The BMI Group to partner with and invest in CHAR Technologies
The companies will collaborate on expediting biocarbon production at CHAR's Thorold facility in Ontario
CHAR Technologies processes waste from wood, agriculture and other organic sources into renewable natural gas, green hydrogen and a carbon-neutral biocarbon that replaces metallurgical steel-making coal
CHAR Technologies stock has given back 39.19 per cent year-over-year but remains up by 125 per cent since 2020
The BMI Group, a leading real estate and business developer, will invest C$2 million into CHAR Technologies (TSXV:YES), a sustainable energy solutions provider, through a non-brokered private placement.
The investment coincides with a binding letter of intent between the companies to accelerate commercial biocarbon production at CHAR's Thorold facility in Ontario, which is expected to be built by Q4 2025.
As per the agreement, BMI Group will also acquire project-level ownership in the Thorold facility and will be granted the right to nominate a director to CHAR's board.
The BMI Group is the largest owner and redeveloper of end-of-use paper mills in Ontario, including the Bioveld Niagara Multimodal Hub, where the Thorold facility is located, as well as Bioveld North in Espanola in the province's wood fibre basket, where the companies will co-develop a new renewable energy facility.
According to Friday's news release, the financing is expected to close by May 9, 2025. Leadership insights
'By investing in innovative companies like CHAR Technologies and revitalizing assets such as Bioveld North and Niagara, we're putting wood fibre back to work in next-generation applications,' Paul Veldman, The BMI Group's chief executive officer (CEO), said in a statement. 'We see significant long-term opportunity in our partnership with CHAR Technologies, as The BMI Group continues to invest in the strategic retooling of industrial sites across Canada.'
'This partnership marks a pivotal milestone in advancing biocarbon production at our CHAR Tech Thorold facility,' added Andrew White, CEO of CHAR Technologies. 'With The BMI Group's infrastructure expertise, we are positioned to accelerate project delivery and generate strong returns for our investors. This collaboration also opens the door to further opportunities already in development—most notably, the tremendous potential we see in Espanola.' About CHAR Technologies
CHAR Technologies' pioneering temperature pyrolysis technology processes waste from wood, agriculture and other organic sources into renewable natural gas, green hydrogen and a carbon-neutral biocarbon that replaces metallurgical steel-making coal.
CHAR Technologies stock (TSXV:YES) opened with a gain of 2.27 per cent trading at C$0.22. The stock has given back 39.19 per cent year-over-year but remains up by 125 per cent since 2020.
Join the discussion: Find out what everybody's saying about this renewable energy stock on the CHAR Technologies Ltd. Bullboard and check out Stockhouse's stock forums and message boards.
The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.
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Toronto Star
2 hours ago
- Toronto Star
Bocana Resources Corp. Signs Letter of Intent to Acquire Mining Claims in Arizona
CALGARY, Alberta, Aug. 05, 2025 (GLOBE NEWSWIRE) — Bocana Resources Corp. (TSXV: BOCA) (Frankfurt: VC1) ('Bocana' or the 'Company') is pleased to announce that it has entered into a binding letter of intent (the 'LOI') dated July 24, 2025 for the proposed acquisition (the 'Transaction') of 100% of the rights, title and interests in the U.S. Bureau of Land Management ('BLM') placer mining claims (the 'Claims') owned by LP Associates, LLC of Buffalo MN. ('LPA, LLC' or the 'Seller'), an arm's length limited liability company formed under the laws of the State of Minnesota. The Transaction The Claims, which are comprised of seventy-two (72) 20-acre claims, total approximately 1,440 acres in size. The Claims are located in Pinal County, Arizona, approximately 85 miles southeast of Phoenix (Figure #1) and are in two contiguous areas, one containing 1,240 acres and the other block containing 160 acres. Figure # 2 also provides a more detailed location of the placer claims. Pursuant to the LOI, Bocana will acquire a 100% ownership interest in the Claims through a newly formed subsidiary, Arizore