Lode Gold arranges $7-million private placement
Lode Gold secures $7 million to fast-track the Fremont pre-feasibility study and associated drilling program.
Lode Gold Resources Inc. announced a non-brokered private placement of up to $7 million. The offering consists of 25,925,926 units priced at $0.27 per unit. Each unit includes one common share and one common share purchase warrant. The warrants carry a $0.45 exercise price, a three-year term, and an acceleration clause if shares trade at $0.80 or greater for 10 consecutive days.
Lead investor Coast Capital LLC is participating to increase its stake to approximately 19.9% post-closing. Proceeds will fund technical work at the Fremont gold mine, including drilling for a preliminary feasibility study (PFS), strengthening the balance sheet, and general working capital.
Lode Gold Resources Inc. (LOD) announced a financing that serves as a direct follow-up to its July 13 announcement, aligning with the company’s stated 2026 roadmap to advance the Fremont project toward a Preliminary Feasibility Study (PFS). The $0.27 unit price represents a modest discount to the recent trading range of $0.29–$0.33, a standard practice for private placements that introduces near-term dilution. Insider participation by Coast Capital signals confidence in the project's technical progression and provides a floor for the offering. The capital raise directly addresses the company's need to fund the planned 3,500-meter surface drill program and metallurgical and geotechnical studies outlined in prior releases. The news is expected and incremental, fitting the routine progression of a junior explorer funding its technical milestones.
Lode Gold Resources Inc. (LOD) is a junior exploration and development company focused on the Fremont Gold Mine in Mariposa County, California. The project is a brownfield, previously producing mine suspended in 1942, now transitioning to a 100% underground bulk mining strategy. The flagship asset sits on 3,351 acres of 100% privately owned patented land in an Opportunity Zone. Historical production averaged 10.7 g/t Au; only ~8% of the modern resource has been mined. The company recently completed a reverse takeover/spin-out of its exploration subsidiary, Gold Orogen Resources (OROG), in February 2026, allowing Lode Gold to focus exclusively on the advanced-stage Fremont project.