Northwire Canada EditionWednesday, August 26, 2026
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GOLD 4694.50 −0.1% SILVER 68.68 +0.1% COPPER 6.71 +1.6% OIL 82.36 −3.1% PALLADIUM 1336.50 −2.0% ODV 4.39 +1.6% PGLD 1.17 +0.9% FDY 5.92 −1.0% FMAN 0.385 −4.9% BGAU 1.82 +5.8% LTH 0.655 +5.7% NVX 0.580 −3.3% MNRG 0.095 +0.0% AG 29.35 +1.6% CTV 0.140 +16.7% OTMC 0.600 +34.8% OPW 0.130 +4.0% HI 0.165 +10.0% VCU 1.33 +1.5% DLTA 0.175 −5.4% EMO 0.400 −1.2% GOLD 4694.50 −0.1% SILVER 68.68 +0.1% COPPER 6.71 +1.6% OIL 82.36 −3.1% PALLADIUM 1336.50 −2.0% ODV 4.39 +1.6% PGLD 1.17 +0.9% FDY 5.92 −1.0% FMAN 0.385 −4.9% BGAU 1.82 +5.8% LTH 0.655 +5.7% NVX 0.580 −3.3% MNRG 0.095 +0.0% AG 29.35 +1.6% CTV 0.140 +16.7% OTMC 0.600 +34.8% OPW 0.130 +4.0% HI 0.165 +10.0% VCU 1.33 +1.5% DLTA 0.175 −5.4% EMO 0.400 −1.2%
Financings

Viva Gold Announces CDN$3.0 Million Private Placement to Fund Drilling of the New Midway Hills Gold Discovery and to Advance Permitting at Tonopah

Viva Gold raises $3M to fund Midway Hills drilling and Tonopah permitting amid ongoing cash constraints.

By The Northwire Desk — AI Analysis Aug 26, 2026 · 07:00 VAU · 0.18 Viva Gold Corp.
Executive Summary
  • Viva Gold Corp. announced a non-brokered private placement of up to 18,750,000 units at CDN$0.16 per unit, raising gross proceeds of up to CDN$3,000,000.
  • Each unit consists of one common share and one-half of a non-transferable common share purchase warrant.
  • Warrants are exercisable at CDN$0.24 per share for a period of 36 months from issuance.
  • Dundee Corporation, holding approximately 19.9% of outstanding shares, intends to participate on a pro rata basis to maintain its ownership position.
  • Proceeds will primarily fund follow-up drilling at the newly discovered Midway Hills gold zone and advance the Tonopah Gold Project into the mine permitting process, including engineering and environmental baseline studies.
  • The offering is subject to TSX Venture Exchange approval and carries a statutory hold period of four months and one day.
Material Impact
  • The financing is a routine, expected capital raise necessary to fund ongoing exploration and technical studies.
  • Dundee Corporation's pro rata participation is a positive signal of institutional confidence and helps mitigate immediate dilution concerns for existing shareholders.
  • The $0.16 unit price represents a slight discount to the recent trading range ($0.17-$0.19), which is standard for private placements but adds marginal near-term selling pressure.
  • The capital injection extends the company's runway but does not eliminate the going concern risk, as management previously disclosed that current liquidity is insufficient to fund operations and development over the next twelve months.
  • The news is incremental and aligns with the company's stated 2026 work plan to advance the Pre-Feasibility Study (PFS) and initiate the NEPA permitting process. It does not represent a fundamental shift in project economics or a material de-risking event on its own.
VAU · Price
Company Overview
  • Viva Gold Corp. is a pre-revenue exploration and development company focused on the 100%-owned Tonopah Gold Project in western Nevada.
  • The project is located on the prolific Walker Lane Structural Trend, approximately 30 minutes south of Kinross Gold's Round Mountain mine.
  • The flagship project features a defined high-confidence gold mineral resource with 86% classified as Measured and Indicated.
  • A 2025 Preliminary Economic Assessment (PEA) demonstrated potential for an economically viable open-pit, heap leach/mill project with an after-tax IRR of 17.6% at $2,400/oz gold.
  • The company recently announced a high-grade gold discovery at Midway Hills, located ~1.4 km northwest of the main pit, which remains open in all directions.
  • The project carries a 2% NSR on 184 claims, with a 1% buy-down option for $1.0M.
Read the original news release →

More from Viva Gold Corp.

Aug 19, 2026 · 07:00

Viva outlines the PFS timeline, permitting progress, and Midway Hills upside during a dedicated webinar presentation.

Other Aug 17, 2026 · 07:00

Viva’s Tonopah Project Feasibility Study targets Q4 completion to advance Nevada permitting for the deposit.

Production / Operations Jul 08, 2026 · 07:01

Viva’s Midway Hills step-out intercept confirms and enhances the discovery while capital headroom remains razor-thin.

Drill Results Jul 02, 2026 · 07:00

Viva Gold reports high-grade intersections at the Midway Hills project, though the company faces a going-concern balance sheet.

Drill Results Jun 23, 2026 · 07:00

Viva Gold Continues to Expand Gold Mineralization at the Tonopah Gold Project in Nevada

Drill Results Jun 03, 2026 · 07:01

Viva drilled high-grade shallow zones at Tonopah, advancing the pre-feasibility study toward a q4 2026 completion.

Drill Results