Gold Company Sparks Momentum With US$5M Raise in Idaho, Nevada
The private placement for NevGold Corp. (NAU:TSX.V; NAUFF:OTC; 5E50:FSE) aims to drive exploration across its gold and antimony assets, tapping into rising demand for critical metals. Read more to find out how this funding supports high-grade drill targets and key milestones in Nevada and Idaho.
NevGold Corp. (NAU:TSX.V; NAUFF:OTC; 5E50:FSE) has announced a brokered private placement to raise up to US$5 million, designed to support its exploration activities at key assets in Nevada and Idaho. Clarus Securities Inc. will lead the syndicate of agents on a best-efforts basis, arranging the issuance of units at US$0.30 per unit under the listed issuer financing exemption, allowing for broader retail participation without a statutory hold period in Canada.
Each unit comprises one common share and one-half warrant, with each whole warrant exercisable at US$0.45 for 24 months following the offering's close. The agents will receive a 7% cash commission and 7% in non-transferable broker warrants, entitling the holder to purchase one unit at the issue price for two years. Commissions and warrants will be reduced for subscriptions on the company's president's list. The offering is expected to close on or about May 29, 2025, subject to TSX Venture Exchange and regulatory approvals.
Proceeds will fund exploration at NevGold's 100%-owned Limousine Butte gold-antimony project in Nevada and the Nutmeg Mountain gold project in Idaho. According to the news release, funds will also support general working capital needs. The Limousine Butte project, historically producing 91,000 ounces of gold between 1989 and 1990, has shown recent high-grade drill intercepts. Notable 2025 results include 54.9 meters grading 4.07 grams per tonne (g/t) gold equivalent and 61.0 meters grading 2.61 g/t gold equivalent, both containing meaningful antimony values.
Meanwhile, Nutmeg Mountain hosts a 2023 mineral resource estimate of 1.01 million ounces indicated and 275,000 ounces inferred at an average grade of 0.61 g/t gold, based on a 0.30 g/t cut-off. The project benefits from proximity to infrastructure and a low strip ratio, with ongoing work aimed at further resource growth and metallurgical testing.
NevGold emphasized that offering documents are available on SEDAR+ and its website for prospective investors seeking additional details.
Antimony Sector Sees Rising Demand and Strategic Repositioning Amid Supply Shifts
Antimony has garnered increasing global attention due to its diverse applications across critical industries and emerging clean technologies. According to a January report by Investing News Network, antimony was included on critical mineral lists by the United States, Canada, the European Union, the United Kingdom, and Australia. Traditionally used as a fire retardant accounting for approximately 60% of annual demand antimony also plays key roles in solar panels, wind turbines, munitions, and advanced batteries.
In 2024, the price of antimony rose to US$34,200 per metric ton, up sharply from an average of US$7,000 in 2020. INN noted that "with demand outpacing supply, the antimony outlook is robust," citing its importance in military applications, electronics, and energy storage. The compound antimony trioxide, commonly used in fire retardants, was highlighted as a primary driver of demand. Market Research Intellect added that "as technology advances, new electronic applications such as those found in the Internet of Things (IoT) and autonomous vehicles are fueling demand for high-performance materials that are resistant to heat and corrosion."
Antimony's role in national defense has also been a growing focus. On May 20, Fox News reported that antimony was critical to a wide array of military applications, including "night-vision goggles, explosives, flame-retardants, tracers, lasers, nuclear weapons production, military clothing and ammunition." The report also emphasized antimony's use in the production of semiconductors and infrared systems, noting that it contributes to "the bloodless AI arms race."
The sector has experienced major shifts driven by geopolitical tensions and efforts to localize supply. A Straits Research report projected that the global antimony market would grow from US$2.62 billion in 2025 to US$4.83 billion by 2033, with a compound annual growth rate of 7.9%. This trend was attributed to rising demand from sectors like renewable energy, electric vehicles, and construction, as well as government regulations enforcing higher fire safety standards.
The report also cited a global supply squeeze following China's 2024 export restrictions. In response, Western economies have taken steps to strengthen domestic production. For example, in April 2025, the U.S. advanced ten critical mineral projects under the FAST-41 initiative, including antimony-focused efforts. Straits Research observed that "geopolitical tensions are reshaping supply chains," and noted that antimony prices surged by more than 375% in late 2024 due to tightening Chinese export controls.
