HighGold Mining
HighGold Mining is a pre-revenue Canadian gold exploration company focused on advancing its flagship Johnson Tract polymetallic gold-zinc-copper project in Alaska, currently being acquired by Contango ORE for approximately US$37 million.
- Company typePublic
- Founded2019
- HeadquartersVancouver, Canada
- Headcount11–50
- GTM typeB2B
- OfferingServices
What HighGold Mining does
HighGold Mining Inc. is a Canadian mineral exploration company incorporated in British Columbia in 2019 through a spin-out from Constantine Metal Resources. The company is focused on advancing high-grade gold and polymetallic mineral projects in North America, with its flagship asset being the 21,000-acre Johnson Tract Gold-Zinc-Copper-Silver-Lead Project in Southcentral Alaska, located near tidewater within Lake Clark National Park and Preserve. Operations rely on conventional mineral exploration methods, including diamond drilling, MobileMT airborne electromagnetic and magnetic geophysical surveys, DCIP ground surveys, geological mapping, rock and soil geochemical sampling, and metallurgical testing. As of the most recent resource update, the Johnson Tract JT Deposit hosts an Indicated Resource of 3.489 Mt grading 9.39 g/t AuEq (1.05 Moz AuEq) and an Inferred Resource of 0.706 Mt grading 4.76 g/t AuEq (0.108 Moz AuEq), with 91% of contained ounces in the Indicated category and average true thickness of approximately 40 meters; the property also contains the bonanza-grade Ellis Zone discovery and a 12-km prospective corridor of epithermal/VMS-style targets.
The company is pre-revenue and has historically funded exploration through equity financings rather than operating cash flow. Since its 2019 TSX-V listing, HighGold has completed multiple bought-deal private placements, non-brokered private placements, an SEC Form D exempt offering, and a bought deal plus private placement totaling approximately C$45 million and US$26 million cumulatively, with a peak raise of US$18.8 million in October 2021. Shares trade on the TSX Venture Exchange (TSX-V: HIGH) and the US OTCQX market (HGMIF), and the company is headquartered in Vancouver with 11-50 employees. In June 2023, HighGold spun out its Ontario (Timmins area) and Yukon (Selwyn Basin) gold properties into Onyx Gold Corp. via a Plan of Arrangement, narrowing its strategic focus to the Alaska flagship. In May 2024, the company entered a definitive arrangement agreement to be acquired by Contango ORE, Inc. for approximately US$37 million (Cdn$51 million) at a 59% premium, with closing anticipated in July 2024 and Contango committed to honoring HighGold's lease with Cook Inlet Region Inc. (CIRI).
HighGold Mining firmographics
Firmographics- Name
- HighGold Mining
- Legal name
- HighGold Mining Inc.
- Website
- https://highgoldmining.com
- Company type
- Public
- Founded year
- 2019
- Operating status
- Acquired
- Headcount range
- 11–50 employees
- Short description
- HighGold Mining is a pre-revenue Canadian gold exploration company focused on advancing its flagship Johnson Tract polymetallic gold-zinc-copper project in Alaska, currently being acquired by Contango ORE for approximately US$37 million.
- Ownership category
- akta.pro rank
HighGold Mining industry classification
Industry- Product category
- Gold and Polymetallic Mineral Exploration
- NAICS
- Gold Ore and Silver Ore Mining (21222), Other Metal Ore Mining (212290), Support Activities for Metal Mining (213114)
- SIC
- Gold And Silver Ores (1040), Metal Mining (1000)
- akta.pro primary industry
- Gold Mining (IMAKAEAA)
- akta.pro secondary industries
- Mineral Exploration & Geoscience Services (Geology, Geophysics, Geochemistry, Resource Modeling) (IMAKAKAA), Silver Mining (IMAKAEAB), Mine Surveying & Geospatial Services (Survey, Drone/LiDAR, GIS, Grade Control) (IMAKAKAK)
Keywords
Where HighGold Mining is headquartered
LocationHeadquarters
- HQ city
- Vancouver
- HQ country
- Canada
- HQ region
- North America
Offices1 record
Markets served
HighGold Mining business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Operations, Personnel, Marketing or Sales, Technology or R&D, Others
Revenue model
- Equity Financing: HighGold Mining is a pre-revenue exploration stage company that raises capital through equity offerings including bought deal public offerings, private placements, and warrant exercises. The company has completed multiple financings including a C$9.25 million private placement in April 2023, C$9 million private placement in April 2023 (upsized from C$7 million), $18.8 million bought deal and private placement in October 2021, and $13.8 million upsized bought deal financing in July 2020.
