canadamining

Sixty North Gold Secures CAD $3.6M to Restart High-Grade Mon Gold Mine

Sixty North Gold Mining has closed a CAD $3.6 million project financing, clearing the path to restart operations at its high-grade Mon Gold Mine in Canada’s Northwest Territories.

💰 Financing: CAD $3.6M term loan from Vesta Wealth Partners

🏭 Use of Funds: Install & commission a 100-tonne-per-day mill; move toward first gold production

📊 Terms: 12% interest, 36-month term, no principal payments until Dec 2026

🪙 Royalty: 2.5% NSR on Mon Gold Mine (buyback option up to $5M)

With gold prices near historic highs, restarting a high-grade, past-producing mine gives Sixty North strong leverage to the gold cycle—though royalties and warrants mean investors should watch dilution and margins closely.

#GoldMining #GoldNews #MiningStocks #PreciousMetals #CanadaMining $PAXG $XAU

🟨 Seabridge to Spin Out Northwest Territories Gold Project

Seabridge Gold plans to spin out its Courageous Lake gold project in Canada’s Northwest Territories into a new standalone company, aiming to unlock shareholder value and accelerate development.

• Courageous Lake will be spun out into a new entity, expected to be called Valor Gold

• The project hosts one of Canada’s largest undeveloped gold resources

• Shares of the new company are expected to be distributed to Seabridge shareholders

By separating Courageous Lake from its flagship KSM asset, Seabridge gives investors clearer exposure to a high-quality gold project that could attract focused capital and strategic partners.

#SeabridgeGold #GoldMining #SeabridgeGold #CourageousLake #CanadaMining $PAXG