NEVADA KING ANNOUNCES $16 MILLION FINANCING INCLUDING A $10M STRATEGIC INVESTMENT BY CENTERRA GOLD INC.
Centerra Gold takes 9.9% stake as Nevada King secures $16M to hunt for the next million-ounce oxide deposit.
The most recent news (March 24, 2026) announces a $16 million non-brokered private placement. The centerpiece is a $10 million strategic investment by Centerra Gold Inc., which will result in Centerra owning 9.9% of Nevada King at $0.21 per share. Key insiders, including Chairman Collin Kettell and Michael Parker (19.9% holder), intend to participate to maintain their pro-rata positions. Funds are earmarked for regional exploration at the Atlanta Gold Mine Project, specifically targeting Silver Park, Atlanta South, Atlanta North, and Western Rim.
- Strategic Validation: The entry of Centerra Gold, an established mid-tier producer, is a significant "seal of approval" for the Atlanta Project’s technical merits and the company's "graben model" exploration thesis.
- Capital Position: The $16M raise significantly bolsters a balance sheet that showed only $6.2M in cash as of Dec 31, 2025. This provides a multi-year runway for the Phase 4 (20,000m) and potentially Phase 5 drill programs.
- Pricing Pressure: The $0.21 price point is a discount to the $0.25 private placement closed in April 2025 and significantly below the $0.47 exercise price of 15.9M options. This suggests a reset of the valuation floor.
- Institutional Shift: This marks a transition from a purely retail/insider-dominated registry (previously ~40% insider) to one with major corporate strategic involvement.
Nevada King Gold Corp. owns 100% of the Atlanta Gold Mine Project in the Battle Mountain Trend, Nevada. The project is a past-producing site with a current NI 43-101 M&I resource of 1.02 million ounces of gold at 1.14 g/t. The company’s strategy is to use modern geophysics (CSAMT) to find "blind" deposits hidden under volcanic cover, focusing on the Tertiary-Paleozoic unconformity.