4 Sept 2025resource reserve update● Neutral
A qualified person's consent filed alongside the feasibility study technical report. It carries no project information of its own.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
4 Sept 2025resource reserve update● Neutral
Filed the NI 43-101 technical report behind the July feasibility study, restating the same C$425 million after-tax net present value and 30.9% return at US$2,500 gold. No changes to the headline figures.
19 Aug 2025capital raising announcement▲ GoodMajor
Raised C$4.0 million split evenly between charity flow-through shares at C$0.43 and ordinary shares at C$0.39, issuing 9,779,368 shares in total. Prices are the highest of any raise in the cached record, three weeks after the feasibility study.
21 July 2025resource reserve update▲ GoodMajor
The feasibility study - the first study for New Polaris with actual reserves rather than a conceptual mine plan - gave an after-tax net present value of C$425 million and a 30.9% return at US$2,500 gold, or C$793 million and 47.3% at the then-spot US$3,300, on pre-production capital of only C$250 million. The mine is an underground operation averaging 9.94 g/t diluted over life, containing 904,000 ounces of gold and recovering 805,589, at an all-in sustaining cost of US$1,247 an ounce. For comparison the 2019 conceptual study showed a 56% return, but at a US$1,500 gold price and without reserves or a stated capital figure in this release.
4 Mar 2025capital raising announcement▲ Good
Closed a C$3.22 million charity flow-through financing, 9,200,000 shares at C$0.35, for Canadian exploration spending at New Polaris. A third higher per share than the C$0.2625 Sun Valley paid a year earlier.
What it means for a shareholder
9.2m new shares at C$0.350 to raise about C$3.2m. That's 4.5% dilution: every existing holder's slice gets 4.5% smaller. If you held C$1,000 of shares (2,857 at the issue price), your slice goes from 0.00147% to 0.00141% of the company. To keep it you'd need 136 more shares - about C$48 at the issue price.
Create a free account to see this worked out for your own holding.
8 Jan 2025other▲ GoodMajor
Flagged antimony as a second product at New Polaris. Metallurgical work done in 2022 on a 700 kg composite averaging 0.44% antimony, not optimised for antimony recovery, still recovered 92% of it into the gold concentrate at 3.07% antimony. Antimony is a critical mineral in Canada, the US and the EU and its price rose sharply in 2024 after Chinese export restrictions. The company says adding it changes neither permitting nor the mine schedule - so this is a possible revenue addition, not yet a quantified one.
16 Oct 2024resource reserve update● Neutral
Filed an SK-1300 technical report summary for New Polaris, the US disclosure equivalent of the Canadian technical report. The cached exhibit contains no readable text - the document body is empty table cells - so nothing beyond the fact of the filing can be reported from it.
18 Sept 2024drilling progress report▲ GoodMajor
The final two holes closed out the North Zone expansion programme with 10.8 g/t gold over 4.3 metres and 10.4 g/t over 3.6 metres in NP24-34 and 14.1 g/t over 1.1 metres in NP24-33A - a weaker finish than the middle of the programme. All assays are now in and the company is modelling the new shallow mineralisation for a possible resource addition.
29 Aug 2024drilling result▲ GoodMajor
Twenty-six more North Zone holes: 20.2 g/t gold over 4.4 metres in NP24-09, 18.3 g/t over 4.5 metres in NP24-28, 14.9 g/t over 2.1 metres in NP24-11, and a wider 9.4 g/t over 9.8 metres also in NP24-09. Grades and widths in line with the first five holes, all at shallow depth.
18 July 2024drilling result▲ GoodMajor
The first five holes of a resource-expansion programme in the North Zone - new ground rather than infill - all hit: 14.5 g/t gold over 3.8 metres and 12.9 g/t over 3.8 metres in NP24-01, 10.6 g/t over 5.0 metres in NP24-02, 13.2 g/t over 2.6 metres within 8.6 g/t over 9.8 metres in NP24-04, and 12.3 g/t over 3.6 metres plus 12.9 g/t over 4.6 metres in NP24-05. Shallow, from 75 to 230 metres down hole.
