Q-Gold Resources
Q-Gold Resources is a pre-revenue Canadian gold exploration and development company advancing a dual-asset platform: the advanced-stage Quartz Mountain Gold Project in Oregon (2.01Moz Au indicated) and the high-grade Mine Centre exploration project in Ontario.
- Company typePublic
- Founded1998
- HeadquartersFlagstaff, United States
- Headcount1–10
- GTM typeB2B
- OfferingHardware or Manufacturing
What Q-Gold Resources does
Q-Gold Resources Ltd. is a Canadian gold exploration and development company that operates a dual-asset platform focused on advancing two gold projects in Tier-One North American jurisdictions: the Quartz Mountain Gold Project in Lake County, Oregon (acquired from Alamos Gold in Q4 2025), and the Mine Centre Gold Project in northwestern Ontario, Canada. The company is pre-revenue and currently focused on advancing its flagship Quartz Mountain asset toward a feasibility study and eventual production, alongside active exploration at Mine Centre.
The Quartz Mountain Gold Project is an advanced-stage open-pit, heap-leach gold development project with a NI 43-101 compliant resource estimate of approximately 2.01 million oz Au indicated and 494K oz Au inferred. The April 2026 Preliminary Economic Assessment (PEA) outlines a 14-year mine life producing an average of 135,400 oz/year (peak 166,300 oz/year) at a cash cost of US$1,010/oz and an all-in sustaining cost (AISC) of US$1,216/oz, with an after-tax NPV(5%) of US$1.71 billion and an IRR of 55.2% at a conservative US$3,265/oz base-case gold price (rising to US$3.20 billion NPV and 92% IRR at current spot prices of approximately US$4,800/oz). Initial capital is estimated at US$290 million (including a US$48M contingency) with a 1.8-year after-tax payback. Processing uses a conventional two-stage metallurgical flow: open-pit mining with heap leach and cyanide processing for oxide ore, followed by crushing, milling, and flotation for sulfide ore producing gold-bearing concentrate, at a low 0.65:1 waste-to-ore strip ratio.
Q-Gold's business model centers on mineral exploration, project development, and eventual gold production sold at spot market prices to refiners and smelters. Operations are currently funded through equity financings, including flow-through share placements (a Canadian tax-incentivized structure for exploration expenditures), non-flow-through units, and warrant exercises. The company is publicly listed on the TSX Venture Exchange (QGR), OTCQB (QGLDF), and Börse Frankfurt (QX9G), with a market capitalization of approximately US$34M on 164.6M shares outstanding (fully diluted: 219.2M). Leadership combines mining engineering, capital markets, and exploration expertise, including former BMO Capital Markets Vice-Chair Jamsheed Mehta as President/Director and Alamos Gold's VP Exploration Scott R.G. Parsons on the board; Alamos Gold retains a 9% equity stake in Q-Gold following the Quartz Mountain transaction.
Q-Gold Resources firmographics
Firmographics- Name
- Q-Gold Resources
- Legal name
- Q-Gold Resources Ltd.
- Website
- https://qgoldresources.com
- Company type
- Public
- Founded year
- 1998
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Q-Gold Resources is a pre-revenue Canadian gold exploration and development company advancing a dual-asset platform: the advanced-stage Quartz Mountain Gold Project in Oregon (2.01Moz Au indicated) and the high-grade Mine Centre exploration project in Ontario.
- Ownership category
- akta.pro rank
Q-Gold Resources industry classification
Industry- Product category
- Gold Mining and Exploration
- NAICS
- Gold Ore and Silver Ore Mining (21222)
- SIC
- Gold And Silver Ores (1040)
- akta.pro primary industry
- Gold Mining (IMAKAEAA)
- akta.pro secondary industries
- Silver Mining (IMAKAEAB), Precious Metals Ore Processing & Beneficiation (IMAKAEAD)
Keywords
Where Q-Gold Resources is headquartered
LocationHeadquarters
- HQ city
- Flagstaff
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Q-Gold Resources business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Infrastructure, Operations, Personnel, Technology or R&D, Marketing or Sales, Supply Chain
Revenue model
- Gold Production and Sale (Doré and Concentrate): Once in production, Q-Gold will generate revenue from the sale of gold doré (from heap leach oxide processing) and gold-bearing concentrate (from sulfide flotation). The PEA projects average annual gold production of 135,400 oz/year over a 14-year mine life, with peak annual production of 166,300 oz. The company has conducted a concentrate market assessment to evaluate treatment charges, payable terms, and smelting/refining terms for the concentrate product.