- SEC Form D Exempt Offering: The company completed an SEC Form D exempt offering of securities in the United States for approximately $3.98 million with all securities successfully sold.
Go-to-market motion1 record
Distribution channels3 records
Marketing channels7 records
HighGold Mining product offering
Product offeringCore offering
HighGold Mining is a Canadian mineral exploration company that acquires, explores, and advances high-grade gold and polymetallic mineral properties, principally its flagship Johnson Tract Gold-Zinc-Copper Project on 21,000 acres of CIRI-owned land in coastal Southcentral Alaska. The company historically also held Ontario (Timmins-area Munro-Croesus, Golden Mile, Timmins South) and Yukon Selwyn Basin gold exploration properties, which were spun out to Onyx Gold Corp. in June 2023. Operations have consisted exclusively of mineral exploration drilling, geophysical surveys, and resource estimation, with no commercial mining or production revenue.
Product overview
HighGold Mining is a Canadian gold exploration company focused on advancing high-grade gold projects in North America. The company's portfolio consists of mineral exploration properties and projects rather than technology products. Its flagship asset is the Johnson Tract Gold-Zinc-Copper Project in Alaska, which includes the high-grade JT Deposit. The company also holds several exploration assets in Ontario's Timmins gold camp (Munro-Croesus Gold, Golden Mile, and Timmins South projects) and Yukon properties in the Selwyn Basin. In May 2023, HighGold completed a spin-out of its Yukon and Ontario properties into a new company called Onyx Gold Corp.
Differentiator
Problem solved
Functional benefit
Products and services
- Johnson Tract Project HighGold's flagship polymetallic gold-zinc-copper-silver-lead project on 21,000 acres of CIRI-owned land in coastal Southcentral Alaska, located 125 miles southwest of Anchorage. Includes the high-grade JT Deposit with an Indicated Resource of 1.05 Moz at 9.39 g/t AuEq and at least nine other mineral prospects across a 12-kilometer strike length. Operations are conducted under a 10-year lease (with renewal option) with Cook Inlet Region Inc.
- Munro-Croesus Gold Project 100% owned gold exploration project located 75 km east of Timmins, Ontario, along Highway 101 on the Porcupine-Destor and Pipestone faults. Includes the past-producing Croesus Mine, historically known for bonanza-grade gold production. Project covers 63 square kilometers.
- Golden Mile Project 94 square kilometer greenfields gold exploration project located nine kilometers northeast of Newmont-Goldcorp's multi-million-ounce Hoyle Pond deposit in the Timmins gold camp, Ontario. Covers the extension of the Pipestone Fault System.
- Timmins South Project Early-stage gold exploration project in the world-class Timmins gold camp in Northeastern Ontario, adjacent to the Dome Mine. Total property size of 186 square kilometers across Main Block, West Block, and Shaw Block.
- Yukon Properties Four separate gold exploration properties totaling 1,023 claims and 21,000 hectares in the Selwyn Basin, Yukon, including King Tut, Canol, Stan, and RGS properties. King Tut hosts multi-kilometer gold-in-soil anomalies associated with reduced intrusion-related gold deposit type.
- Direct Shipment Ore (DSO) Opportunity Potential direct shipment ore operating model for the Johnson Tract Project, whereby mineralized material could be shipped to an existing off-site processing facility, enabling potential production without conventional standalone mine development.