LLC, a limited liability company registered in the state of Nevada. Bocana will acquire the Claims for a total purchase price of US$27,500,000 (the 'Purchase Price'). An initial $200,000 deposit has been made to the Seller, which shall be applied as a credit toward the Purchase Price at closing. ARTICLE CONTINUES BELOW ' Bocana is very pleased with the proposed acquisition of the LPA, LLC's Claims. This acquisition is significantly better than several of the other opportunities that the Company has reviewed, and we look forward to developing this asset as quickly as possible for the benefit of our shareholders,' said Tim Turner, Bocana's Chief Executive Officer. The transactions contemplated by the LOI are subject to the following conditions: a) The entering into of a definitive agreement in respect of the Transaction (the 'Definitive Agreement') between LPA, LLC and Bocana. The Definitive Agreement will describe the terms and conditions upon which the Transaction will be completed; b) the completion of all financing by Bocana to satisfy the Purchase Price; c) the completion of satisfactory due diligence by Bocana; and d) regulatory approvals, including but not limited to the TSX Venture Exchange. The Transaction will be treated as a 'Fundamental Acquisition' pursuant to TSX Venture Exchange Policy 5.3. No finder's fees are to be paid in connection with the Transaction. Figure # 1- Location Map of Placer Claims Historical Technical Reports Technical reports have been prepared for four (4) of the Claims in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects ('NI 43-101'). The results of these technical reports are briefly summarized below. ARTICLE CONTINUES BELOW ARTICLE CONTINUES BELOW 1. Placer Mining Claim LPA4-04- 20 Acres The first technical report, entitled Technical Report for the LPA4-04 Placer Gold Claim in the Florence Basin, Pinal County, Arizona, USA, was prepared by A. Roach, Ph.D., R.G., with an effective date of January 25, 2021. Data disclosed in this news release on the LPA4-04 claim was provided from this report. Figure # 3 provides the location of the auger drill holes completed on the LPA4-04 placer claim. Table #1 provides the assay results from the auger drill holes. Key Findings: Average grade estimations of 4.6 oz/ton of gold and 1.9 oz/ton of silver (Table # 1) from 6 drill holes. Multi-element assay results. Assay results were from auger drilling to 10-foot depths. Consistency of high-grade gold assay results in all holes (Table # 1). Figure # 2 – Location Map of Placer Claims Figure # 3 – Drill Hole Location Map Table # 1 – Holes DP01-06 Located on LPA4-04 Placer Claim 2. Placer Mining Claim LPA4-08- 20 Acres The second 20-acre technical report, entitled Technical Report for the LPA4-08 Placer Gold Claim in the Florence Basin, Pinal County, Arizona, USA, was prepared by A. Roach, Ph.D., R.G., with an Effective date of January 25, 2021. Drill hole locations posted on Figure #3, DP-07-10, Table # 1 provides the multi-element assay results. Key Findings: Average grade estimates of 1.4 oz/ton (48 g/t) of gold and 0.4 oz/ton (13.7 g/t) of silver were determined from 4 holes. Similar consistency in higher grade gold concentrations as in LPA4-04 results. Multi-element concentrations lower than adjoining claim LPA4-04 to the east. 3. Placer Mining Claim Dirt-01 – 20 Acres The third technical report, also on a 20-acre claim, entitled Technical Report for the Dirt-01 Placer Gold Claim in the Florence Basin, Pinal County, Arizona, USA, was prepared by Ronnie G Parker, CPG-#06163, with an Effective date of February 1, 2022. The Dirt-01 Placer Gold Claim is located approximately 1-1/2 miles (0.9 kilometer) west of Highway 79. Highway 79 may be accessed by Highway 77 and Interstate 10, which is located 27 miles (43.2 kilometers) to the south and west of the claim, as shown on Figure #4 below. Figure # 5 provides the drill collar locations on the claim. Table # 2 posts the assay results from the drilling program. Key Findings: Average estimated grades of 0.589 oz/ton (16.7 g/t) of gold and .475 oz/ton (13.5 g/t) of silver from 9 drill holes. Demonstrating consistency in higher-grade mineralization. Figure #4 Dirt-01 Location Map Figure #5 – Drill Collar Location Map – Dirt-01 Placer Claim Table 2. - Assay data from the DIRT-01 Placer Gold Claim for the 2020 drill holes. 