Patriot Gold

What Patriot Gold does

Patriot Gold Corp is a junior precious metals royalty and exploration company headquartered in Reno, Nevada, focused on gold and silver assets in the US Southwest. The company operates a capital-light royalty model derived from two Nevada-Arizona projects: a 3% net smelter returns (NSR) royalty on the producing Moss Mine, an open-pit heap-leach gold-silver operation in Arizona now owned by Elevation Gold Mining Corporation (via its subsidiary Golden Vertex Corp), and a 2% NSR royalty on the Bruner gold project in Nevada, currently owned by Endeavour Silver Corp and not yet in production. Patriot retains 100% ownership of two early-stage exploration assets, the Windy Peak Gold Project (118 unpatented claims, ~2,419 acres in the Fairview mining district) and the Vernal Gold Project (12 unpatented claims, 240 acres in the Shoshone Mountains).

The company's revenue model is centered on the Moss Mine royalty, with H1 2022 royalty revenue of $795,807 compared to $980,181 in H1 2021. Revenue is derived entirely from a single producing asset, while the Bruner royalty remains pre-revenue and exploration-stage projects generate no income. GTM motion is sales-led through public market listings (CSE: PGOL and US OTC: PGOL), regulatory filings, and direct engagement with mining companies for project options and buyouts — a model validated by the prior Moss and Bruner working-interest sales to Northern Vertex and Canamex, respectively, which converted operating exposure into perpetual royalties. With 1-10 employees, a subsidiary (Provex Resources), and approximately 61.35 million common shares outstanding as of February 2024, Patriot is a micro-cap royalty holding entity whose value depends almost entirely on a single mine's production economics.

Name

Patriot Gold

Legal name

Patriot Gold Corp

Website

https://patriotgoldcorp.com

Company type

Public

Founded year

2003

Operating status

Operating

Headcount range

1–10 employees

Short description

Patriot Gold Corp is a Reno-based junior gold and silver royalty and exploration company holding a 3% NSR royalty on the producing Moss Mine in Arizona and a 2% NSR on the Bruner project in Nevada, plus 100% of the early-stage Windy Peak and Vernal exploration projects, serving public market investors seeking precious metals royalty exposure.

Ownership category

akta.pro rank

Product category

Gold and Silver Mining Royalties

NAICS

Gold Ore and Silver Ore Mining (212220)

SIC

Gold And Silver Ores (1040)

akta.pro primary industry

Gold Mining (IMAKAEAA)

akta.pro secondary industry

Silver Mining (IMAKAEAB)

Keywords

• Gold royalty interests
• Mineral exploration assets
• Precious metals development
• Silver royalty interests
• Mining project royalties

Headquarters

HQ city

Reno

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Others, Marketing or Sales

Revenue model

1. Moss Mine Royalty (3% NSR): Patriot holds a 3% net smelter returns royalty on the Moss Mine project in Arizona, which is now in commercial production owned by Elevation Gold Mining Corporation. Royalty revenue of $795,807 recorded in H1 2022.
2. Bruner Gold Royalty (2% NSR): Patriot holds a 2% net smelter returns royalty on the Bruner gold project in Nevada, currently owned by Endeavour Silver Corp. Not yet in production but has completed a PEA with indicated resources of 260,000 oz Au.
3. Project Option Agreements: Patriot has historically optioned projects to partners (Northern Vertex for Moss, Canamex for Bruner) who earn interests by spending exploration and development capital. Partners paid Patriot directly (e.g., US$500,000 signing payment, C$1.5M for Moss buyout, US$1M for Bruner buyout).

Go-to-market motion1 record

Distribution channels2 records

Marketing channels4 records

Core offering

Patriot Gold Corp is a gold and silver royalty and exploration company that generates revenue from net smelter returns (NSR) royalties on third-party-operated mines in Nevada and Arizona. The company holds a 3% NSR royalty on the producing Moss Mine and a 2% NSR royalty on the Bruner gold project, and retains 100% interests in early-stage gold exploration properties (Windy Peak and Vernal) in Nevada.

Product overview

Patriot Gold Corp is a gold and silver exploration and royalty company focused on Nevada and Arizona. The company operates a portfolio of royalty interests and wholly-owned exploration assets. Its royalty portfolio includes the Moss Mine Royalty (3% NSR on a producing gold-silver mine in Arizona) and the Bruner Gold Royalty (2% NSR on an advanced exploration project in Nevada with a completed PEA). The wholly-owned exploration assets include the Windy Peak Gold Project and Vernal Gold Project, both early-stage gold exploration properties in Nevada.

