1911 Gold Restores Level 26 Access as True North Mine Restart Advances

1911 Gold ( (TSE:AUMB) ) has shared an update.

1911 Gold has re-established access to Level 26 at its True North mine after dewatering reached about four metres below the level, enabling rehabilitation work to begin and paving the way for completion of dewatering to the shaft bottom by the end of May. This access restores the primary loading pocket and hoisting infrastructure needed to support upcoming test mining and bulk sampling on Level 16 and underpins logistical planning for a staged restart of operations.

Re-entry to Level 26 also opens up the high-grade 710-711 zone and the D Shaft, providing critical platforms for underground drilling to expand mineral resources and extend projected mine life at True North. Alongside underground work, the company is refurbishing and optimizing the mill, upgrading camp capacity, and acquiring mobile mining equipment, keeping it aligned with a mid-2026 mill restart and a full operational restart targeted for 2027, which is important for advancing the project toward near-term production and potential resource growth.

The most recent analyst rating on (TSE:AUMB) stock is a Buy with a C$2.00 price target. To see the full list of analyst forecasts on 1911 Gold stock, see the TSE:AUMB Stock Forecast page.

Spark’s Take on AUMB Stock

According to Spark, TipRanks’ AI Analyst, AUMB is a Neutral.

The score is held back primarily by weak financial performance—persistent and worsening losses, absent recent revenue, and accelerating cash burn—despite a low-debt balance sheet. Technicals provide partial support with the price above key moving averages and a positive MACD, while valuation remains constrained by negative earnings and no indicated dividend yield.

To see Spark’s full report on AUMB stock, click here.

More about 1911 Gold

1911 Gold Corporation is an advanced gold exploration and development company focused on its 100%-owned True North Gold Project in the Archean Rice Lake Greenstone Belt in Manitoba, Canada. The company controls a ~62,000-hectare land package hosting numerous past-producing gold operations within trucking distance of its fully built and permitted True North mine and mill complex, and aims to restart production in 2027 through a district-scale, environmentally responsible mining operation.

Average Trading Volume: 1,636,628

Technical Sentiment Signal: Buy

Current Market Cap: C$300.8M

For an in-depth examination of AUMB stock, go to TipRanks’ Overview page.