4. Placer Mining Claim Dirt-02 – 20 Acres The fourth 20-acre technical report, entitled NI-43-101 Technical Report for the Dirt-02 Placer Gold Claim in the Florence Basin, Pinal County, Arizona, USA, was prepared by Ronnie G Parker, CPG-#06163, with an Effective date of February 1, 2022 and a Technical Update as of August 8, 2022. The Dirt-02 Placer Gold Claim is located approximately 2-1/2 miles (0.9 kilometer) west of Highway 79. Highway 79 may be accessed by Highway 77 and Interstate 10, which is located 27 miles (43.2 kilometers) to the south and west of the claim. Access to the claim is via a small dirt road off Highway 79 at mile marker 10. See Figure #6. Figure #7 provides the Dirt-02 drill collar locations. ARTICLE CONTINUES BELOW ARTICLE CONTINUES BELOW Figure #6 – Dirt-02 Location and Access. Figure #7 Drill Collar Locations Table #3 Assay information for the 2020 drill holes from the DIRT-02 Placer Gold Claim. All data listed below is shown in ounces per ton. Key Findings: Average grades from 10 drill holes - 0.452 oz/ton (12.81 g/t) of gold and 0.546 oz/ton (15.48 g/t) of silver. All drill holes assayed high gold concentrations. Continuation of multi-element mineralization. Comments on Sampling Drilling was conducted using a two-man auger. Sufficient auger flights were required to reach depths up to 11 feet (3.05 meters). Sample material was collected in a specially designed metal container that surrounded the auger. Samples were transferred to a clean plastic bucket for transport to the splitting location. Sample splitting was conducted onsite with a small riffle splitter. The site geologist performed the sample splitting. One split of material was packaged in a plastic bag for sample analysis. The remaining portion of the split was returned to the plastic bucket for storage at a secure locality off-site. The splitter was cleaned between samples. All historical assay results are documented in the four NI-43-101 reports provided to the Company; however, assay certificates indicating the methods used, weight of samples, details on the assay procedures were not in the reports and have not been provided to the Company. Conclusions/Recommendations Historical assay results indicate potentially economic concentrations of gold with associated silver, platinum, palladium, and rhodium on all four claims mentioned. Bocana will require due diligence studies, including additional drilling, sample assays, and metallurgical studies to confirm the results from each of these four reports. It is recommended that, in future drilling programs on all of the claims that notes on detailed logging of the sample material be undertaken, in particular the presence/ absence of apparent gravel layers during the drilling, along with approximate depth. The removal of gravel from samples, either because it is not carried by the auger or is at the splitting stage, has the potential to lead to higher or lower assay values. Therefore, one or more bulk samples should be taken in order to assess whether grades are significantly different than those obtained by drilling. Qualified Person Mr. Lorne Warner, the Company's consulting geologist, is an independent, 'Qualified Person' as defined by NI 43-101. Mr. Warner has approved the scientific and technical information included in this news release for dissemination. ARTICLE CONTINUES BELOW ARTICLE CONTINUES BELOW The LOI was negotiated at arm's length. The Transaction does not represent a change of business. There will be no change of directors or officers of the Company required by the Transaction. The TSX Venture Exchange has in no way passed upon the merits of the Transaction and has neither approved nor disapproved the contents of this press release. About Bocana Resources Corp. Bocana is a mineral exploration company focused on the acquisition, exploration, and development of mineral properties in North and South America. Bocana, through its wholly owned subsidiary, Huiracocha International Service SRL, holds a 100% working interest in the mineral properties known as the Escala area concessions located in the Department of Potosi, Sud Lipez Province, Bolivia, as awarded by Comibol. Contact Information For more information on Bocana, visit: For more information or interview requests, please contact: Timothy J. Turner – Chief Executive Officer info@ (713) 858-3329 Forward-Looking Information This news release contains 'forward-looking information' within the meaning of applicable securities laws. Forward-looking information can be identified by words such as: 'intend', 'believe', 'estimate', 'expect', 'may', 'will', 'approximately', 'planning', 'projected', 'anticipate', and similar references to future periods. