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Gold 4,079.60 −0.8% Silver 51.94 −0.8% Copper 6.24 −0.5% Oil 90.83 +0.3% Palladium 1,017.10 −2.6% KRN 0.260 −7.1% GSKR 2.84 +5.6% ADE 0.125 +4.2% NRM 0.055 +0.0% BBB 0.520 −1.9% LGD 2.09 +1.9% DEC 0.110 +0.0% LCE 0.200 +0.0% NILI 0.515 −1.0% CDE 21.85 +6.7% CAN 0.045 +0.0% LORD 0.100 +0.0% HBM 29.49 +2.3% ELEF 0.265 +120.8% MUN 0.300 +0.0% SAGA 0.400 +6.7% Gold 4,079.60 −0.8% Silver 51.94 −0.8% Copper 6.24 −0.5% Oil 90.83 +0.3% Palladium 1,017.10 −2.6% KRN 0.260 −7.1% GSKR 2.84 +5.6% ADE 0.125 +4.2% NRM 0.055 +0.0% BBB 0.520 −1.9% LGD 2.09 +1.9% DEC 0.110 +0.0% LCE 0.200 +0.0% NILI 0.515 −1.0% CDE 21.85 +6.7% CAN 0.045 +0.0% LORD 0.100 +0.0% HBM 29.49 +2.3% ELEF 0.265 +120.8% MUN 0.300 +0.0% SAGA 0.400 +6.7%
Financings Routine +

Hercules Metals Closes Bought Deal Private Placement of C$31.5 Million

Hercules Metals Secures C$31.5 Million to Fuel Idaho Copper Expansion

By The Northwire Desk — AI Analysis May 20, 2026 · 08:36 BIG · 0.61 Hercules Metals Corp.
Executive Summary
  • Hercules Metals Corp. closed a bought deal private placement on May 20, 2026, raising C$31.5 million.
  • The offering consisted of 53,353,000 common shares issued at C$0.59 per share.
  • Proceeds are designated for exploration and development of the Hercules property in western Idaho and general working capital.
  • Underwriters were BMO Capital Markets and SCP Resource Finance with a 6% cash fee.
  • Insiders subscribed for an aggregate of 185,000 common shares, signaling management confidence.
  • This financing follows the announcement on May 5, 2026, which outlined the same terms (C$23.2M LIFE Offering + C$6.8M Concurrent).
Material Impact
  • The financing is a material execution of previously announced plans rather than new unexpected information.
  • Raising C$31.5 million significantly extends the company's operational runway, allowing continuation of the 2026 drilling program initiated in March.
  • The issuance price (C$0.59) was slightly below the recent market trading range ($0.61-$0.63), indicating a discount to incentivize capital raising but creating short-term dilution pressure.
  • Insider participation of 185,000 shares is positive but small relative to total issuance (0.3%), suggesting limited immediate insider conviction at this price point compared to historical levels.
  • The capital raise mitigates the risk of exploration halt, supporting the material drilling results released in March and April which defined the Leviathan system's scale.
BIG · Price
Company Overview
  • Company: Hercules Metals Corp. (TSX-V: BIG).
  • Flagship Project: Hercules Property, Western Idaho, USA.
  • Discovery: Leviathan Porphyry Copper System, characterized by copper-molybdenum-silver mineralization.
  • Land Position: Over 100,000 acres contiguous land package following Barrick option agreement and recent lease acquisitions.
  • Exploration Status: Phase II drilling program underway (2026 campaign), targeting expansion of Leviathan system and testing new geophysical anomalies (Pegasus, Hook, Donut).
  • Jurisdiction: Idaho is ranked among the world's best mining jurisdictions by the Fraser Institute.
Read the original news release →

More from Hercules Metals Corp.

Oct 22, 2026 · 18:23

Hercules secures $30m funding to expand its Idaho copper porphyry project.

Financings Sep 30, 2026 · 06:31

Hercules’ Southern Flats step-out confirms the zone but is deep, unenriched and largely already priced.

Drill Results Sep 14, 2026 · 06:32

Hercules reports hook edge-hole alteration at its C$500 million project, with assays pending and no grade to re-rate.

Drill Results Aug 31, 2026 · 16:31

Hercules secures capital and aligns interests ahead of an aggressive drilling campaign in Idaho.

Financings Aug 05, 2026 · 07:01

Hercules’ incoming CEO team invested C$4.5m in shares, signalling confidence in the company’s massive Idaho copper district.

Financings Jul 30, 2026 · 09:48

Hercules appoints Ogilvie as chief executive officer after he led the development of the C$2 billion Sonoran project in Arizona.

Management