Northwire Canada EditionThursday, November 12, 2026
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Gold 4,000.50 −0.7% Silver 52.00 +1.5% Copper 6.27 +0.5% Oil 86.53 +0.6% Palladium 1,030.00 +0.9% TIG 0.800 +0.0% RVG 0.715 −4.0% FNV 354.26 −2.4% FDY 4.30 −0.5% MAU 16.05 −3.2% VOXR 6.78 −0.6% TLO 7.04 −1.0% NICU 1.95 −5.8% VTEN 0.440 +0.0% AWM 0.025 +0.0% OR 50.79 −1.8% AUXX 5.30 −5.5% TNR 0.420 +40.0% ORCL 0.030 +0.0% ELD 47.71 −5.4% OPW 0.140 −6.7% Gold 4,000.50 −0.7% Silver 52.00 +1.5% Copper 6.27 +0.5% Oil 86.53 +0.6% Palladium 1,030.00 +0.9% TIG 0.800 +0.0% RVG 0.715 −4.0% FNV 354.26 −2.4% FDY 4.30 −0.5% MAU 16.05 −3.2% VOXR 6.78 −0.6% TLO 7.04 −1.0% NICU 1.95 −5.8% VTEN 0.440 +0.0% AWM 0.025 +0.0% OR 50.79 −1.8% AUXX 5.30 −5.5% TNR 0.420 +40.0% ORCL 0.030 +0.0% ELD 47.71 −5.4% OPW 0.140 −6.7%
Financings

Conquest Resources Closes Non-Brokered Private Placement Financing

Financing secures short-term exploration runway as company pivots toward Finnish gold assets.

By The Northwire Desk — AI Analysis Feb 03, 2026 · 17:01 CQR · 0.07 Conquest Resources Limited
Executive Summary

On February 3, 2026, Conquest Resources Limited (CQR) closed the first tranche of its non-brokered private placement, raising gross proceeds of $450,000. This was achieved through the issuance of 6,000,000 flow-through shares at a price of $0.075 per share. The proceeds are strictly earmarked for "eligible Canadian exploration expenses" specifically for the Belfast-Teck Mag Project in Ontario. This follows an amendment on January 20, 2026, which added a second "hard-dollar" tranche of $300,000 at $0.05 per share (not yet closed) intended for working capital.

Material Impact

The impact is Routine - Positive. While any capital injection is necessary for a junior explorer with declining cash reserves, this specific tranche only addresses flow-through requirements for Ontario. - Financial Solvency: As of September 30, 2025, the company had roughly $433k in cash. This $450k infusion effectively doubles their exploration budget but does not yet address the general working capital needs which the second ($300k) tranche is intended to cover. - Shareholder Dilution: The issuance of 6 million shares on a base of roughly 135 million represents approximately 4.4% dilution. - Strategic Alignment: The funding allows the company to maintain its commitments at the Belfast-Teck Mag Project, where AI-generated targets have previously shown "anomalous" but not yet "ore-grade" mineralization. - Misses: The company has yet to close the "Hard-Dollar" portion of the financing, which is more critical for general corporate survival and the newly announced Finland acquisition.

CQR · Price
Company Overview

Conquest Resources is a Canadian explorer historically focused on the Temagami Mining Camp in Ontario. - Flagship Project: Belfast-Teck Mag Project (Ontario). It targets Cu-Ni-PGE and VMS deposits. - Partnership: They have a strategic agreement with VerAI Discoveries to use AI for target generation. - Recent Diversification: In December 2025, the company signed an LOI to acquire 100% of Carrigel Ltd., which owns the Valimaki Gold Project in Finland, marking a significant strategic shift towards European gold.

Read the original news release →

More from Conquest Resources Limited

Nov 04, 2026 · 17:16

Conquest sold assets to Inventus to fund development of its Valimaki gold project in Finland.

M&A / Property Aug 28, 2026 · 12:01

Conquest divests its flagship Ontario asset to pivot toward Finnish drilling, focusing on exploration activities in Finland.

M&A / Property Aug 12, 2026 · 07:01

Conquest’s Smith Lake channel samples returned 15.31 g/t Au, advancing Ontario gold exploration.

Drill Results Jul 29, 2026 · 07:01

Conquest advances drill targeting at Finland’s Valimaki project after till sampling confirmed gold anomalies.

Drill Results May 19, 2026 · 07:02

Conquest Resources Validates Valimaki Acquisition Thesis with Structural Targets; Dilution Risks Loom

Drill Results Mar 10, 2026 · 17:33

Conquest begins 2026 exploration at Valimaki

Drill Results