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M&A / Property

Spanish Mountain signs MOU with Metso Canada

By The Northwire Desk — AI Analysis Feb 27, 2026 · 16:17 SPA · 0.25 Spanish Mountain Gold Ltd.
SPA · Price

Executive Summary

  • Spanish Mountain Gold Ltd. has signed a Memorandum of Understanding (MoU) with Metso Canada Inc. to collaborate on the proposed process plant and tailings dewatering facilities for its Spanish Mountain gold project.
  • The collaboration includes trade-off studies, equipment selection support, and potential supply of process solutions, marking a key milestone in advancing the project toward feasibility and a final build decision.
  • If SMG selects Metso's equipment solutions during the feasibility phase, the company targets up to $50 million in potential original equipment manufacturer (OEM) financing, potentially backed by a state export credit agency.

Key Details

  • Parties Involved: Spanish Mountain Gold Ltd. (SMG) and Metso Canada Inc.
  • Agreement Type: Memorandum of Understanding (MoU); subject to execution of definitive agreements.
  • Scope of Collaboration:
    • Collaboration and support for the proposed process plant.
    • Support for tailings dewatering facilities.
    • Conducting trade-off studies.
    • Support in equipment selection and supply of process solutions.
    • Potential customary performance commitments for equipment solutions from Metso.
  • Financial Implications:
    • Potential target of up to $50 million in OEM financing if Metso's equipment is selected.
    • Financing could be backed by a state export credit agency.
    • Financing is subject to lender approvals and execution of definitive agreements.
  • Project Context:
    • Project Location: Cariboo district corridor, British Columbia, Canada.
    • Current Status: Advancing toward feasibility and permitting.
    • Future Milestone: Targeting a construction decision in 2027.
    • Recent Technical Update: On Aug. 18, 2025, SMG filed a National Instrument 43-101 technical report on SEDAR+ containing a derisked and optimized preliminary economic assessment with an updated mineral resource estimate.

Notable Quotes

  • Peter Mah, President and CEO: "Spanish Mountain Gold moves ahead with the signing of an MoU with Metso Canada Inc. regarding the collaboration and support for the proposed process plant and tailings dewatering facilities... This marks a key milestone for the company as it prepares for the next stages of development."
Read the original news release →

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