Scottie sells bulk sample, nets $9-million
None
On December 1, 2025, Scottie Resources announced it has successfully sold a bulk sample from the Bend vein at its Scottie Gold Mine Project, generating approximately C$9 million in net revenue. The sale consisted of 4,588 wet tonnes with preliminary average grades of 15.89 g/t gold and 42.28 g/t silver. The company characterized the exercise as a successful "dry run" of its Direct-Ship Ore (DSO) model, providing valuable logistical and technical insights. The sale was executed via an agreement with strategic partner Ocean Partners.
Concurrently, Scottie announced an upsize to its previously announced non-brokered financing (from November 17, 2025). The offering of charity flow-through shares at C$2.14 per share was increased from C$23.5 million to approximately C$24.2 million due to strong demand.
This news is materially positive and represents a significant de-risking event for the company.
- Proof of Concept: The successful mining, transport, and sale of the bulk sample is a crucial real-world validation of the Direct-Ship Ore (DSO) model outlined in the October 28, 2025, Preliminary Economic Assessment (PEA). It demonstrates that the logistics chain is viable and that a marketable product can be produced. This moves the project beyond a paper study and provides tangible proof to the market and potential financiers.
- Non-Dilutive Funding: The C$9 million in net revenue is substantial, non-dilutive capital. Management has stated these funds will be used for the upcoming Feasibility Study and permitting work, reducing the need to issue shares for these critical, value-adding activities.
- Execution Track Record: Scottie has demonstrated excellent operational execution. The company received the bulk sample permit in late July, completed mining and transport by early October, and finalized the sale by December. This progression shows management's ability to deliver on stated timelines, which builds significant credibility.
- Financial Strength: Combined with the ~$15.9 million financing closed in September and the upsized ~$24.2 million financing in progress, the company is exceptionally well-funded to aggressively advance the project through a Feasibility Study. The upsizing of the latest financing, which is being done at a significant premium to the market price, signals strong institutional and investor confidence.
- Grade Confirmation: The preliminary grade of 15.89 g/t gold from this bulk sample is excellent and reinforces the high-grade nature of the deposit.
Compared to previous news, this announcement is the culmination of the work initiated mid-year and provides a positive financial and operational outcome that validates the company's entire DSO strategy.
Scottie Resources Corp. is a Canadian precious metals exploration and development company focused on its 100%-owned Scottie Gold Mine Project located in the Golden Triangle of British Columbia. The flagship project includes the past-producing, high-grade Scottie Gold Mine and the adjacent Blueberry Contact Zone. The company's strategy is to fast-track the project to production via a low-capital expenditure, high-margin Direct Shipping Ore (DSO) operation. In May 2025, the company announced a maiden Inferred Mineral Resource Estimate of 703,000 ounces of gold at an average grade of 6.1 g/t. This was followed by a robust Preliminary Economic Assessment (PEA) in October 2025.