Quantifiable outcome
- Indicated Resource of 3.489 Mt grading 9.39 g/t AuEq for 1.053 Moz AuEq with 91% of ounces in Indicated category
- +2 more outcomes
Companies that use HighGold Mining
Customer profileSegments3 records
Ideal customer profiles4 records
HighGold Mining technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
HighGold Mining partnerships and signals
Strategic signalPartnerships
Five partnerships are on record, tiered core and minor.
- Contango ORE, Inc.coreContango announced acquisition of HighGold by way of court-approved plan of arrangement under the Business Corporations Act (British Columbia). Each HighGold share exchanged for 0.019 Contango shares, implying total consideration of approximately US$37 million (Cdn$51 million) representing a 59% premium. Upon completion, existing Contango shareholders own approximately 85% and HighGold shareholders own approximately 15% of combined company. Contango to honor HighGold's lease agreement with CIRI. Expected to close in July 2024 subject to shareholder and regulatory approvals.
- Onyx Gold Corp.minorOnyx Gold Corp. was spun out from HighGold Mining in June 2023 through a Plan of Arrangement. Onyx acquired HighGold's Ontario and Yukon gold exploration properties (Munro-Croesus, Golden Mile, Timmins South, Yukon properties). HighGold shareholders received 0.25 Onyx Gold share per HighGold share held. Onyx Gold completed a C$8.36 million private placement concurrent with the spin-out. Ian Cunningham-Dunlop, HighGold's VP Exploration, became CEO of Onyx Gold.
- Wahgoshig First NationminorHighGold signed exploration agreement with Wahgoshig First Nation in December 2021 upon completion of Phase One Ontario drill program. The agreement establishes the framework for the relationship and economic benefits for the First Nation community related to exploration activities on their traditional territory.
- Matachewan and Mattagami First NationsminorHighGold signed exploration agreement with Matachewan and Mattagami First Nations in June 2021. The agreement establishes the framework for the relationship and economic benefits for the First Nation communities related to exploration activities on their traditional territories in the Timmins area of Ontario.
- Cook Inlet Region Inc. (CIRI)coreCIRI is one of 12 land-based Alaska Native Regional Corporations created by the Alaska Native Claims Settlement Act of 1971. On May 21, 2019, CIRI entered into a lease agreement with Constantine Metal Resources Ltd., subsequently assigned to HighGold Mining, authorizing exploration of the Johnson Tract gold-zinc deposit on CIRI-owned private land within Lake Clark National Park and Preserve. The 2019 lease has a ten-year term plus renewal option, including annual lease payments and work commitments until production. Upon completion of feasibility study, CIRI has the option to invest as a partner in addition to receiving royalties on gold and base metals. CIRI is owned by approximately 9,000 shareholders of Alaska Native descent.
Scale indicators9 records
Recent moves8 records
Expansion highlights4 records
HighGold Mining competitors and assessment
Company assessmentBroad incumbents
- Novagold Resources: Advanced-stage gold developer with the Donlin Gold project in Alaska. Larger, more advanced Alaska gold peer that illustrates the permitting and development journey facing HighGold's Johnson Tract asset.
- Victoria Gold Corp. Yukon-based gold producer that operated the Eagle Gold mine. Comparable as a Yukon-focused gold company and as a benchmark for what successful exploration-stage development into production looks like in this jurisdiction.
- Seabridge Gold: Large-cap gold-copper developer with KSM and Iskut projects in British Columbia. Comparable as a North American advanced-stage gold developer, with much larger resource base but similar jurisdictional risk profile.
- Contango ORE: Alaska-focused gold producer and the announced acquirer of HighGold. Comparable in jurisdiction and commodity focus, but Contango is an operating producer (Manh Choh project) rather than a pre-revenue explorer, making it a larger incumbent peer.
