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• Centerra Gold acquires a 9.9% strategic stake in NKG as part of a C$16M non-brokered private placement priced at C$0.21/share.
• The investment follows a lengthy due diligence process and marks a strong endorsement of the Atlanta Project’s quality and potential.
• Key insiders are maintaining their pro-rata ownership for ~C$6M.
• The bolstered treasury funds continued exploration across Atlanta’s high-priority targets, with Phase 4 drilling ongoing.
This morning, Nevada King Gold Corp. (NKG:TSXV, NKGFF:OTC) announced a non-brokered private placement for gross proceeds of ~C$16M. Centerra Gold will acquire 9.9% of shares for ~C$10M as part of the financing, while NKG’s Chairman, Collin Kettell, and its largest shareholder, Michael Parker, intend to maintain their pro-rata ownership for ~C$6M. The financing bolsters the Company’s treasury as extensive exploration continues at the Atlanta Project, while adding a reputable strategic investor with experience in Nevada. We are maintaining our BUY rating and target price of C$0.40/share on Nevada King Gold.
The private placement is fully subscribed, with Centerra acquiring its 9.9% at a price of C$0.21/share, which matches the 20-day VWAP. Centerra taking a significant stake in the project marks a strong endorsement for the quality and potential of Atlanta, which included a lengthy due diligence process, and we are further encouraged that key insiders remain aligned and will be maintaining their ownership stakes in the Company. The financing is expected to close in Q2.
For context, Centerra is an intermediate gold producer with a market cap of ~C$4.5B and operates two producing mines (Mount Milligan in BC and Öksüt in Turkey). The Company is also advancing the Goldfield District Project in Nevada. After completing a technical study in August 2025, the Company green-lit the project, which carries an after-tax NPV of $245M and a 30% IRR at a conservative long-term gold price of $2,500/oz. First production is expected by the end of 2028.
NKG: Strategic Investment by Centerra & Bolstered Balance Sheet
What you need to know:• Centerra Gold acquires a 9.9% strategic stake in NKG as part of a C$16M non-brokered private placement priced at C$0.21/share.
• The investment follows a lengthy due diligence process and marks a strong endorsement of the Atlanta Project’s quality and potential.
• Key insiders are maintaining their pro-rata ownership for ~C$6M.
• The bolstered treasury funds continued exploration across Atlanta’s high-priority targets, with Phase 4 drilling ongoing.
This morning, Nevada King Gold Corp. (NKG:TSXV, NKGFF:OTC) announced a non-brokered private placement for gross proceeds of ~C$16M. Centerra Gold will acquire 9.9% of shares for ~C$10M as part of the financing, while NKG’s Chairman, Collin Kettell, and its largest shareholder, Michael Parker, intend to maintain their pro-rata ownership for ~C$6M. The financing bolsters the Company’s treasury as extensive exploration continues at the Atlanta Project, while adding a reputable strategic investor with experience in Nevada. We are maintaining our BUY rating and target price of C$0.40/share on Nevada King Gold.
The private placement is fully subscribed, with Centerra acquiring its 9.9% at a price of C$0.21/share, which matches the 20-day VWAP. Centerra taking a significant stake in the project marks a strong endorsement for the quality and potential of Atlanta, which included a lengthy due diligence process, and we are further encouraged that key insiders remain aligned and will be maintaining their ownership stakes in the Company. The financing is expected to close in Q2.
For context, Centerra is an intermediate gold producer with a market cap of ~C$4.5B and operates two producing mines (Mount Milligan in BC and Öksüt in Turkey). The Company is also advancing the Goldfield District Project in Nevada. After completing a technical study in August 2025, the Company green-lit the project, which carries an after-tax NPV of $245M and a 30% IRR at a conservative long-term gold price of $2,500/oz. First production is expected by the end of 2028.
Underlying
Nevada King Gold Corp.
Provider
Atrium Research Corporation
Atrium Research provides institutional quality issuer paid research on North American public equities using deep fundamental analysis. Our research reports are disseminated through Bloomberg, FactSet, Capital IQ, Reuters and many more, as well as through our social media and email distribution lists.
Ben Pirie
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