29 Mar 2024capital raising announcement● NeutralMajor
Closed a C$4.12 million charity flow-through financing entirely with Sun Valley Investments - 15,700,000 shares at C$0.2625 - for New Polaris exploration. Sun Valley is now not just the largest holder but the sole source of this round.
What it means for a shareholder
15.7m new shares at C$0.2625 to raise about C$4.1m. That's 9.0% dilution: every existing holder's slice gets 9.0% smaller. If you held C$1,000 of shares (3,810 at the issue price), your slice goes from 0.00241% to 0.00219% of the company. To keep it you'd need 379 more shares - about C$99 at the issue price.
Create a free account to see this worked out for your own holding.
31 July 2023capital raising announcement● NeutralMajor
Raised C$4.41 million issuing 21,000,000 shares at C$0.21, with two insiders among the subscribers. The price is 20% above the C$0.175 rights offering seven months earlier but a fraction of the C$0.50 flow-through price of late 2021.
What it means for a shareholder
21.0m new shares at C$0.210 to raise about C$4.4m. That's 20% dilution: every existing holder's slice gets 20% smaller. If you held C$1,000 of shares (4,762 at the issue price), your slice goes from 0.00577% to 0.0046% of the company. To keep it you'd need 1,212 more shares - about C$255 at the issue price.
Create a free account to see this worked out for your own holding.
3 July 2023resource reserve update● Neutral
Filed the NI 43-101 technical report supporting the May resource estimate. No new figures.
16 May 2023resource reserve update▲ GoodMajor
The updated resource estimate delivered what the drilling was for: indicated resources of 2.97 million tonnes at 11.6 g/t gold for 1.11 million ounces, an 89% increase in indicated ounces on the 2019 study, with inferred at 0.93 million tonnes at 8.93 g/t for 0.27 million ounces. Tonnage rose 23% on the new veins found by the 2021-22 infill drilling and the indicated grade improved 8% to 11.61 g/t from 10.8. Crossing one million indicated ounces is what the feasibility study needed.
7 Feb 2023drilling result▲ GoodMajor
Twenty-one holes from a 9,000-metre programme confirmed high grade near surface in the Y-vein system, a shallower target than the C veins: 53.8 g/t gold over 2.78 metres (2.03 metres true width) from only 63.9 metres down hole P22Y10, 9.64 g/t over 7.14 metres (5.66 true) in P22Y09, and 18.0 g/t over 5.64 metres in a vein that was not in the model at all. The Y19 and Y20 veins now run 300 metres of strike, open north and south, and the company says the results fit the 2019 study's mine plan parameters.
25 Jan 2023material agreement▲ GoodMajor
Signed the Ha Khustiyxh ("Our Way") agreement with the Taku River Tlingit First Nation, in whose territory New Polaris sits, setting a framework for exploration and laying the ground for the longer-term agreements that permitting, construction and production will each require. For a project on the Taku River this is a precondition, not a courtesy.
19 Dec 2022capital raising announcement● NeutralMajor
The rights offering closed fully subscribed but only because of the backstop: shareholders took 25,277,221 shares at C$0.175 for C$4.42 million, a 55% take-up, and Sun Valley absorbed the remaining 20,352,577 shares under its standby guarantee. Sun Valley therefore financed nearly half of it and moved further above the 20% control threshold shareholders had approved in October.
What it means for a shareholder
25.3m new shares at C$0.175 to raise about C$4.4m. That's 23% dilution: every existing holder's slice gets 23% smaller. If you held C$1,000 of shares (5,714 at the issue price), your slice goes from 0.00693% to 0.0053% of the company. To keep it you'd need 1,751 more shares - about C$306 at the issue price.
Create a free account to see this worked out for your own holding.