- Equity Financing and Flow-Through Share Placements: Q-Gold Resources has raised capital through private placements of flow-through shares (Canadian tax-incentivized financing for exploration expenditures) and non-flow-through units. Recent financings include: $10 million financing (August 2025) for acquisition and advancement, $11.5 million total financing in 2025, $1,694,503 in December 2025 flow-through financing, and $1,000,000 flow-through financing (December 2021). Additionally, 29,213,345 warrants were exercised in April-May 2026 generating $5,842,669 in proceeds.
- Potential Shelf Prospectus Securities Issuance: Q-Gold filed a preliminary short form base shelf prospectus (June 2026) that would allow the company to potentially issue up to C$300 million in securities (common shares, preferred shares, debt securities, subscription receipts, warrants) over a 25-month period. No certainty any offerings will occur.
Go-to-market motion1 record
Distribution channels4 records
Marketing channels7 records
Q-Gold Resources product offering
Product offeringCore offering
Q-Gold Resources is a North American gold exploration and development company operating a dual-asset platform: the Quartz Mountain Gold Project (advanced-stage open-pit, heap-leach gold development asset in Lake County, Oregon, USA, with 2.01 Moz Au indicated and 494K oz Au inferred NI 43-101 resource) and the Mine Centre Gold Project (exploration asset in northwestern Ontario, Canada, with high-grade gold-silver vein systems). Once in production, the company will sell gold doré from Stage 1 oxide heap-leach processing and gold-bearing concentrate from Stage 2 sulfide flotation to refiners and smelters at LBMA spot prices, targeting average annual production of 135,400 oz over a 14-year mine life.
Product overview
Q-Gold Resources is a North American gold exploration and development company operating a dual-asset platform consisting of two primary projects: the Quartz Mountain Gold Project (advanced-stage development asset in Oregon, USA) and the Mine Centre Gold Project (exploration asset in Ontario, Canada). The company's flagship asset is the Quartz Mountain Gold Project, which has completed a positive Preliminary Economic Assessment (PEA) demonstrating strong economics for an open-pit heap-leach operation with 14-year mine life. The company also conducts active exploration programs including the Angel's Camp exploration program at Quartz Mountain and the summer 2026 exploration campaign at Mine Centre. Q-Gold does not offer software products; its offerings are focused on mineral exploration and development assets.
Differentiator
Problem solved
Functional benefit
Products and services
- Quartz Mountain Gold Project Advanced-stage open-pit, heap-leach gold development project located in Lake County, Oregon, USA. NI 43-101 resource of approximately 2.01 million oz gold in the Indicated Category and 494K oz in the Inferred Category, with a 14-year mine life projected in the April 2026 PEA. Designed as a two-stage operation: Stage 1 oxide heap leach producing doré; Stage 2 sulfide flotation producing concentrate. Maiden PEA: After-Tax NPV(5%) US$1.71B / IRR 55.2% base case (US$3,265/oz); AISC US$1,216/oz.
- Mine Centre Gold Project Advanced-stage exploration asset located in northwestern Ontario, Canada, 65 km from the U.S. border. Centered on the historic Foley and Mackenzie mines, the project hosts high-grade gold-silver quartz vein systems with over 15,000 metres of historical diamond drilling (2005-2012) confirming multiple veins, including intercepts up to 106.7 g/t Au and 36.7 g/t Au over 0.5m. The 2026 exploration campaign targets bulk-mining potential across 60+ surface-outcropping veins, only 5 of which have been drill-tested to date.
