Welcome to our dedicated page for P2 Gold news (Ticker: PGLDF), a resource for investors and traders seeking the latest updates and insights on P2 Gold stock.
P2 Gold Inc. reports company developments tied to its gold-copper exploration and development activities, with recurring updates on the Gabbs Project in Nevada, drilling at project zones such as Lucky Strike, and mineral property arrangements in British Columbia.
News about P2 Gold also covers project acquisition payment terms, option agreements, exploration services, stock option grants, capital-structure actions, shareholder matters, governance updates, and operating or financial results associated with its junior mining issuer profile.
P2 Gold (OTC:PGLDF) received an updated research report from Couloir Capital titled "Expanding Scale at Lucky Strike and Early De-Risking Strengthen Gabbs; Maintain BUY." The report highlights 33 holes at Lucky Strike, combined mineralized thicknesses up to ~125m, a limited 700m-by-500m drill footprint, Sullivan intercepts up to ~175m, acquisition of 2,500 ac-ft/yr water rights, and milestones: a mid-2026 resource update and a Q4-2026 feasibility study.
Eskay Mining and P2 Gold announced the termination of their previously agreed-upon business combination due to current market conditions. Initially, Eskay intended to acquire P2 Gold under a non-binding letter of intent dated June 4, 2024. Despite the cancellation, both companies will continue their collaboration through an exploration services agreement. This agreement involves P2 Gold planning and executing an exploration program on Eskay's Corey Property for the 2024 exploration season, with teams mobilizing to the site this week.
P2 Gold Inc. and Eskay Mining Corp. are mobilizing exploration crews to the Eskay-Corey Property in the Golden Triangle of northwest British Columbia. The exploration program, supervised by P2's Chief Exploration Officer Ken McNaughton, aims to ground-truth geological and geophysical data and develop drill targets. This mobilization follows a business combination agreement between Eskay and P2 signed on June 4, 2024. Phase One will focus on validating existing data, with Phase Two expected to begin later this year.
Eskay Mining and P2 Gold have agreed to merge, focusing on gold and copper exploration in the Golden Triangle and Nevada. Announced on June 4, 2024, the transaction will see Eskay acquire P2, with P2 shareholders receiving 0.2778 Eskay shares per P2 share. Upon completion, Eskay shareholders will own 80% and P2 shareholders 20% of the combined company. The merger aims to leverage P2's expertise, especially in the Eskay-Corey Property and Gabbs Project. The transaction requires multiple approvals, including from shareholders and regulatory bodies, and is expected to close by October 31, 2024.
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P2 Gold Inc. (TSX-V:PGLD, OTCQB:PGLDF) has resumed its preliminary economic assessment (PEA) for the Gabbs Project in Nevada, now expected to conclude in Q3 2023. The PEA was initially delayed due to inflation concerns. A recent 3-D geophysical model identified a high-priority exploration target for gold-copper porphyry beneath the Gold Ledge Zone, though additional permits are required for drilling. Additionally, P2 Gold restructured payment terms with Waterton Nevada Splitter, LLC, raising their ownership to 19.9% through the issuance of new shares. This move aims to enhance the company’s financial position.
P2 Gold Inc. (TSX-V:PGLD) announced the successful restructuring of payment terms for the Gabbs Project acquisition, approved by the TSX Venture Exchange. The deal involves issuing 2,659,748 shares to Waterton Nevada Splitter, LLC, alongside a payment plan totaling US$5.8 million scheduled between 2023 and 2026. Additionally, a US$4 million zero coupon convertible note was issued, convertible at C$0.30 per share. The restructuring aims to strengthen the company's financial position and is considered a related party transaction under Multilateral Instrument 61-101.
P2 Gold Inc. (TSX-V:PGLD) has announced an agreement to acquire the Ball Creek Claims from a subsidiary of Orogen Royalties Inc. This acquisition includes the western portion of the Ball Creek Property, which borders P2's BAM Project. As per the terms, P2 will issue four million shares to Orogen and grant a 1% net smelter returns royalty on production from the claims. Furthermore, a 2% Sandstorm Gold royalty exists on the property, with the option to repurchase 1% for $1 million. The agreement is subject to approval by the TSX Venture Exchange.
P2 Gold Inc. (TSX-V:PGLD, OTCQB:PGLDF) announces a restructuring of payment terms for the acquisition of the Gabbs Project in Nevada, subject to approval by the TSX Venture Exchange. Under the new agreement with Waterton, P2 will delay majority payments for over three years, allowing strategic advancement of the project. The revised terms include issuing approximately 2.66 million shares and staggered cash payments totaling US$2.4 million by December 2026. A US$4 million convertible note will also be issued, convertible at C$0.30 per share. Waterton's stake will increase to 19.9% post-restructuring.