Mining Press Roundup: Nevada Gold Junior Sees $905M Value Jump as Majors Back Exploration

Getchell Gold (CSE: GTCH; OTCQB: GGLDF) announced a revised preliminary economic assessment for its Fondaway Canyon gold project in Nevada showing a $1 billion pre-tax NPV and $905 million after-tax NPV at an 8% discount rate, representing a 67% increase from the previous study. The updated economics come as gold trades at $4,010 per ounce according to market data, providing a favorable backdrop for development-stage projects in Nevada's prolific mining districts.

Getchell Gold: Fondaway Canyon Economics Jump 67%

The PEA outlines an open pit mining operation with a conventional 12,000 tonne per day milling operation and an initial mine life of approximately 10 years.

At $3,400 per ounce gold, the study shows a 58.8% pre-tax internal rate of return and 53.1% after-tax IRR.

According to the company, the PEA "readily demonstrates the potential for a robust economic open pit mining operation producing 150,000 ounces of gold per year."

The updated resource estimate released in April 2026 showed a 54% increase in indicated mineral resources to 22.1 million tonnes at 1.40 g/t gold for 999,000 ounces, plus an 8% increase in inferred resources to 45.6 million tonnes at 1.25 g/t gold.

Getchell Gold is a Nevada-focused gold exploration company trading on the CSE, OTCQB, and Frankfurt exchanges, primarily directing its efforts on Fondaway Canyon, a past gold producer with a large mineral resource estimate and recently published preliminary economic assessment.

Barrick Mining: $21M Investment in BC's Kingfisher Metals

Barrick Mining Corporation (TSX: ABX; NYSE: B) has agreed to purchase 15,470,934 units of Kingfisher Metals Corp. (TSXV: KFR) in a non-brokered private placement at C$1.35 per unit for gross proceeds of C$20,885,761.

The placement will result in Barrick owning approximately 9.9% of Kingfisher's issued and outstanding shares on a non-diluted basis and 14.1% on a partially diluted basis assuming exercise of all warrants.

The company has agreed to use at least 80% of the proceeds for exploration and development of the HWY 37 project located in British Columbia's Golden Triangle.

Kingfisher's HWY-37 and Forrest Kerr projects comprise approximately 933 km² and 202 km² respectively, with the 2026 exploration program designed to advance the newly discovered Hank porphyry Cu-Au system.

Drillhole HW-25-011 confirmed discovery of a new copper-gold porphyry system below the Hank epithermal gold-silver mineralized system, with assays returning 425.0 meters of 0.40% CuEq (0.15% Cu, 0.21 g/t Au and 2.2 g/t Ag). The investment gives Barrick exposure to British Columbia's Golden Triangle at a time when copper miners are trading strongly, with the COPX copper miners ETF up 5.1% according to market data.

Cadillac Mines: Pierre Lassonde's $363M IPO Play

Cadillac Mines, chaired by Canadian Mining Hall of Famer Pierre Lassonde, aims to raise up to $363 million (US$258 million) in an initial public offering that counts Agnico Eagle Mines (TSX, NYSE: AEM) as a backer and could help resurrect the past-producing Kerr-Addison gold mine in Ontario.

The Toronto-based explorer, formerly known as Gold Candle, expects to raise about $190 million in gross proceeds while existing shareholders seek to sell about $173 million of stock, with shares expected to trade on the TSX under the symbol CADY.

Kerr-Addison on the Abitibi gold belt in northeastern Ontario produced more than 11 million oz. of gold from 35.5 million tonnes grading 9.1 grams gold per tonne from 1938 to 1996 as one of Canada's largest and highest-grade mines.

The Cadillac offering comprises 50.2 million shares, including common shares priced at $6.90 and special flow-through shares at $9.52, with an over-allotment option for another 7.5 million common shares that could increase total proceeds to about $415 million if exercised in full.

Agnico Eagle agreed to buy 8.7 million shares for about $60 million in a concurrent private placement, expanding its investment in Cadillac.

Andrew Forrest: $133M Bet on Tungsten Supply

Mining billionaire Andrew Forrest agreed to acquire a 16.8% stake in EQ Resources Ltd. (ASX: EQR), a Sydney-listed tungsten producer, from Oaktree Capital Management, with the stock climbing 34% on the news.

The deal covers about 862.1 million shares and 35.6 million options, with the stake worth A$190 million ($133 million) based on Friday's close.

EQ Resources operates the Mt Carbine Tungsten Mine in North Queensland and the Barruecopardo Tungsten Mine in Spain, giving the company a significant position in the Western tungsten market.