Direct peers
- Troilus Gold Corp. Canadian gold-copper developer advancing the Troilus project in Quebec. Comparable as a junior gold developer with polymetallic credits (Au-Cu-Ag) at a district-scale property, pursuing a PEA/feasibility-stage project in Canada.
- ATAC Resources: Yukon-focused gold explorer with Carlin-style oxide gold discoveries at the Rackla gold belt. Direct comparable as a Yukon-focused junior gold explorer using systematic district-scale exploration approaches similar to HighGold.
- Constantine Metal Resources: The parent from which HighGold was spun out in 2019, holding the original Johnson Tract lease that HighGold now operates. Comparable in asset portfolio and management DNA, focused on the Palmer VMS project in Southeast Alaska.
- Snowline Gold Corp. Yukon-focused gold explorer with reduced intrusion-related gold discoveries. Previously optioned portions of HighGold's Yukon property package, making Snowline a direct comparable for the type of high-grade gold targets HighGold pursued in the Selwyn Basin.
- Onyx Gold Corp. Spun out from HighGold in June 2023, Onyx Gold holds HighGold's former Ontario (Timmins) and Yukon gold exploration assets. It is the most directly comparable peer, sharing management lineage and project DNA, but focusing on Canadian rather than Alaska exploration.
Emerging players
- Fireweed Zinc Corp. Critical minerals (zinc-lead-silver-germanium) explorer in Yukon, previously optioned portions of HighGold's Yukon properties. Comparable as a Yukon-focused junior with polymetallic critical minerals exposure.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights6 records
Customer concentration
HighGold Mining social profiles
Digital presenceHighGold Mining financial estimates
Financial estimateRevenue estimate
Valuation estimate
HighGold Mining leadership team
Management profileNumber of profiles
Profiles4 records
HighGold Mining subsidiaries and ownership
Company hierarchySubsidiaries2 records
HighGold Mining funding detail
Funding detailFunding overview
Funding rounds5 records
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
HighGold Mining 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 HighGold Mining
What does HighGold Mining do?
HighGold Mining is a Canadian mineral exploration company that acquires, explores, and advances high-grade gold and polymetallic mineral properties, principally its flagship Johnson Tract Gold-Zinc-Copper Project on 21,000 acres of CIRI-owned land in coastal Southcentral Alaska. The company historically also held Ontario (Timmins-area Munro-Croesus, Golden Mile, Timmins South) and Yukon Selwyn Basin gold exploration properties, which were spun out to Onyx Gold Corp. in June 2023. Operations have consisted exclusively of mineral exploration drilling, geophysical surveys, and resource estimation, with no commercial mining or production revenue.
Is HighGold Mining a public or private company?
HighGold Mining is a public company. It is classified as public and is currently acquired.
When was HighGold Mining founded?
HighGold Mining was founded in 2019. It employs 11 to 50 people.
Where is HighGold Mining based?
HighGold Mining is headquartered in Vancouver, Canada, in the North America region.
How does HighGold Mining make money?
Two revenue lines are on record. Equity Financing is the primary driver. The others are SEC Form D Exempt Offering.
Who are HighGold Mining's main competitors?
Broad incumbents on record are Novagold Resources, Victoria Gold Corp., Seabridge Gold and Contango ORE. Direct peers are Troilus Gold Corp., ATAC Resources, Constantine Metal Resources, Snowline Gold Corp. and Onyx Gold Corp.. Fireweed Zinc Corp. is listed as an emerging player.
Does HighGold Mining have an API?
No public API is recorded for HighGold Mining.
What industry is HighGold Mining in?
HighGold Mining's product category is Gold and Polymetallic Mineral Exploration. Its primary akta.pro industry code is IMAKAEAA, Gold Mining, with a secondary code of IMAKAKAA, Mineral Exploration & Geoscience Services (Geology, Geophysics, Geochemistry, Resource Modeling). Its NAICS code is 21222 and its SIC code is 1040.