Roscan Gold Stock Price, News & Analysis

Roscan Gold Corporation (RCGCF) is a Canadian gold exploration company in the Basic Materials sector, focused on the gold industry. According to company disclosures, Roscan concentrates on the exploration and acquisition of gold properties in West Africa, with a particular focus on its Kandiole Gold Project in West Mali. The company’s shares trade on multiple markets, including the TSX Venture Exchange under the symbol ROS, the Frankfurt Stock Exchange under 2OJ, and the OTCQB market under RCGCF.

Roscan states that it has assembled a significant land position of 100%-owned permits in an area that already hosts producing gold mines and major gold deposits. Its land package is located in a region that includes producing gold mines such as B2Gold’s Fekola Mine, which lies on a contiguous property to the west of Kandiole, as well as major gold deposits located both north and south of the Kandiole Project in West Mali. This setting places Roscan’s exploration activities within an established gold-producing district.

Business focus and project profile

The company describes itself as being focused on the exploration and acquisition of gold properties. Its flagship asset is the Kandiole Gold Project in West Mali, where Roscan has disclosed a Mineral Resource Estimate (MRE) and an additional exploration target. At the Kandiole Project, Roscan has reported an indicated MRE of 27.4 million tonnes at 1.2 g/t gold for 1.02 million ounces and an inferred MRE of 5.2 million tonnes at 1.2 g/t gold for 0.20 million ounces. These estimates were reported using a cut-off grade of 0.3 g/t gold for oxide material and 0.42 g/t gold for fresh material, based on a gold price of US$1,500 per ounce.

In addition to the stated resource, Roscan has outlined an exploration target for potential MRE growth, estimated between 8 million tonnes at 1.0 g/t gold and 30 million tonnes at 0.8 g/t gold within the MRE areas, alongside positive exploration results outside the MRE areas. The company notes that this exploration target is conceptual in nature, that there has not been sufficient exploration to define a mineral resource, and that it is uncertain if further exploration will result in the target being delineated as a mineral resource.

Corporate development and strategic direction

Roscan’s recent disclosures emphasize its transition from pure exploration toward project development. The company highlights that it is progressing from advanced exploration into permitting and development activities at Kandiole. It has referenced work on a Preliminary Economic Assessment and the pursuit of a mining permit as key steps in moving the project along the development path.

In 2025, Roscan reported that it strengthened its position as an emerging West African gold developer by securing strategic financing, advancing its regulatory standing in Mali, and aligning its balance sheet with long-term project development. The company notes that it raised capital through equity and insider-led convertible note financings, reflecting continued support from strategic investors and directors. Roscan also reports achieving key permitting milestones, including exploration permit renewals following a partial lifting of Mali’s mining title suspension, which it views as important for advancing the Kandiole Gold Project and supporting its transition from explorer toward developer.

Regulatory and permitting environment in Mali

Roscan’s activities are closely tied to the regulatory framework of Mali’s mining sector. The company has disclosed that the Malian Ministry of Mines announced a partial lifting of the suspension on processing applications related to mining titles, including renewals of research and exploitation permits and applications for transitioning from research to exploitation. Roscan describes this as a significant milestone for the country’s mining sector and a major de-risking event for the Kandiole Gold Project.

Following this policy change, Roscan received formal approval from Mali’s Council of Ministers for the renewal of its key exploration permits. The company states that this renewal supports the Government of Mali’s continued backing for mineral exploration and development and provides a foundation to advance the Kandiole Gold Project. Roscan has indicated that the next major milestones include obtaining a mining permit and advancing its Preliminary Economic Assessment, which it regards as critical steps in moving from exploration to development.

Capital structure and financing approach

Roscan has described several financing initiatives designed to support working capital and project advancement. The company has used secured subordinate promissory notes and secured convertible notes as part of its capital structure. It has announced extensions to the maturity dates of outstanding secured subordinate promissory notes and has completed non-brokered private placements of secured convertible notes with a group of investors, including participation by insiders and directors.

These notes typically bear interest at 12% per annum and are convertible into common shares at specified conversion prices, subject to conditions described by the company. Roscan has stated that gross proceeds from these financings are intended for general corporate and working capital purposes. The company has also noted that certain of these transactions constitute related party transactions under applicable securities regulations and that it relies on available exemptions from valuation and minority shareholder approval requirements, given its listing status and the scale of insider participation relative to its market capitalization.

Corporate governance and leadership updates

Roscan has reported changes to its board of directors as part of its evolution from advanced exploration toward permitting and development. The company announced that its President and CEO, Nana Sangmuah, was appointed Executive Chairman of the Board of Directors, succeeding a previous Non-Executive Chairman who stepped down for personal reasons. Roscan also disclosed the appointment of a new director with experience in capital markets and the mining industry, including prior leadership at another TSX Venture-listed mining company and a background in research coverage of gold producers and developers.

In connection with board changes, Roscan has granted incentive stock options under its Stock Option Plan to a director, with options exercisable at a specified price per share over a multi-year term. These actions reflect the company’s stated focus on strengthening its leadership and governance as it advances its growth strategy in the gold sector.

Engagement with investors and industry

Roscan highlights its participation in mining-focused investor events as part of its outreach to the capital markets. The company has announced that it will present at The Investor Icebreaker 2026: The Michael Gentile Mining Showcase in Vancouver, a curated investor forum held during Vancouver’s annual mining conference week. Roscan notes that this event is structured around group and one-on-one investor meetings and is intended to facilitate discussions on corporate strategy, near-term milestones and catalysts, project development and technical priorities, and capital markets positioning.

The company characterizes these forums as opportunities to communicate its strategy and upcoming plans to mining-focused investors and to engage in direct conversations about its investment thesis and project pipeline. This investor engagement complements Roscan’s ongoing disclosures about financing, permitting, and technical progress at Kandiole.

Risk considerations and disclosure practices

Roscan’s news releases frequently include cautionary notes regarding forward-looking information. The company identifies risks such as changes in equity and debt markets, fluctuations in commodity prices, delays in obtaining regulatory or governmental approvals, and other risks associated with the mineral exploration and development industry. It directs readers to its management’s discussion and analysis filed on SEDAR+ (or SEDAR) for additional risk factors and clarifies that forward-looking information is based on management opinions and assumptions considered reasonable as of the date of each release.

For technical information, Roscan identifies a designated Qualified Person under National Instrument 43-101 who reviews and approves technical disclosures, including the Mineral Resource Estimate and exploration target for the Kandiole Project. The company also reiterates that its exploration target is conceptual and that there is no certainty it will be converted into a mineral resource.

Position within the gold exploration sector

Within the gold exploration segment of the Basic Materials sector, Roscan positions itself as a company focused on building value through exploration, resource definition, and progression toward development in a known gold-producing region of West Africa. Its strategy, as described in its public communications, centers on advancing the Kandiole Gold Project through permitting, technical studies, and targeted exploration, supported by financing arrangements that include equity and convertible debt.

Investors analyzing RCGCF can review Roscan’s disclosures for details on its land position, resource estimates, exploration targets, permitting status in Mali, and capital structure. The company’s emphasis on West African gold exploration, its 100%-owned permits in a district with existing mines and deposits, and its stated transition from explorer toward developer provide the primary context for understanding Roscan’s business model and risk profile.