- Quartz Mountain Preliminary Economic Assessment (PEA) — NI 43-101 Technical Report NI 43-101-compliant Preliminary Economic Assessment for the Quartz Mountain Gold Project prepared by Kappes, Cassiday & Associates (KCA), with mine engineering and mining costs by AGP Mining Consultants Inc. and environmental/permitting considerations by SLR International Corporation. The PEA demonstrates US$1.71B after-tax NPV (5%) and 55.2% IRR at a base case gold price of US$3,265/oz, with a 14-year mine life, 1.9M oz LOM production, and AISC of US$1,216/oz.
Quantifiable outcome
- After-Tax NPV(5%) of US$1.71B and After-Tax IRR of 55.2% at a 24-month trailing average gold price of US$3,265/oz
- +5 more outcomes
Companies that use Q-Gold Resources
Customer profileSegments2 records
Ideal customer profiles2 records
Q-Gold Resources technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature5 records
Q-Gold Resources partnerships and signals
Strategic signalPartnerships
Eight partnerships are on record, tiered core and minor.
- United States Forest Service (USFS)coreThe U.S. Forest Service administers National Forest System land on which the Quartz Mountain Gold Project is located in Lake County, Oregon. Q-Gold submitted exploration authorization applications to the USFS for both Angel's Camp and Quartz Mountain target areas. The USFS approved the Angel's Camp exploration program in April 2026, authorizing geochemical soil sampling across approximately 2,660 acres. The USFS approval is a critical regulatory milestone for the project.
- SLR Consulting (Environmental and Permitting)coreQ-Gold engaged SLR Consulting to assist with environmental studies and permitting for the Quartz Mountain Gold Project in southern Oregon. This engagement marks a crucial step towards project development, with SLR leveraging its expertise in mine permitting and regulatory processes under the NEPA framework.
- Kappes, Cassiday & Associates (KCA)coreQ-Gold signed an agreement with Kappes, Cassiday & Associates to prepare the Preliminary Economic Assessment (PEA) for the Quartz Mountain Gold Project. KCA, based in Reno, Nevada, is a leading engineering firm with extensive gold project expertise. KCA was responsible for processing design, infrastructure, capital and operating cost estimation, and financial analysis in the PEA.
- AGP Mining Consultants Inc.coreAGP Mining Consultants Inc. was engaged as a consulting partner for the Quartz Mountain Gold Project PEA, responsible for mine engineering and mining costs estimation. The firm contributed Qualified Persons (QP) expertise including Joanne Robinson, P.Eng. for mining methods and mining costs.
- SLR International CorporationcoreSLR International Corporation contributed to the Quartz Mountain PEA as a consulting partner covering environmental considerations, permitting, and social aspects. Q-Gold also engaged SLR Environmental (Portland) as environmental permitting consultants for the project. SLR's team includes Jeremy Scott Collyard (QP, MMSA) and Scott Miller for environmental and permitting work.
- McGovern Hurley LLPcoreMcGovern Hurley LLP serves as Q-Gold Resources' external auditor. The company's auditors were re-appointed by shareholder vote at the 2026 AGM held on June 25, 2026.
- TSX Trust CompanyminorTSX Trust Company acts as the warrant agent for Q-Gold's common share purchase warrants, as specified in the warrant indenture dated October 3, 2025. The trust company administers the warrant acceleration mechanism triggered in April 2026 when the share price closed above $0.25 for 10 consecutive days.
- O2Gold Inc. (Terminated Transaction)minorO2Gold Inc. had entered into a share exchange agreement to acquire Quebec Aur Ltd. from Q-Gold Resources, including a shares-for-debt settlement that would have issued 7 million shares to settle amounts owed by Quebec Aur to Q-Gold. This agreement was terminated in April 2026 as O2Gold decided not to extend the term. The transaction was part of Q-Gold's strategic alternative evaluation.