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Bocana, as the case may be, to be materially different from those expressed or implied by such forward-looking information, including but without limitation, statements pertaining to the Transaction including Bocana's ability to obtain financing and the necessary approvals, including regulatory approvals for the Transaction, the negotiation and execution of the Definitive Agreement, the estimates of potential quantity, grade, and metal and mineral content at the Claims, Bocana's assessment of the reliability and relevance of the historical drill results, and the ability of Bocana to operate the exploration and development programs for the Claims. All statements included herein involve various risks and uncertainties because they relate to future events and circumstances beyond Bocana's control. Forward-looking statements are inherently uncertain, and the actual performance may be affected by several material factors, assumptions and expectations, many of which are beyond the control of the parties, including expectations and assumptions concerning (i) the Seller; (ii) the Transaction; (ii) the ability of the Parties to negotiate and enter into the Definitive Agreement on satisfactory terms as proposed, (iii) the timely receipt of all required regulatory approvals (as applicable), including the approval of the TSXV, (iv) if the Definitive Agreement is entered into, the satisfaction of other closing conditions in accordance with the terms of the Definitive Agreement, and (v) the ability of the Parties (as applicable) to complete the Financing and/or the Transaction on the terms outlined in this news release (or at all). Although Bocana has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated, or intended. Readers are cautioned not to place undue reliance on forward-looking information. The forward-looking statements contained in this news release are made as of the date hereof, and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, except as required by law. This news release shall not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. ARTICLE CONTINUES BELOW ARTICLE CONTINUES BELOW Images accompanying this announcement are available at ARTICLE CONTINUES BELOW ARTICLE CONTINUES BELOW
Cision Canada
2 hours ago
- Cision Canada
Gold Eyes $3,500 as Miners Race to Unlock High-Grade Ounces Before Year-End
Issued on behalf of RUA GOLD Inc. VANCOUVER, BC, Aug. 5, 2025 /CNW/ -- Equity Insider News Commentary – The upward momentum for gold price projects continues, as the precious metal opened the week above $3,400 after a recent labor data revision. Analysts continue to adjust their gold price forecasts, with the next three months looking to hit $3,500, with Fidelity projecting a potential $4,000 per ounce price by year-end. And it's not just the bullion dealers that stand to benefit, as gold mining majors are already publicly stating they expect bumper profits as gold's prices and volumes surge. In response, gold miners as a group are leading in gains on spot price on the weak US jobs data, leaving an opportunity for retail investors in the market to take a better look at miners making moves as of late, such as RUA GOLD Inc. (TSXV: RUA) (OTCQB: NZAUF), Dundee Precious Metals (TSX: DPM) (OTCPK: DPMLF), Gold Resource Corporation (NYSE-American: GORO), Nova Minerals Limited (NASDAQ: NVA), and Cerrado Gold Inc. (TSXV: CERT) (OTCQX: CRDOF). According to a recent report from Reuters, the TSX is currently approaching its own recent record high, as gold mining shares continue to climb. As gold flirts with all-time highs and silver rips through multi-year resistance, investors are beginning to rotate into junior miners as the next logical phase of the precious metals bull run. RUA GOLD Inc. (TSXV: RUA) (OTCQB: NZAUF) just announced a major expansion to its Reefton drill campaign, mobilizing a third rig and targeting over 4,000 metres of new drilling at Auld Creek to grow the gold-antimony resource above 300,000 ounces by year-end. The