Mentioned:
One of the largest gold companies in the world is making a new bet on the future of Nevada.
What’s happening:
- Eminent Gold (TSXV: EMNT) has announced they will raise $5M CAD in a new equity financing round
Why it matters:
- Gold conglomerate Kinross Gold (TSX: K) has publicly stated they will lead Eminent Gold’s financing round and take a 9.9% equity stake in the company
Going deeper:
- Eminent Gold’s flagship properties the Hot Spring Range Project and the Celts Projects are both located in Nevada
- The Hot Spring Range Project is located nearby claims operated by Nevada Gold Mines, which is a joint venture project between Barrick Gold (NYSE: GOLD) and Newmont (NYSE: NEM)
- Kinross Gold and Eminent Gold will also collaborate on forming a technical advisory committee to advance exploration plans at both the Hot Spring Range Project and the Celts Project
The intrigue:
- Gold projects located in America have come into major focus lately in the public markets, largely fulled by President Donald Trump’s new executive order which has added gold to the list of official critical minerals in the United States
