Northwire Canada EditionThursday, November 12, 2026
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Gold 3,885.30 −2.9% Silver 50.06 −3.7% Copper 6.19 −1.5% Oil 88.70 +2.5% Palladium 991.50 −5.2% MFG 3.25 −4.7% RAGE 0.295 +0.0% DPM 50.56 −4.2% ARIS 21.08 −4.7% AUEN 0.170 +6.2% FCI 0.540 −1.8% SLI 1.98 −5.3% COCO 0.350 −4.1% BCU 0.060 +0.0% BGF 0.025 +0.0% TDG 0.710 +44.9% PRU 6.04 −4.1% NGEX 21.01 −5.2% TWO 0.340 −8.1% BIG 1.03 +8.4% VCG 1.06 −3.6% Gold 3,885.30 −2.9% Silver 50.06 −3.7% Copper 6.19 −1.5% Oil 88.70 +2.5% Palladium 991.50 −5.2% MFG 3.25 −4.7% RAGE 0.295 +0.0% DPM 50.56 −4.2% ARIS 21.08 −4.7% AUEN 0.170 +6.2% FCI 0.540 −1.8% SLI 1.98 −5.3% COCO 0.350 −4.1% BCU 0.060 +0.0% BGF 0.025 +0.0% TDG 0.710 +44.9% PRU 6.04 −4.1% NGEX 21.01 −5.2% TWO 0.340 −8.1% BIG 1.03 +8.4% VCG 1.06 −3.6%
Earnings

Mayfair Gold Reports Q3 2026 Operating and Financial Results

By The Northwire Desk — AI Analysis Nov 12, 2026 · 17:27 MFG · 3.25 Mayfair Gold Corp.
MFG · Price

Mayfair Gold Corp. (MFG) reported operating and financial results for the quarter ended September 30, 2026, highlighting a pro forma liquidity position of approximately C$25.6 million. The company secured a strategic investment from Macquarie Bank Limited, closing on October 14, 2026, which contributed approximately C$10.0 million in gross proceeds received subsequent to the quarter end. Management highlighted the company's strong funding position and progress on the Fenn-Gib Project, including its designation under Ontario's One Project One Process (1P1P) and a non-binding term sheet for up to C$300 million in project financing.

The pro forma liquidity position of approximately C$25.6 million comprises cash and cash equivalents of C$15.6 million as at September 30, 2026, and approximately C$10.0 million in gross proceeds from the Macquarie Bank strategic investment, closed on October 14, 2026. The strategic investment with Macquarie Bank Limited was accompanied by a non-binding term sheet for up to C$300 million in project financing, with C$25 million available for early drawdown once binding.

Regarding the Fenn-Gib Project, Mayfair Gold has secured designation under Ontario's One Project One Process (1P1P). The company is targeting construction start in 2028 and initial production in 2030. The pre-feasibility study (PFS) metrics indicate a base-case payback period of 2.7 years, cumulative free cash flow of C$896 million over the first six years of production based on a US$3,100/oz gold price, and initial development capital of C$450 million. Resource estimates include a 4.3 million ounce indicated mineral resource (181.3Mt at 0.74 g/t Au) and a 1 million ounce probable mineral reserve (25.1Mt at 1.29 g/t Au).

In administrative actions, the company granted stock options to Daniel Janusauskas for 125,000 common shares at an exercise price equal to the 5-day VWAP on November 11, 2026, expiring November 11, 2031.

"With C$15.6 million in cash at quarter end, an additional C$10 million received from Macquarie subsequent to quarter end as part of its strategic placement, and Fenn-Gib's designation under Ontario's One Project One Process (1P1P), we are well funded and well positioned heading into 2027. Macquarie's investment came alongside a non-binding term sheet for up to C$300 million in project financing, with C$25 million available for early drawdown once binding. Our experienced team continues to execute on the catalysts that create shareholder value as we advance Fenn-Gib towards a construction decision," said Kevin Annett, CFO.

Read the original news release →

More from Mayfair Gold Corp.

Nov 02, 2026 · 06:31

Ontario's 1P1P streamlining cuts permitting timelines by half, targeting a 2028 start for Mayfair's projects.

Regulatory Oct 14, 2026 · 16:31

Mayfair closes a C$10 million equity financing at C$3.34 per share, leaving the buyer approximately 22% underwater on the transaction.

Financings Oct 01, 2026 · 06:00

Mayfair secures a C$310 million financing package from Macquarie, which also takes a first-time equity stake in the company.

Financings Sep 08, 2026 · 06:30

Mayfair confirms site layouts and advances exploration toward its 2030 production target.

Drill Results Aug 12, 2026 · 17:00

Mayfair’s Q2 update recycles the Fenn-Gib PFS without providing new financials or clarifying funding plans for the project.

Earnings Jul 23, 2026 · 06:50

Mayfair’s Fenn-Gib project confirms its reserve model through grade-control validation, advancing the bulk-tonnage open-pit development toward its 2028 construction target.

Production / Operations