Differentiator

Problem solved

Functional benefit

Products and services

• Moss Mine Royalty A 3% net smelter returns (NSR) royalty on the Moss Mine project, an open-pit heap-leach gold-silver operation in northern Arizona near Bullhead City, in commercial production under Elevation Gold Mining Corporation.
• Bruner Gold Royalty A 2% net smelter returns (NSR) royalty on the Bruner gold project, a gold exploration property located approximately 130 miles east-southeast of Reno, Nevada, with a completed Preliminary Economic Assessment and indicated resources of 260,000 oz Au.
• Windy Peak Gold Project A wholly-owned early-stage gold exploration project consisting of 118 unpatented claims totaling approximately 2,419 acres, located approximately 5.5 miles south of Middlegate and 45 miles southeast of Fallon, Nevada, targeted for epithermal gold-silver mineralization.
• Vernal Gold Project A wholly-owned early-stage gold exploration project consisting of 12 unpatented mining claims (240 acres), located approximately 140 miles east-southeast of Reno, Nevada, on the west side of the Shoshone Mountains, targeting high-grade vein and sheeted vein mineralization similar to the Paradise Peak Mine deposit style.

Named customers2 records

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Four partnerships are on record, tiered core and minor.

• Canamex Resources Corp / Endeavour Silver CorpcoreStrategic or Co-development Partner · 26 April 2017Canamex Resources optioned the Bruner project in May 2010, earning 70% by spending $6 million. In April 2017, Canamex purchased Patriot's remaining 30% working interest for US$1 million cash while Patriot retained a 2% NSR royalty. Canamex also had an option to buy down half the NSR for $5 million within five years. Endeavour Silver Corp subsequently acquired Canamex and now owns the project.
• Northern Vertex Mining Corp / Golden Vertex CorpcoreStrategic or Co-development Partner · 26 May 2016Northern Vertex optioned the Moss Mine project in March 2011, earning 70% interest by spending US$8 million. In May 2016, Northern Vertex bought out Patriot's remaining 30% working interest for C$1,500,000 (C$1.2M cash + C$300K shares) while Patriot retained a 3% NSR royalty. The mine entered commercial production in Q1 2018. Ownership later transferred to Golden Vertex Corp, a subsidiary of Elevation Gold Mining Corporation.
• Scott E. Wilson Consulting IncminorImplementation/ SI/ Consulting Partner · 25 October 2011Independent engineering firm from Denver, Colorado that conducted NI 43-101 compliant resource calculations for the Moss Mine project, establishing the 590,400 ounce gold equivalent resource.
• American International Ventures IncminorOthers · 1 May 2010Patriot entered into a 7-year option to purchase 28 patented claims at the Bruner project from American International Ventures Inc, located in Evergreen, Colorado.

Scale indicators6 records

Recent moves7 records

Expansion highlights1 record

Direct peers

• Osisko Gold Royalties: Osisko Gold Royalties holds a portfolio of gold-focused royalties, streaming agreements, and minority equity interests in mining companies. Its mid-cap precious-metals royalty focus and mix of producing and development-stage royalties is structurally similar to Patriot's portfolio approach.
• Metalla Royalty and Streaming: Metalla is a precious metals royalty and streaming company that acquires and holds royalties against primarily producing and development-stage mines. Its growth-stage profile and focus on smaller, single-asset royalties make it a close size-comparable for Patriot.
• Sandstorm Gold Royalties: Sandstorm is a leading precious metals royalty and streaming company with a diversified portfolio of gold and silver royalties. It is directly comparable to Patriot's royalty-focused model, though at vastly greater scale, and offers a benchmark for how the market values pure-play royalty streams.
• Wheaton Precious Metals: Wheaton is a major precious metals streaming company with long-term agreements to purchase gold and silver from producing mines. Its streaming model is functionally similar to Patriot's NSR royalties and serves as a comparable for valuation of cash-flowing precious metals interests.
• Endeavour Silver Corp: Endeavour Silver is the current operator/owner of the Bruner gold project on which Patriot holds a 2% NSR. As the counterparty to Patriot's Bruner royalty, Endeavour's development decisions directly affect Patriot's future revenue trajectory, making it the most relevant peer/partner.
• Elevation Gold Mining Corporation: Elevation Gold (via its Golden Vertex subsidiary) is the current owner and operator of the Moss Mine, on which Patriot holds a 3% NSR. Its production volumes and operating decisions drive essentially all of Patriot's current royalty revenue, making it the single most economically-linked comparable.

Broad incumbents

• Royal Gold, Inc. Royal Gold is a major precious metals royalty company with interests in producing mines worldwide. It is comparable to Patriot through its core NSR royalty model against gold and silver producing assets, though at much larger scale and broader geographic diversification.
• Franco-Nevada Corporation: Franco-Nevada is the world's largest gold-focused royalty and streaming company. While vastly larger and more diversified, its business model of holding royalty and streaming interests against producing and development-stage mining assets is directly analogous to Patriot's strategy.

Emerging players

• Maverix Metals: Maverix Metals is a precious metals royalty and streaming company focused on acquiring royalties from mid-tier and junior miners. Its growth-via-acquisition model and small/mid-cap scale make it a comparable emerging royalty peer to Patriot.
• Vox Royalty Corp: Vox is a small-cap precious metals royalty company built by acquiring royalties from junior miners, with a portfolio similar in size and risk profile to Patriot's. It is directly comparable as a fellow emerging royalty aggregator focused on gold and silver.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat1 record

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/corp_patriot

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Patriot Gold