Northwire Canada EditionThursday, November 12, 2026
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Gold 4,000.50 −0.7% Silver 52.00 +1.5% Copper 6.27 +0.5% Oil 86.53 +0.6% Palladium 1,030.00 +0.9% TIG 0.800 +0.0% RVG 0.715 −4.0% FNV 354.26 −2.4% FDY 4.30 −0.5% MAU 16.05 −3.2% VOXR 6.78 −0.6% TLO 7.04 −1.0% NICU 1.95 −5.8% VTEN 0.440 +0.0% AWM 0.025 +0.0% OR 50.79 −1.8% AUXX 5.30 −5.5% TNR 0.420 +40.0% ORCL 0.030 +0.0% ELD 47.71 −5.4% OPW 0.140 −6.7% Gold 4,000.50 −0.7% Silver 52.00 +1.5% Copper 6.27 +0.5% Oil 86.53 +0.6% Palladium 1,030.00 +0.9% TIG 0.800 +0.0% RVG 0.715 −4.0% FNV 354.26 −2.4% FDY 4.30 −0.5% MAU 16.05 −3.2% VOXR 6.78 −0.6% TLO 7.04 −1.0% NICU 1.95 −5.8% VTEN 0.440 +0.0% AWM 0.025 +0.0% OR 50.79 −1.8% AUXX 5.30 −5.5% TNR 0.420 +40.0% ORCL 0.030 +0.0% ELD 47.71 −5.4% OPW 0.140 −6.7%
Resource Estimate

Gold X2 Mining Delivers Preliminary Economic Assessment and Updated Mineral Resource Estimate for the Moss Gold Project

By The Northwire Desk — AI Analysis Jan 26, 2026 · 07:02 AUXX · 0.95 Gold X2 Mining Inc.
AUXX · Price

Executive Summary

  • Gold X2 Mining released a PEA for the Moss Gold Project showing after‑tax NPV5% of $2.232 bn (base case), IRR 22.1 % and a 3.2‑year payback at a gold price of US$2,750/oz.
  • Updated MRE reports indicated resources of 2.125 Moz Au (Indicated) and 3.910 Moz Au (Inferred) with accompanying silver grades, representing a ~73 % increase in Indicated ounces versus the prior estimate.
  • Capital requirements are projected at C$2.001 bn initial capex plus C$839 M sustaining capex; operating costs are low‑quartile (AISC US$1,188/oz Au).

Key Details

  • PEA Economic Highlights (Base Case – US$2,750/oz Au):
  • After‑tax NPV5%: C$2.232 bn
  • IRR: 22.1 %
  • Payback period: 3.2 years
  • Average annual payable gold production: ~265,000 oz; silver: ~374,000 oz (13.2‑year mine life)

  • After‑tax free cash flow over LOM: C$4.035 bn

  • PEA Economic Highlights (Long‑Term Consensus – US$3,137/oz Au):

  • After‑tax NPV5%: C$3.152 bn; IRR 28.1 %; Payback 2.5 years

  • PEA Economic Highlights (Spot Gold – US$4,600/oz Au):

  • After‑tax NPV5%: C$6.578 bn; IRR 48.6 %; Payback 1.0 year

  • Operating Cost Summary:

  • Mining cost: C$18.88/t milled (US$14.09)
  • Processing cost: C$12.29/t milled (US$9.17)
  • G&A cost: C$3.16/t milled (US$2.36)
  • Total site cost: C$34.33/t milled (US$25.62)

  • Cash Cost: US$999/oz Au; AISC: US$1,188/oz Au

  • Capital Expenditure:

  • Initial capex: C$2.001 bn (US$1.493 bn) – includes $303 M contingency
  • Sustaining capex: C$839 M (US$626 M)

  • Closure & monitoring: C$49 M; Working capital during construction: C$26 M; Salvage value: C$32 M

  • Mineral Resource Estimate (effective Jan 16 2026):

  • Indicated: 2.125 Moz Au at 1.03 g/t; 3.160 Moz Ag at 1.53 g/t within 64.3 Mt
  • Inferred: 3.910 Moz Au at 0.97 g/t; 6.273 Moz Ag at 1.55 g/t within 125.9 Mt

  • 73 % increase in Indicated ounces versus prior estimate, driven by new structural modeling and 2025 drilling

  • Mine Plan & Production Profile:

  • Open‑pit truck‑and‑shovel operation; 30,000 t/d processing plant
  • Total mill feed: 138,982 kt at 0.88 g/t Au; waste rock 668,255 kt; overburden 72,208 kt (strip ratio 5.3:1)

  • Expected total gold production: ~3.6 Moz; silver: ~4.5 Moz over LOM

  • Metallurgical Recovery:

  • Gold recovery: 91.7 % (consistent with PEA)

  • Silver recovery: 82.8 %

  • Power & Infrastructure:

  • Planned 40 MW power supply via a 12 km spur from Hydro One line; expected cost C$0.11/kWh

  • Royalties & Net Profit Interest:

  • NSR royalty average 0.11 % LOM

  • Net profit interest: 7.25 % after costs (capped at 5 % of sales)

  • Forward‑Looking Plans:

  • Feasibility Study targeted for H2 2027; environmental assessment and permitting work ongoing.
  • Exploration programs planned to expand resources adjacent to the pit, increase depth potential, and improve grade control.

Notable Quotes

“The Moss deposit MRE and PEA represents a major milestone… we have clearly demonstrated the potential for the Moss Deposit to be a top ten gold producer in Canada.” – Michael Henrichsen, CEO

All amounts are in Canadian dollars unless otherwise noted.

Read the original news release →

More from Gold X2 Mining Inc.

Nov 11, 2026 · 15:43

Bold Ventures advances the Moss project timeline with claim assembly and resource updates.

M&A / Property Nov 10, 2026 · 07:01

Gold X2 reports a deep hit at the QES deposit matching resource grade over an 188m true width.

Drill Results Nov 02, 2026 · 07:00

Gold X2 closed its Bold Ventures deal and expanded the Moss project footprint with a new resource update.

M&A / Property Oct 27, 2026 · 07:02

Gold X2 spins out a 1% NSR royalty to shareholders, unlocking value while preserving project economics.

M&A / Property Oct 14, 2026 · 07:01

Gold X2 infill drilling adds ounces while grades slip, positioning the Q1-27 MRE as the primary catalyst for the project.

Drill Results Sep 21, 2026 · 07:00

Gold X2 recycles known assay data as cash burns toward the Q1/27 mineral resource estimate for its project.

Drill Results