Gold X2 Announces Closing of First Tranche of Private Placement for Gross Proceeds of Approximately $43,160,000
Strategic Major Investment and Multi-Billion Dollar NPV Transform Speculative Explorer into Top-Tier Development Candidate
On February 19, 2026, Gold X2 Mining Inc. closed the first tranche of a non-brokered private placement, raising approximately $43.16 million. This financing consists of $22.61 million in units at $0.95 (including a half warrant at $1.42) and $20.55 million in "Charity Flow-Through" shares at $1.233. This follows the transformative January 27, 2026, announcement of strategic investments from AngloGold Ashanti and Hess Capital. Simultaneously, the company amended its agreement with Sky Gold Corp to set a floor price of $0.90 for share issuances related to the Star Lake claims, signaling a high degree of confidence in its new valuation floor.
The impact is "Material - Game Changer" for three primary reasons: - Major Mining Partner: The entry of AngloGold Ashanti as a strategic shareholder (announced late January) provides the ultimate "seal of approval." Majors rarely take positions in juniors unless the project has "Tier One" potential. This validates the Moss Gold Project's scale. - Economic Scale: The January 26, 2026, PEA outlined an after-tax NPV5% of $2.23 billion and a 13.2-year mine life. While the $2.0 billion initial capital cost is daunting, the project’s ability to produce 265,000 oz/year positions it as a significant future Canadian asset. - Robust Financing: Raising over $43 million in a single tranche (toward a larger ~$115M target) at prices significantly higher than 2025 levels (which averaged $0.30-$0.40) provides the "runway" needed to reach a Feasibility Study without immediate further dilution.
Gold X2 Mining (formerly Goldshore Resources) owns 100% of the Moss Gold Project in Northwest Ontario. - Flagship Project: Moss Gold Project. - Resource: 2.458M oz Indicated (@ 1.04 g/t Au) and 4.209M oz Inferred (@ 0.97 g/t Au). - Project Stage: Preliminary Economic Assessment (PEA) completed Jan 2026. - Infrastructure: Excellent. 12 km from Trans-Canada highway and high-voltage power. - Metallurgical Recovery: 92% for the Moss Deposit.