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Gold 3,898.90 −3.3% Silver 49.28 −5.9% Copper 6.48 −1.8% Oil 104.12 +2.1% Palladium 987.70 −1.7% HCH 1.25 −3.9% CRD 0.040 −20.0% ENEV 0.005 +0.0% MOON 5.23 −7.9% ORE 2.56 −4.8% ASE 0.620 −14.5% LKY 0.005 + SOI 0.165 −5.7% ECR 0.190 −5.0% OZ 0.240 −9.4% ELEC 0.110 +4.8% WHY 0.260 −3.7% PHD 0.030 −33.3% OMI 0.220 −10.2% EML 0.105 +0.0% TECT 1.37 −2.8% Gold 3,898.90 −3.3% Silver 49.28 −5.9% Copper 6.48 −1.8% Oil 104.12 +2.1% Palladium 987.70 −1.7% HCH 1.25 −3.9% CRD 0.040 −20.0% ENEV 0.005 +0.0% MOON 5.23 −7.9% ORE 2.56 −4.8% ASE 0.620 −14.5% LKY 0.005 + SOI 0.165 −5.7% ECR 0.190 −5.0% OZ 0.240 −9.4% ELEC 0.110 +4.8% WHY 0.260 −3.7% PHD 0.030 −33.3% OMI 0.220 −10.2% EML 0.105 +0.0% TECT 1.37 −2.8%
Financings Routine +

Element79 Gold Announces Non-Brokered Private Placement of up to C$1,000,000

Cash-strapped junior secures survival financing and divests distressed Peruvian asset to pivot to Nevada exploration.

By The Northwire Desk — AI Analysis Jun 12, 2026 · 12:00 ELEM · 0.025 Element79 Gold Corp.
Executive Summary
  • Element79 Gold Corp. announced a non-brokered private placement of up to 55,555,556 units at C$0.018 per unit, targeting up to C$1,000,000 in gross proceeds.
  • Each unit comprises one common share and one transferable warrant exercisable at C$0.05 for a 24-month term, featuring an acceleration provision if the share price reaches C$0.10 for ten consecutive trading days.
  • Net proceeds will be allocated to general working capital, ongoing exploration, and project advancement.
  • Concurrently, the company signed a binding MOU to sell 100% of its Lucero project in Peru for $2,000,000 USD, netting approximately $600,000 USD after settling obligations and maintaining concessions.
  • The divestiture eliminates financial and contractual liabilities from a project halted by force majeure since June 2025, allowing management to refocus capital and attention on the Nevada-based Gold Mountain and Elephant projects.
Material Impact
  • The private placement directly addresses the company's severe liquidity crunch, providing a critical cash infusion to mitigate the explicitly stated going concern risk.
  • The Lucero divestiture removes a dormant, liability-generating asset and generates immediate net cash, streamlining the corporate structure and reducing ongoing overhead.
  • The transaction is dilutive, adding ~27% to the current share count, but is a standard survival mechanism for exploration-stage juniors with depleted cash reserves.
  • The warrant structure and low exercise price indicate a need to sweeten the deal for investors in a risk-off environment, but the acceleration provision offers upside potential for shareholders if the stock recovers.
ELEM · Price
Company Overview
  • Element79 Gold Corp. is an exploration-stage mining company focused on gold and silver projects in Nevada, Canada, and Peru.
  • The company's primary operational focus has shifted to the Battle Mountain District in Nevada, specifically the Gold Mountain and Elephant projects, which host skarn and porphyry gold-copper potential.
  • The Lucero project in Peru has been divested following prolonged force majeure conditions.
  • The Dale gold project in Timmins, Ontario, is in the process of being spun out to Synergy Metals Corp. via a plan of arrangement.
  • The company is in the pre-revenue exploration phase, relying entirely on equity financing and asset sales to fund operations.
Read the original news release →

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