Au Gold Secures Havelock Project and Raises $2 Million for Exploration

An announcement from Au Gold Corp ( (TSE:AUGC) ) is now available.

Au Gold Corp has completed the acquisition of a 100% interest in the 11,663-hectare Havelock Gold-Antimony Project from Leviathan Gold Australia, issuing cash and shares to secure full ownership through its Australian subsidiary. The transaction, treated as a fundamental acquisition under TSXV rules and supported by a NI 43-101 technical report, solidifies Havelock as the company’s flagship asset and sets the stage for an accelerated exploration program.

Concurrently, the company closed a non-brokered private placement raising $2 million via the sale of 13,333,333 units, each comprising one share and a half warrant exercisable at $0.30 over three years. The proceeds, earmarked primarily for exploration and general corporate purposes, enhance Au Gold’s funding capacity to advance its portfolio without incurring finder’s fees, potentially strengthening its competitive footing in the junior gold exploration sector.

More about Au Gold Corp

Au Gold Corp is a gold exploration company listed on the TSX Venture Exchange and focused on advancing early-stage projects. Its key assets include the Havelock gold-antimony project in Australia’s Victorian Gold Fields and the Ponderosa gold project in British Columbia’s Spences Bridge Gold Belt, positioning the firm within prolific historical mining districts.

Average Trading Volume: 179,370

Technical Sentiment Signal: Buy

Current Market Cap: C$9.95M

See more data about AUGC stock on TipRanks’ Stock Analysis page.