company is also initiating deeper drilling at Cumberland and advancing Alexander River as a third priority asset—all part of a 12-month strategy aimed at fast-tracking permitting and transitioning from explorer to developer. "We closed Q2 2025 with $14 million in the treasury, placing us in a strong position to execute on our aggressive exploration plan in New Zealand," said Robert Eckford, CEO of RUA GOLD. "As our gold-antimony resource continues to grow rapidly—and with antimony at the top of every nation's critical minerals list—the significance of this expansion is substantial." The Reefton Goldfield is a historically prolific district that produced more than 2 million ounces at grades up to 50 g/t. RUA GOLD now controls 120,000 hectares (roughly 95%) in the area and has confirmed multiple stacked mineralized shoots at Auld Creek, including a standout intercept of 2.1 m at 64 g/t AuEq (5.5 g/t gold and 13.1% antimony). New modeling work is underway ahead of a resource update, while two rigs continue testing depth and lateral continuity. Antimony continues to be a major tailwind for the company's positioning, with prices surging past US$50,000 per tonne in 2025 following China's export restrictions. New Zealand has formally designated it as a critical mineral, adding further significance to RUA GOLD's dual-commodity profile at Auld Creek. Surface samples have returned over 40% Sb, and several drill holes exceed 8%—grades rarely seen this early in a project's development cycle. Three kilometres south, RUA GOLD has put a third drill rig to work at Cumberland, following up on strong recent hits such as 1 m at 26.9 g/t, and earlier assays of 62.2 g/t and 1 m at 1,911 g/t within the Gallant vein system. This AI-generated target has confirmed shallow continuity along a 600 m strike, with additional step-outs in motion across a 2.5 km corridor. Meanwhile, at Alexander River, modeling is underway to build on a 130,000 oz inferred resource grading 4.1 g/t. The zone hosts 1.2 km of outcropping mineralization and returned historical production of 41,000 oz at 26 g/t before World War II halted mining. Targets at Caledonia and other regional zones are also in development. On the North Island, drill access applications have now been submitted for RUA's Glamorgan project in the Hauraki Goldfield—home to the 10 Moz Martha mine. Glamorgan's 4 km gold-arsenic anomaly has been refined using CSAMT surveys and VRIFY's DORA AI engine, with drilling expected to begin in Q4. "Over the past month, our Board and Management team have been focused on shaping the Company's strategy to transition us from an explorer to a developer," added Eckford. "With New Zealand's highly supportive permitting regime, our goal is to rapidly build ounces on our balance sheet and enter the 'Fast Track Permitting Process' in 2026." With a disciplined burn rate, $14 million in cash, and a leadership team behind US$11 billion in prior exits, RUA GOLD is well-positioned to deliver meaningful discovery growth and advance permitting across both islands. The current multi-rig program aims to stack near-surface ounces at scale—across gold, antimony, and future targets shaped by AI and legacy-grade geology. In other industry developments and happenings in the market include: Dundee Precious Metals (TSX: DPM) (OTCPK: DPMLF) recently reported record free cash flow of US$85.7 million and adjusted net earnings of US$51.5 million for Q2 2025, driven by strong production at both the Chelopech and Ada Tepe mines. "We continue to consistently deliver robust free cash flow, generating a record $174 million year-to-date, further strengthening our financial capacity to fund growth," said David Rae, President and CEO of Dundee. "At the same time, our investors are benefiting from our low-cost, high-margin gold production as we continue to return capital to shareholders, demonstrated by the repurchase of a record 10 million shares during the first half of the year. The company sold 72,700 ounces of gold and 6.9 million pounds of copper during the quarter, while also advancing its Loma Larga permitting process in Ecuador. With a debt-free balance sheet and over US$500 million in liquidity, Dundee also reaffirmed its 2025 production guidance and declared a quarterly dividend of US$0.05 per share. Gold Resource Corporation (NYSE-American: GORO) recently announced