Monitor for updated resource estimate incorporating these high-grade antimony intercepts and any off-take agreements for antimony metal. The path to commercial antimony production remains subject to further metallurgical test work and feasibility-level studies.
Price Chart
Executive Summary
Canagold Resources reported exceptional drill results at its New Polaris project, including 30.46% antimony and 49.10 g/t gold over 1.21m within a broader 13.2m interval averaging 3.83% Sb and 19.38 g/t Au. Separately, the company successfully produced physical antimony metal grading >99% Sb from New Polaris concentrate, demonstrating a technical pathway to capture more of the antimony value chain. These milestones enhance the project's economics beyond the already robust gold feasibility study, though the company remains pre-revenue with a going concern uncertainty noted in the prior 20-F.
Key Facts
- Drill hole NP26-01 intersected 3.83% Sb and 19.38 g/t Au over 13.20m, including 1.21m grading 30.46% Sb and 49.10 g/t Au
- Drill hole NP26-02 returned 3.90% Sb and 14.97 g/t Au over 6.06m, including 0.83m grading 24.68% Sb and 29.0 g/t Au
- 14-hole drill program completed with 7,277m drilled targeting high-grade antimony zone
- Physical antimony metal produced grading >99% Sb from New Polaris concentrate using alkaline sulphide leach and electrowinning
- 99.7% antimony leach extraction achieved in refining test work
- Previous locked-cycle flotation generated concentrate assaying 59.1% Sb and 98.3 g/t Au (Oct 2025)
- New Polaris Feasibility Study (2025) shows after-tax NPV of $425M and IRR 30.9% at $2,500/oz gold
- Company had net loss of $2.6M and accumulated deficit of $59.2M per prior 20-F, with going concern uncertainty
Financial Impact
Drill results and antimony metal production are technical milestones with no immediate revenue impact; Feasibility study economics show after-tax NPV $425M and IRR 30.9% at $2,500/oz gold
Risk Factors
- Company remains pre-revenue with going concern uncertainty per prior 20-F
- Antimony metal production at commercial scale not yet demonstrated
- Drill intercepts shown as core length; true width not yet determined
- Project still requires permitting and financing to reach production
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001062993-26-005201 |
| Exhibit: exhibit99-2.htm | 0001062993-26-005201 |
| Document: form6k.htm | 0001062993-26-005201 |
| Document: 0001062993-26-005201-index-headers.html | 0001062993-26-005201 |
| Document: 0001062993-26-005201-index.html | 0001062993-26-005201 |
| Document: 0001062993-26-005201.txt | 0001062993-26-005201 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 22, 2026 4d ago | 6-K | $0.4400 $0.4500 | ▲ +2.27% | ▲ +2.79% | $0.4600 (+4.55%) |
Oct 13, 2026 13d ago | SC 13D | $0.4700 $0.4900 | ▲ +4.26% | ▲ +3.97% | $0.4600 (−2.13%) |
Oct 6, 2026 20d ago | 6-K | $0.5100 $0.5000 | ▼ −1.96% | ▼ −1.54% | $0.4600 (−9.80%) |
Sep 22, 2026 4w ago | 6-K | $0.5300 $0.5200 | ▼ −1.89% | ▼ −1.80% | $0.4600 (−13.21%) |
Apr 30, 2026 25w ago | 20-F | $0.3700 $0.4000 | ▲ +8.11% | ▲ +7.89% | $0.4600 (+24.32%) |
Apr 2, 2026 29w ago | 6-K | $0.4100 $0.4100 | · 0.00% | ▼ −0.48% | $0.4600 (+12.20%) |
US Market Status
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