Cabral Gold Announces Closing of $20 Million Bought Deal Financing
Cabral Gold secures final construction war chest as Cuiú Cuiú moves toward Q4 2026 production.
The most recent news (April 2, 2026) confirms the closing of a C$20 million bought-deal financing. The company issued 21,055,000 shares at C$0.95 per share. This follows a string of high-grade drill results, most notably 9.5m @ 87.4 g/t gold at the Jerimum Cima target (March 12, 2026), and the receipt of the Licença Prévia (LP) for the full mining license (March 10, 2026). The funds are earmarked for expanded exploration drilling and general working capital as the company advances its Phase 1 gold-in-oxide project toward a Q4 2026 production target.
The impact is Routine - Positive. While the dollar amount is significant, the financing was previously announced on March 25, 2026. The closing is a necessary and expected step to execute the expanded drill program triggered by the Jerimum Cima discovery. - Funding Certainty: This capital, combined with the previously secured US$45.1M gold loan, ensures the company is fully funded for both Phase 1 construction and an aggressive exploration campaign to grow the Phase 2 hard-rock resource. - Validation: A bought deal at C$0.95—a significant premium to the C$0.38 levels seen in early 2025—indicates strong institutional support following the recent "bonanza" drill grades. - Dilution: The issuance adds approximately 7.6% to the share count, which is manageable given the project's de-risking milestones (permitting and construction progress).
Cabral Gold is focused on the 100%-owned Cuiú Cuiú gold district in Pará State, Brazil. The project is being developed in two phases: - Phase 1: A low-capex (US$37.7M) gold-in-oxide heap leach operation targeting ~18.5 koz/year starting Q4 2026. - Phase 2: Expansion into the much larger primary hard-rock resource (currently ~900k oz Indicated/Inferred).