improved operational metrics and new high-grade drill results from its Don David Gold Mine in Oaxaca, Mexico. Notable intercepts include 7.3 g/t gold and 280 g/t silver over 5.2 metres in the Switchback vein, and 9.2 g/t gold over 1.9 metres in the Arista vein system. "Consistent high-grade drill intercepts, along with an improved understanding of the geology, have allowed us to build more confidence in the mine plan of the Three Sisters system and reinforcing its role as a key contributor to future mine production," said Allen Palmiere, President and CEO of GORO. "In addition, we are excited about the potential benefits from bringing in an experienced mining contractor along with their new equipment, while changing out some of our old fleet with good used equipment to improve our efficiencies and returns. We remain focused on integrating the Three Sisters system into our short-term mine plan while continuing to advance exploration efforts aimed at driving sustainable growth and maximizing shareholder value." The company reduced all-in sustaining costs by 9% quarter-over-quarter and reported strong underground development progress across multiple zones. Nova Minerals Limited (NASDAQ: NVA) has released new metallurgical test results from its RPM deposit at the Estelle Gold Project, showing strong recoveries using a combined flowsheet approach. Ore sorting achieved a 4.33x grade increase—from 1.32 g/t to 5.72 g/t—in a single pass, while heap leach tests on lower-grade material delivered gold recoveries up to 68.7%. "We are extremely pleased with the results emerging from our ongoing metallurgical test work program at the RPM Deposit, which we believe continues to demonstrate the exceptional quality and scalability of the Estelle Project," said Christopher Gerteisen, CEO of Nova Minerals. "The ability to extract up to 68.7% gold recovery from lower-grade material through heap leaching, combined with a 4.33 times upgrade using ore sorting technology, is a significant technical breakthrough, in our opinion. These results underscore the economic potential through innovative processing methods as we continue to refine our development pathway." The company says these results support its strategy of combining CIP/CIL processing with ore sorting and heap leaching to maximize project economics ahead of its upcoming prefeasibility study. Cerrado Gold Inc. (TSXV: CERT) (OTCQX: CRDOF) recently announced it had produced 11,437 gold equivalent ounces at its Minera Don Nicolás Mine in Q2 2025, with underground development at the Paloma pit now underway and expected to ramp up in H2. "As the heap leach continues to ramp up to its fully expanded capacity, we continue to be confident in our full year expectations as the underground operations ramp-up in H2/25," said Mark Brennan, CEO and Chairman of Cerrado. " Cerrado also continued to progress both the Lagoa Salgada project and the Mont Sorcier projects towards completion of feasibility studies by Q3/2025 and Q1/2026 respectively, which we believe should demonstrate substantial value being unlocked by Cerrado's development projects." Heap leach upgrades and a 20,000m drill program are in progress to boost recovery and expand resources, while exploration drilling has already intercepted new vein structures. The company is also advancing feasibility work at its Lagoa Salgada and Mont Sorcier projects, with updates expected later this year. CONTACT: Equity Insider [email protected] (604) 999-4849 DISCLAIMER: Nothing in this publication should be considered as personalized financial advice. We are not licensed under securities laws to address your particular financial situation. No communication by our employees to you should be deemed as personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. Equity Insider is a wholly-owned subsidiary of Market IQ Media Group, Inc. ("MIQ"). This article is being distributed for Media Corp. ("BAY"), who has been paid a fee by a third-party, Sidis Holdings Limited ("Sidis") for an advertising contract between Sidis and RUA Gold Inc.. MIQ has not been paid a fee for RUA Gold Inc. advertising or digital media, but the owner/operators of MIQ also co-owns Media Corp. ("BAY") There may also be 3rd parties who may have shares of RUA Gold Inc. and may liquidate their shares which could have a negative effect on the price of the stock. This