold with resource expansion and exploration potential.

GoldMining Inc. (GOLD) is down 2.60 per cent, trading at $1.50 per share as of 3:03 p.m. EST.

NevGold Corp. (NAU) is up 3.23 per cent, trading at $0.32 per share as of 3:04 p.m. EST.


More From The Market Online

Buzz on the Bullboards: The challenges amid inflation and geopolitical tensions

Canadian and U.S. stock markets grappled with a host of challenges, from surging inflation data to escalating tensions in the Middle East

@ the Bell: TSX sees first positive day in a week

Canadian stock markets moved up on Wednesday as investors await fresh cues about timing of this year’s interest rate cuts
TC Energy - Shot from the NGTL pipeline system.

TC Energy’s latest fuel spill sparks wildfire

The NGTL natural gas pipeline, owned by TC Energy, ruptured and caused a wildfire 40 kilometres northwest of Edson, Alberta, Tuesday morning.
PyroGenesis - PyroGenesis' STP torch for refrigerant destruction, hydrocracking and heating.

PyroGenesis to help global mining leader lower emissions

PyroGenesis Canada (TSX:PYR) signs a contract with a global mining supplier to apply its electric plasma torches towards emissions reduction.