Northwire Canada EditionFriday, July 10, 2026
Sign inSubscribe
Northwire
⌕
S 0.165 +37.5% NNX 0.035 +0.0% ABX 52.05 −0.3% TTS 2.40 −4.0% FCI 0.400 −9.1% GR 0.075 +0.0% AII 23.32 +12.1% TUNG 1.73 +2.4% LGO 1.00 −3.4% EMM 0.080 +0.0% OGN 3.45 +2.1% MSA 6.50 +1.1% SGZ 0.040 −11.1% GRSL 0.307 −3.9% DEX 0.380 −1.3% WMS 0.040 +0.0% S 0.165 +37.5% NNX 0.035 +0.0% ABX 52.05 −0.3% TTS 2.40 −4.0% FCI 0.400 −9.1% GR 0.075 +0.0% AII 23.32 +12.1% TUNG 1.73 +2.4% LGO 1.00 −3.4% EMM 0.080 +0.0% OGN 3.45 +2.1% MSA 6.50 +1.1% SGZ 0.040 −11.1% GRSL 0.307 −3.9% DEX 0.380 −1.3% WMS 0.040 +0.0%
Financings Routine +

1911 Gold increases bought deal to $31-million

1911 Gold upsizes its bought deal to $31 million to fund the True North restart, though dilution and offtake constraints remain a concern.

By The Northwire Desk — AI Analysis Jun 17, 2026 · 18:38 AUMB · 0.66 1911 Gold Corporation
Executive Summary
  • 1911 Gold Corp. has amended its previously announced $20 million bought deal to increase gross proceeds to $31 million.
  • The offering consists of multiple tranches: regular units at $0.64, CDE flow-through units at $0.793, and three tranches of CEE flow-through units priced between $0.752 and $1.011.
  • Each unit includes one common share and one-half of a warrant exercisable at $1.00 per share for 24 months.
  • Net proceeds are earmarked for continuing exploration and development at the True North gold project, technical studies, and general working capital.
  • The transaction is led by Haywood Securities Inc. with a 15% over-allotment option and is scheduled to close on or about July 14, 2026, pending regulatory approvals.
Material Impact
  • The upsizing is a direct follow-up to the June 16, 2026 announcement and aligns with management's stated need for additional capital to fund the 2027 production restart.
  • The pricing structure shows a bifurcated market: the $0.64 regular tranche trades at a slight discount to the recent $0.66 close, while the $1.011 CEE tranche indicates strong institutional demand for tax-advantaged flow-through exposure.
  • The additional $11 million extends the company's cash runway, reducing near-term dilution risk but confirming the capital-intensive nature of the mine restart.
  • The transaction is expected, incremental, and does not alter the fundamental 2027 restart timeline or the PEA economics. It is classified as routine positive news.
AUMB · Price
Company Overview
  • 1911 Gold Corp. is an advanced-stage gold developer focused on restarting the 100%-owned True North Gold Project in Manitoba's Archean Rice Lake greenstone belt.
  • The project features fully permitted, existing infrastructure including shafts, underground workings, and a 1,300 t/d processing plant, with a replacement value exceeding US$400 million.
  • A March 2026 PEA outlines an 11-year mine life, steady-state production of ~58,114 oz Au/year, an after-tax NPV of C$391 million, and an IRR of 105% at US$3,000/oz gold.
  • The company is actively expanding resources through underground infill/delineation drilling at the L10 and Hinge zones, and surface drilling at the Ogama-Rockland satellite deposit.
  • Management targets test mining in H2 2026 and full commercial production in H1 2027.
Read the original news release →

More from 1911 Gold Corporation

Jul 02, 2026 · 21:01

1911 Gold Issues Clarification of February 2026 PEA Disclosure

Regulatory Jun 16, 2026 · 16:16

1911 Gold secured a $20m bought deal to fund the True North restart despite dilution and execution risks.

Financings May 26, 2026 · 07:02

Satellite Exploration Success Supports 2027 Restart Thesis Despite Financing Costs

Drill Results May 19, 2026 · 07:02

1911 Gold Commences Underground Development at True North, De-risking 2027 Restart Plan

Production / Operations May 12, 2026 · 07:02

True North Restart De-risked by Drill Extensions and Secured Credit Facility

Drill Results Apr 16, 2026 · 07:02

1911 Gold Infrastructure Access Confirms PEA Timeline but Execution Risks Remain

Production / Operations