Central Nevada Gold plans to acquire additional precious metals assets in Nevada, CEO Simon Griffiths said. The privately held company recently bought the past-producing Mule Canyon mine from Newmont. This acquisition closed in late June for $20 million.
The company will advance Mule Canyon through prefeasibility and permitting in the second half of next year. It aims for a construction decision in 2028. An initial public offering (IPO) is also planned, possibly by the first half of 2027.
Mule Canyon produced about 500,000 ounces of gold between 1996 and 2000. Mining stopped due to low gold prices at the time, leaving significant potential unexploited. Major gold producers like Newmont are selling smaller mines, a trend Central Nevada Gold wants to capitalize on.
Central Nevada Gold expects to announce a new mineral resource estimate for Mule Canyon in the coming months. Historical data indicate an average head grade of 3.8 grams gold per tonne and metallurgical recoveries of roughly 94%. CEO Griffiths also stated interest in silver-rich properties across Nevada.