compensation constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. Because of this conflict, individuals are strongly encouraged to not use this publication as the basis for any investment decision. The owner/operator of MIQ does not own any shares of RUA Gold Inc. but reserve the right to buy and sell, and will buy and sell shares of RUA Gold Inc. at any time without any further notice commencing immediately and ongoing. We also expect further compensation as an ongoing digital media effort to increase visibility for the company, no further notice will be given, but let this disclaimer serve as notice that all material, including this article, which is disseminated by MIQ on behalf of Sidis has been approved by RUA Gold Inc. Technical information relating to RUA GOLD Inc. has been reviewed and approved by Simon Henderson, CP, AUSIMM, a Qualified Person as defined by National Instrument 43-101. Mr. Henderson is Chief Operational Officer of RUA GOLD Inc., and therefore is not independent of the Company; this is a paid advertisement, we currently do not own any shares of RUA Gold Inc. but will likely buy and sell shares of the company in the open market, or through private placements, and/or other investment vehicles. While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between the any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.
The Market Online
3 hours ago
- The Market Online
Eric Sprott refreshes stake in Canadian gold stock
Teuton Resources (TSXV:TUO) closed a C$1.6 million non-brokered private placement, including participation from top Canadian mining investor Eric Sprott Teuton is a mineral prospect generator with interests in more than twenty properties in British Columbia's mineral-rich Golden Triangle region The Canadian gold stock has given back 11.88 per cent year-over-year and 79.01 per cent since 2020 Canadian gold explorer Teuton Resources (TSXV:TUO) closed a C$1.6 million non-brokered private placement, including participation from top Canadian mining investor Eric Sprott. This content has been prepared as part of a partnership with Teuton Resources Corp., and is intended for informational purposes only. The company issued 2 million units priced at C$0.80, with each unit composed of one share and half a warrant, and each warrant entitling the owner to purchase one share for C$1.20 up to two years from closing. Sprott acquired 660,000 units through 2176423 Ontario Ltd., a corporation he beneficially owns, joining Dino Cremonese, Teuton's president, who acquired 100,000 units. According to Tuesday's news release, Sprott is a company insider, meaning he owns at least 10 per cent of Teuton Resources shares. Teuton will allocate the proceeds to working capital and to exploring its sizeable portfolio in British Columbia's Golden Triangle, which includes: A 20 per cent carried interest in the Treaty Creek project, one of the largest gold discoveries over the past three decades, in addition to a 0.98 per cent net smelter returns (NSR) royalty covering the project's flagship Goldstorm gold-silver-copper deposit and a 0.49 per cent royalty in the peripheral claims, neither subject to a buyback. Numerous royalties in claim packages south of Seabridge Gold's KSM property, the world's largest undeveloped gold project by resources. Additional royalties south of Newmont Mining's Brucejack property, one of the world's highest-grade gold mines in production, generating 286,000 ounces in fiscal 2023. The TSXV conditionally approved the transaction on July 25, 2025, subject to satisfactory closing, with no finder's fees or commissions associated with the final amount raised. The news follows May's spinout of Luxor Metals, to which Teuton allocated 20,481 hectares in mineral claims in northwestern British Columbia. About Teuton Resources Teuton is a mineral prospect generator with interests in more than twenty properties in British Columbia's mineral-rich Golden Triangle region. The Canadian gold stock (TSXV:TUO) is up by 2.3 per cent on the news trading at C$0.89 as of 10:27 am ET. The stock has given back 11.88 per cent year-over-year and 79.01 per cent since 2020. Join the discussion: Find out what investors are saying about Eric Sprott investing in this Canadian gold stock on the Teuton Resources Corp. Bullboard. Additionally, 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.
