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Financings

TomaGold Receives $1,000,000 Cash Payment

Final $1 Million Contingent Payment Provides Vital Liquidity Buffer Following $300,000 Fraud Loss

By The Northwire Desk — AI Analysis Dec 19, 2025 · 17:05 LOT · 0.045 TomaGold Corporation
Executive Summary

On December 19, 2025, TomaGold confirmed the receipt of a final $1,000,000 cash payment from IAMGOLD Corporation. This payment stems from the previously announced disposition of the Hazeur and Monster Lake properties. In addition to the cash, TomaGold retains a 2.0% Net Smelter Return (NSR) royalty on these properties, with IAMGOLD holding a right to buy back 1.0% for an additional $1,000,000.

Material Impact

This news is materially positive for TomaGold’s immediate survival but must be viewed through a lens of extreme caution. - Liquidity Infusion: As of the May 31, 2025, financial statements, the company had a measly $18,033 in cash and a working capital deficit of over $800,000. This $1M payment, combined with the recently closed $1M private placement (Dec 17), effectively repairs a broken balance sheet in the short term. - Offsetting Losses: The company recently disclosed a "sophisticated financial fraud" loss of US$300,000 (~CAD$410,000). This $1M payment effectively recovers that lost capital plus a surplus for exploration. - Non-Dilutive: Crucially, this funding does not require issuing more shares at the current depressed prices ($0.04 - $0.05 range). - Project Scalability: Management claims this will allow for scaling the Chibougamau projects in 2026. However, the company has a history of amending option agreements (SOQUEM, Globex, CIM) to delay work commitments, suggesting they have been struggling to meet financial obligations.

LOT · Price
Company Overview

TomaGold is focused on the Chibougamau mining camp in Quebec. - Flagship Project: Obalski (100% owned). It is a former producer with significant historical data. - Strategy: The company is attempting a "camp-scale" consolidation by optioning 20+ properties from SOQUEM, CIM, and Globex. - Geological Thesis: Targeting north-south structures (020-030 trend) which management believes were overlooked by historical miners who focused on the 110-degree shear systems.

Read the original news release →

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