Goliath Resources Amends Agreement to Increase Golddigger Property Ownership to 100% and Reduce NSR
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 22 2026
0mins
Source: Globenewswire
- Increased Ownership: Goliath Resources has amended its agreement with J2 Syndicate to increase its ownership of the Golddigger Property from 49% to 100% by issuing 3 million common shares, expected to be completed by March 15, 2026, thereby enhancing the company's control in the Golden Triangle region.
- Reduced NSR: The agreement reduces the Net Smelter Returns from 3% to 2%, which will lower future cost burdens and enhance the project's profitability and attractiveness, promoting long-term growth for the company.
- Extended Resource Estimate Timeline: Goliath commits to publishing its Maiden Resource Estimate by June 1, 2030, extending the original deadline of June 1, 2027, which provides the company with more time for exploration and data collection, alleviating short-term pressure.
- Change of Control Clause: Should a change of control occur before the resource estimate is published, the acquirer will assume obligations under the amended agreement, ensuring stability and continuity for the company post-acquisition.
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Analyst Views on MUX
Wall Street analysts forecast MUX stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for MUX is 22.00 USD with a low forecast of 21.00 USD and a high forecast of 23.50 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
3 Analyst Rating
3 Buy
0 Hold
0 Sell
Strong Buy
Current: 29.050
Low
21.00
Averages
22.00
High
23.50
Current: 29.050
Low
21.00
Averages
22.00
High
23.50
About MUX
McEwen Inc is a gold and silver mining production and exploration company. The Company is also involved in a copper development project. Its operations sites include San Jose Mine, Fox Complex, Gold Bar mine, El Gallo Complex, Project Fenix, Los Azules, and Fox West. The San Jose mine is located in the northwest corner of the Deseado Massif region, approximately 20 kilometers north of Newmont's Cerro Negro mine. The Fox Complex is located in the Timmins Gold Mining Camp in Northern Ontario, Canada. The Gold Bar Mine is located in the southern Roberts Mountains of the Battle Mountain-Eureka-Cortez gold trend in Eureka County, Central Nevada. The El Gallo Complex is located in Mexico’s Sinaloa State, along the foothills of the Sierra Madres Occidental mountain range. The Fox West properties are located in the heart of Timmins Gold Camp in northern Ontario, Canada. The Company also holds an interest in Tartan Lake Gold Mine Project, which is located in the province of Manitoba, Canada.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
McEwen Inc. Enters Definitive Agreement to Acquire Golden Lake Exploration
- Transaction Overview: McEwen and Golden Lake signed a Definitive Agreement on January 28, 2026, to acquire all outstanding shares of Golden Lake through a plan of arrangement, which, if completed, will make Golden Lake a wholly-owned subsidiary of McEwen, further integrating its mineral resources in Nevada.
- Asset Integration Benefits: Golden Lake's Jewel Ridge project boasts historical drill results of up to 2.20 gpt gold, and the integration will leverage McEwen's infrastructure and funding to enhance the long-term operational potential of the Gold Bar Mine Complex, thereby strengthening market competitiveness.
- Shareholder Value Enhancement: Golden Lake shareholders will receive compensation equivalent to 0.003876 McEwen shares per Golden Lake share, translating to approximately CDN $0.12 per share, representing a 60% premium to the 20-day volume-weighted average price, thereby increasing liquidity and investment appeal.
- Approval Requirements: The transaction requires the approval of 66⅔% of Golden Lake shareholders at a special meeting expected in March 2026, and if successful, will provide strong support for McEwen's long-term growth strategy.
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Goliath Resources to Showcase New Discovery at PDAC 2026
- Core Showcase Opportunity: Goliath Resources has been selected by the PDAC 2026 technical committee to display its new core samples at the PDAC convention in Toronto from March 3 to 4, which is expected to attract significant investor interest.
- Significant Drilling Results: Since its maiden drill campaign in 2021, Goliath has drilled over 150,000 meters at the Golddigger property, achieving a 100% success rate in intersecting mineralization across all holes, indicating the extensive potential of a 1.8 km² mineralized system.
- High Gold Recovery Rates: The Surebet discovery boasts a gold recovery rate of 92.2%, with 48.8% being free gold, utilizing gravity and flotation methods without cyanide, showcasing superior metallurgy that could reduce extraction costs.
- Infrastructure Advantages: The Golddigger property is strategically located near the communities of Alice Arm and Kitsault, featuring an existing mill site and direct barge access to Prince Rupert, enhancing the project's feasibility and future growth potential.
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