According to Forrest, "This investment backs an Australian producer, Australian jobs and Australian know-how at the moment the world has woken up to how fragile critical mineral supply chains have become."

EQ Resources managing director Craig Bradshaw recently told Australian Mining, "You've got the rest of the world desperately short of material. People are even asking for quotes to put it on planes and fly it around the world because they're so short of tungsten." The investment comes as critical minerals gain strategic importance amid supply chain concerns and China's dominance in tungsten production.

New Pacific Metals: Bolivia Project Value Hits $2.65B

New Pacific Metals (TSX: NUAG; NYSE-A: NEWP) strengthened the economics of its Carangas silver-gold project in Bolivia with an updated preliminary economic assessment that lifts the after-tax net present value to $2.65 billion (C$3.71 billion) and outlines average annual silver-equivalent production of nearly 18 million oz. over a 19-year mine life.

At base case prices of $45/oz silver, $3,400/oz gold, $1.20/lb zinc and $0.90/lb lead, the study outlines a post-tax NPV (5%) of $2.65 billion, a post-tax IRR of 35.9%, total revenue of $15.25 billion, and a 2.4-year post-tax payback on initial capex.

The 19-year life of mine (plus two pre-production years) is projected to produce 195.1 million oz payable silver, 1.1 million oz payable gold, 1,453 million lbs zinc and 941 million lbs lead, or 339.0 million oz silver equivalent.

The updated PEA issued Thursday incorporates a higher processing rate and the addition of a gold zone that was absent from the 2024 study. Silver traded at $56.34 per ounce according to market data, well above the study's base case assumption, potentially improving project economics further.

Eldorado Gold: First Ore Through Skouries Crusher

Eldorado Gold (TSX: ELD; NYSE: EGO) achieved first ore crushed at its Skouries copper-gold project in northern Greece, with commissioning advancing and the company expecting to introduce ore to the grinding and flotation circuits as those systems are progressively commissioned, building toward first copper-gold concentrate production in the third quarter of 2026.

The company has established an ore stockpile of approximately 3.9 million tonnes, with approximately 3.4 million tonnes from the open-pit, providing ample feed to support a controlled and steady ramp-up of the processing plant through commissioning and into commercial production, with this stockpile expected to provide the ore feed required through 2026.

According to CEO George Burns, "Crushing first ore is an important milestone for Skouries and reflects the steady, safe progress being made by our team as the project moves through the final stages of construction and staged commissioning."

Commercial production is scheduled for the fourth quarter of 2026. The milestone comes as copper demand remains strong for electrification and energy transition projects globally.

Sprott: Uranium Stocks Trail Despite Strong Fundamentals

Sprott Asset Management noted that uranium stocks have been up on average around 40% for the year, even though the commodity price has been rather muted, with the commodity price held back due to a lack of contracting by utilities and a lack of buying in the spot market.

According to Sprott, uranium mining stocks have fared better and are being driven by a greater number of investors examining the fundamentals for the future and evaluating the industry's prospects, given the structural supply deficit, with uranium stocks up on average around 40% for the year even though the commodity price has been rather muted.

The uranium ETF (URA) traded up 3.4% according to market data, reflecting renewed investor interest in the sector. Sprott's John Ciampaglia noted that tightening supply, rising reactor demand, and growing institutional involvement are fueling bullish expectations for uranium and related mining equities in 2026.

What It Means

Today's announcements reveal capital flowing decisively into North American gold and copper exploration, with major producers like Barrick willing to back junior explorers in proven districts. The Getchell Gold PEA demonstrates that Nevada's gold potential remains robust at current prices, while Barrick's Kingfisher investment signals confidence in British Columbia's Golden Triangle copper-gold systems.

The Cadillac Mines IPO—backed by Pierre Lassonde and Agnico Eagle—suggests institutional appetite for high-grade gold projects in stable jurisdictions remains strong. Meanwhile, Andrew Forrest's tungsten bet and New Pacific's Bolivia silver project highlight how critical minerals and precious metals are attracting diverse capital sources. Eldorado's Skouries milestone marks another major copper-gold project moving toward production, adding to the pipeline of new supply needed to meet electrification demand. The disconnect between uranium stock performance and spot prices, as noted by Sprott, suggests investors are positioning ahead of an anticipated supply crunch—a pattern that could extend to other critical minerals as energy transition demand accelerates.

This roundup covers press releases published on July 21, 2026. Company announcements are sourced from mining industry wire services. For corrections or updates, contact contact@stakeandpaper.com.