Au Gold Corp Announces $2 Million Private Placement
Au expands its Havelock drill program by 150% with $2m in discounted financing.
AU Gold Corp. announced a non-brokered private placement of $2,000,000, resulting in the issuance of 8,695,652 units at $0.23 per unit. Each unit comprises one common share and one-half warrant, with warrants carrying a $0.40 exercise price and remaining valid for three years from issuance. The company designated the proceeds for exploration on the Havelock Gold-Antimony Project and general corporate purposes.
Management confirmed an increase in the maiden diamond drill program from 2,000 meters to 5,000 meters, citing that drill targets have exceeded expectations. The transaction is subject to TSX Venture Exchange approval and carries a standard four-month-and-one-day hold period.
AU Gold Corp. (AUGC) priced its recent placement at $0.23 per share, a figure that sits within the company’s recent trading range of $0.23 to $0.27. This discount is standard for exploration-stage financings and marks a significant increase from the $0.15 price set in the March 2026 placement. The capital raise adds $2.0 million to the company’s existing cash position of approximately $1.81 million as of March 31, 2026, bringing total liquidity to roughly $3.8 million. This influx extends the company’s runway to support an expanded drilling campaign and ongoing corporate overhead.
The funds will directly finance a 150% increase in the planned drill program, a move intended to transition the Havelock project from historical reconstruction to modern resource definition. The financing aligns with previously announced plans to advance the project and serves as an expected follow-up to the target announcements made on September 16 and 21. No unexpected strategic partnerships or premium valuations were included in the deal.
Au Gold Corp. (TSXV: AUGC) is a mineral exploration company focused on gold and antimony. Its flagship asset is the Havelock Gold-Antimony Project, a 11,663-hectare property located in Victoria, Australia, between Bendigo and Ballarat. The project hosts the Shaw-McFarlane Trend (SMT), a historic gold-antimony belt approximately 9 km in length. Modern literature correlates similar epizonal gold-antimony systems, such as Fosterville, Costerfield, and Sunday Creek, with significant depth potential exceeding 1,000 meters.
Historical hard rock production from the area between 1864 and 1891 totaled approximately 17,097 ounces at an average grade of 28.7 g/t Au. Historical workings reached depths of 152–274 meters, leaving vast untested vertical and lateral potential. The company also holds the Ponderosa Gold-Silver Property in British Columbia, which is currently in the pre-discovery and drill planning phase. Au Gold Corp. is in the exploration stage, and no NI 43-101 compliant mineral resources exist. All historical data predates modern standards and relies on subjective visual assessments.