These dynamics have not only underscored the material's strategic importance but also catalyzed renewed investment in domestic mining and recycling technologies. The United States, in particular, has fast-tracked permitting processes to reduce reliance on foreign sources. Canada has similarly increased funding for exploration and sustainability-focused projects.
Well Positioned for Growth: Project Pipeline and 2025 Milestones
NevGold is advancing multiple assets across top-tier jurisdictions in the Western United States, with significant upcoming milestones outlined in its April 2025 corporate presentation. The company's pipeline includes the Limousine Butte and Nutmeg Mountain gold projects and the Zeus copper project, all wholly owned.
At Limousine Butte, current activity includes re-assaying approximately 20 historical drill holes to quantify antimony, a critical mineral with growing strategic importance. New assays released in early 2025 highlight thick, near-surface oxide mineralization, with gold-equivalent grades benefiting from strong antimony values. The company is also conducting reverse circulation drilling totaling approximately 5,000 meters and preparing to release a new mineral resource estimate later in 2025.
Nutmeg Mountain is another focus area. Following a 2023 mineral resource estimate showing over 1 million ounces of indicated gold, the company is targeting a second resource update based on ongoing drilling and metallurgical testwork. The project is open laterally and at depth, with step-out drilling targeting high-grade feeder zones beyond the existing pit shell.
In parallel, NevGold is preparing for first-phase drilling at the Zeus copper project in Idaho's Hercules Copper Trend. The project shares geological features with Hercules Metals Corp.'s recent copper-gold-molybdenum discovery, which attracted a CA$30 million strategic investment from Barrick Gold. Surface sampling at Zeus has identified multi-kilometer-scale copper soil anomalies at the Poseidon and Thorn Springs targets, with geophysics underway and permitting in progress.
NevGold's strategy includes leveraging its established presence in the Americas to rapidly grow its gold and copper resource base. The company's enterprise value as of April 2025 stood at approximately CA$31.5 million, with a tight capital structure and major shareholders including GoldMining Inc. and McEwen Mining.
NevGold's Technical Setup Draws Positive Attention from Analyst
NevGold Corp. attracted favorable commentary from Technical Analyst Clive Maund on April 10, who highlighted the company's technical chart pattern and recent drill results as contributing factors to renewed market interest.
Streetwise Ownership Overview*
NevGold Corp. (NAU:TSX.V; NAUFF:OTC; 5E50:FSE)
*Share Structureas of 5/21/2025Source: Refinitiv & NevGold Corp.In remarks to Streetwise Reports, Maund stated, "With more good discovery news out of the company this morning and the sector recovering after the shakeout of a few days back as the dollar craters, this looks like an excellent point to buy NevGold." He noted that the stock's recent decline from a high of CA$0.42 to CA$0.29 occurred on light volume, suggesting a consolidation phase. Maund also referenced the stock's alignment with a rising 200-day moving average and its March rally on strong volume as indicators of technical strength.
On April 10, NevGold shares closed at CA$0.31 (US$0.231), up approximately 7% on the day after intraday gains reached as high as 12%. Maund viewed the recovery and ongoing uptrend as signals of potential continued momentum.
Ownership and Share Structure
Strategic investors include GoldMining Inc., which holds 28.3% of the company on an undiluted basis, and McEwen Mining Inc.
The company said about 30% is held by management and insiders. According to Refinitiv, these include Non-Executive Chairman Giulio T. Bonifacio with 4.56%, CEO Brandon Bonifacio with 3.46%, Independent Director Gregory French with 0.85%, and Independent Director Timothy Dyhr with 0.70%, Refinitiv said.
About 10% is held by institutions, and the rest is in retail.
As for its share structure, NevGold has 94.25 million outstanding shares and 57.25 million free-float traded shares. Its market cap is CA$28.33 million. Its 52-week trading range is CA$0.17 and CA$0.50 per share.
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Important Disclosures:
As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of NevGold Corp. James Guttman wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.For additional disclosures, please click here.