M&A / Property
Liberty Gold Announces Closing of the Sale of Goldstrike and Corporate Update
Liberty Gold Closes Goldstrike Sale to Fund Black Pine Feasibility; Centerra Maintains Stake
Executive Summary
- Liberty Gold Corp. announced the closing of the sale of its Goldstrike Project in Utah to Heliostar Metals Ltd. for a total consideration of US$72.5 million.
- The transaction includes an upfront payment of US$10 million in cash and approximately 1.6 million Heliostar common shares (valued at ~US$2.5 million).
- Additional milestone payments totaling $60 million are tied to future project milestones or timeframes up to five years from closing.
- Centerra Gold Inc. exercised its "top-up right" to maintain its 9.9% equity interest, issuing 2,033,992 common shares at C$1.17 per share for proceeds of approximately C$2.4 million.
- Proceeds are intended to fund the advancement of Liberty Gold's flagship Black Pine Oxide Gold Project in Idaho.
Material Impact
- The closing confirms execution of a previously announced transaction (March 23, 2026), meaning the market had already priced in the deal terms and value unlock.
- The immediate receipt of US$10 million cash materially strengthens the balance sheet, increasing liquidity from ~US$28.1 million (FY 2025) to approximately US$38+ million upon closing.
- This capital infusion reduces execution risk for the Black Pine Feasibility Study and permitting timeline, supporting a construction decision target of late 2027.
- Centerra Gold's continued investment demonstrates strategic confidence but does not represent new upside beyond the existing 9.9% stake established in September 2025.
- The news is positive for operational stability but lacks the "unexpected" element required for a Material - Positive rating given prior disclosure.
LGD · Price
Company Overview
- Company: Liberty Gold Corp., a development-stage mining company focused on precious metals in the United States.
- Flagship Project: Black Pine Oxide Gold Project (Idaho), one of the largest undeveloped oxide gold projects in the Great Basin.
- Resource Estimate: Updated February 2026 MRE shows 4.88 Moz Indicated and 1.05 Moz Inferred gold ounces at a cut-off grade of 0.10 g/t Au.
- High-Grade Subset: 1.91 Moz Indicated within the high-grade subset (COG 0.50 g/t).
- Project Status: Feasibility Study engineering commenced November 2025; permitting accepted into FAST-41 framework January 2026.
- Other Assets: Goldstrike Project (Utah) divested to Heliostar; Gage Project (Utah) divested to Blue Moon Metals; Antimony Ridge held for critical metals portfolio review.
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Jun 17, 2026 · 19:31