Scale indicators8 records
Recent moves1 record
Expansion highlights7 records
Q-Gold Resources competitors and assessment
Company assessmentBroad incumbents
- Agnico Eagle Mines: Senior Canadian gold producer operating multiple mines in the region (US$1.5B+ of production nearby). Comparable as a broad incumbent in the same gold mining category with overlapping North American footprint.
- IAMGOLD: Intermediate gold producer with development and operating assets across the Americas. Comparable as a broad incumbent active in North American gold mining and project development.
- Kinross Gold: Senior gold producer with operations across North America, including the western US. Comparable as a broad incumbent with overlapping Tier-One jurisdiction gold exposure.
Others
Direct peers
- Euro Sun Mining: Gold development company previously led by Scott Moore (now Q-Gold's VP Corporate Development). Comparable as a peer-stage gold developer with a single flagship asset in a Tier-One jurisdiction.
- Alamos Gold: Mid-tier gold producer that previously owned and developed Quartz Mountain. Comparable as a direct peer in gold mining and development, and the source of Q-Gold's flagship asset and a 9% strategic stake.
- Seabridge Gold: Pre-production gold developer with large-scale resource assets in North America. Comparable as a multi-asset, development-stage gold company focused on advancing large resources toward feasibility and construction.
- Troilus Gold: Canadian gold development company advancing the Troilus project in Quebec. Highly comparable as a Canadian-listed, single-asset gold developer at a similar pre-construction stage.
- Calibre Mining: Mid-tier gold producer/developer focused on the Americas. Comparable as a peer-stage gold company transitioning from development to production in North and Central America.
- Osisko Mining: Canadian gold exploration and development company with advanced projects in Quebec. Comparable as a peer-stage gold developer with NI 43-101 resource stage assets and similar capital markets profile.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks7 records
Key highlights7 records
Customer concentration
Q-Gold Resources social profiles
Digital presenceQ-Gold Resources financial estimates
Financial estimateRevenue estimate
Valuation estimate
Q-Gold Resources leadership team
Management profileNumber of profiles
Profiles8 records
Q-Gold Resources funding detail
Funding detailFunding overview
Funding rounds5 records
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Q-Gold Resources M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Q-Gold Resources
What does Q-Gold Resources do?
Q-Gold Resources is a North American gold exploration and development company operating a dual-asset platform: the Quartz Mountain Gold Project (advanced-stage open-pit, heap-leach gold development asset in Lake County, Oregon, USA, with 2.01 Moz Au indicated and 494K oz Au inferred NI 43-101 resource) and the Mine Centre Gold Project (exploration asset in northwestern Ontario, Canada, with high-grade gold-silver vein systems). Once in production, the company will sell gold doré from Stage 1 oxide heap-leach processing and gold-bearing concentrate from Stage 2 sulfide flotation to refiners and smelters at LBMA spot prices, targeting average annual production of 135,400 oz over a 14-year mine life.
Is Q-Gold Resources a public or private company?
Q-Gold Resources is a public company. It is classified as public and is currently operating.
When was Q-Gold Resources founded?
Q-Gold Resources was founded in 1998. It employs 1 to 10 people.
Where is Q-Gold Resources based?
Q-Gold Resources is headquartered in Flagstaff, United States, in the North America region.
How does Q-Gold Resources make money?
Three revenue lines are on record. Gold Production and Sale (Doré and Concentrate) is the primary driver. The others are equity Financing and Flow-Through Share Placements and potential Shelf Prospectus Securities Issuance.
Who are Q-Gold Resources's main competitors?
Broad incumbents on record are Agnico Eagle Mines, IAMGOLD and Kinross Gold. New Gold is listed as an others. Direct peers are Euro Sun Mining, Alamos Gold, Seabridge Gold, Troilus Gold, Calibre Mining and Osisko Mining.
Does Q-Gold Resources have an API?
No public API is recorded for Q-Gold Resources.
What industry is Q-Gold Resources in?
Q-Gold Resources's product category is Gold Mining and Exploration. Its primary akta.pro industry code is IMAKAEAA, Gold Mining, with a secondary code of IMAKAEAB, Silver Mining. Its NAICS code is 21222 and its SIC code is 1040.