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Central Nevada Gold to pursue more Nevada precious metals after Mule Canyon buy

The company closed the $20.0 million Mule Canyon acquisition in late June and is targeting a construction decision in 2028 after advancing prefeasibility and permitting.

Reported · Written up by our desk · Mining

Central Nevada Gold, a privately held precious metals developer, plans to look for additional gold and silver opportunities in Nevada after it purchased the past-producing Mule Canyon mine from Newmont.

Housing the project on the path toward development, the company said it closed the $20.0 million transaction in late June, and it is advancing Mule Canyon through prefeasibility and permitting with a construction decision targeted for 2028.

Central Nevada also expects to announce a new mineral resource estimate for the property in the coming months. It added that an initial public offering is in the works, potentially as early as the first half of 2027.

Mule Canyon was discovered in 1986 by Gold Fields and brought into production by Newmont in 1996, producing about 500,000 oz. of gold over five years before mining ended in 2000 due to low gold prices. Mining.com reported the CEO said the elevated commodities backdrop has encouraged larger producers to sell smaller, non-core assets, and he wants Central Nevada to benefit from that trend.

Latest closeGold $4,432.00 ▲1.6%|Silver $64.83 ▼0.1%

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