9 Nov 2022capital raising announcement● Neutral
The exhibit filed here is the rights offering standby guaranty agreement with Sun Valley, but the cached copy contains no readable text - only empty table cells. The agreement's terms cannot be read from this filing; the 28 October and 7 November releases describe it.
7 Nov 2022capital raising announcement● Neutral
Filed the rights offering circular: one right per share held at the 10 November record date, every two rights buying one share at C$0.175, to raise C$7,985,215. Sun Valley is disclosed as an insider and related party standing behind it.
31 Oct 2022capital raising announcement● NeutralMajor
Launched a rights offering to all shareholders rather than a placement, positioned as the fairest way to fund the feasibility study and permitting. Sun Valley, now an insider, is providing a standby guarantee - which means whatever ordinary shareholders do not take up, Sun Valley does, and its stake rises accordingly.
20 Oct 2022capital raising announcement● NeutralMajor
Two things in one release. Shareholders at the special meeting approved, by 97.5% of the 20% of shares voted, letting Sun Valley Investments go above 20% of the company - formally creating a new control person out of the shareholder who had run the proxy fight three months earlier. The C$1.5 million charity flow-through financing announced on 1 September closed alongside it.
12 Oct 2022resource reserve update▲ GoodMajor
Retained Ausenco to run the New Polaris feasibility study, with a brief that includes rebuilding the resource model to take in the 30,000-plus metres drilled since 2021 and, for the first time, calculating mining reserves. Announced under the new CEO Catalin Kilofliski, five weeks after the board change.
7 Sept 2022other● Neutral
Confirmed that further financing - a placement, a rights offering or more flow-through - is under consideration to carry the company through feasibility, permitting and drilling, and that Sun Valley is expected to participate in whatever comes.
1 Sept 2022other▼ BadMajor
Arranged up to C$4 million: a C$1.5 million charity flow-through at a premium to market, plus a C$2.5 million unsecured interim credit facility from Sun Valley at 5.5%. Sun Valley is expected to take part in the flow-through too and go above 20%, which requires a special shareholder meeting to approve the change of control. Three months after fighting SunValley in a proxy contest, the company is funding itself from the same party.
31 Aug 2022resource reserve update▲ GoodMajor
Put the New Polaris feasibility study out to tender among seven engineering firms. The release restates the 2019 preliminary economic assessment - US$1,500 gold, US$400 an ounce cash costs, after-tax net present value C$469 million, 56% return, indicated resource 586,000 ounces at a 4 g/t cut-off - as the basis for going to feasibility.
22 Aug 2022other▲ Good
Drill crews remobilised to New Polaris for resource expansion drilling, the first operational news after the board change.
13 July 2022other▼ Bad
A final proxy reminder before the 15 July deadline, with management saying support has been strong. It was not: four days later three of Canagold's own nominees, including chairman Bradford Cooke, withdrew rather than stand.
7 July 2022asset acquisition disposition▲ Good
Sold the 160-acre Hot Springs Point property in Eureka County, Nevada for US$480,000 cash. It is the fifth of the fourteen properties in the 2017 American Innovative Minerals package to be leased, optioned or sold, with seven more still on offer - a slow liquidation of the Nevada portfolio to fund New Polaris.
30 June 2022other▼ Bad
A third escalating release against SunValley ahead of the vote, urging shareholders to discard the dissident circular. The tone - the company accusing its own large shareholder of a campaign of lies - is itself the information here.
28 June 2022drilling result▲ GoodMajor
The final four holes of the 54-hole, 30,000-metre programme produced its two best results: 34.4 g/t gold over 6.6 metres in hole 21-1700E3, including 646 g/t over 0.3 metres, and in hole 21-1800E3 37.2 g/t over 5.0 metres and 17.0 g/t over 9.0 metres, a combined 13.6 g/t over 25.1 metres. Visible gold meant metallic screen fire assay was used. A 646 g/t half-metre is the kind of number that makes an average - treat the wide composite, not the sub-interval, as the signal.