Nevada King Gold’s Atlanta project is a past-producing low sulfidation epithermal oxide gold-silver system in Lincoln County, Nevada, about 26 km northeast of Las Vegas. The conversation covers the current 40,000 metre phase 4 drill program, the company’s finances, management and insider ownership, the royalty situation, and plans (or lack thereof) for an economic study.

TL;DR

Nevada King Gold has a current resource of about 1.1 million ounces gold (measured and indicated) plus 100,000 ounces inferred, mostly at the historic Atlanta mine, with some silver credits. They’re running a 40,000 metre phase 4 RC drill program with three rigs (one RAB, two RC) aimed at expanding the resource and testing satellite targets like Atlanta South, Western Rim, and Silver Park. CEO John told me they have C$18 million in the bank, call it fully funded through 2027, and that no economic study is planned until they figure out whether they have satellite deposits worth adding to the mix. He said the program got off to a slow start (only about 12,000 metres drilled through the first six months) due to delays getting a second drill rig, but expects the pace to pick up now that both RC rigs are running two 12-hour shifts. Reporting insiders own about 37% of the company, and there’s a 3% NSR royalty on the whole land package held within Made in America Gold, part of the Palisades portfolio, where chairman Colin Catel is also CEO.

What have they done for shareholders lately?

John said the company cut management and director fees roughly 50% year-over-year following changes at the August 2025 AGM, when he moved from president to CEO, a new CFO came in, and the executive chairman role was eliminated. They completed a resource update, put out drill results from the East Ridge target, received BLM approval for 482 new drill sites (permitted within a two-month window), got a second RC rig to site, did a 5:1 share consolidation in May, and uplisted to the OTCQX. They also brought in Cantara Resources as a strategic shareholder (9.9% position) after what John described as extensive due diligence, following earlier investments from Franklin Templeton and DWS (Deutsche Bank’s asset management arm).

How much money do they have and what are they spending it on?

John said the company has C$18 million in the bank, which he says will carry them through 2027 and well beyond the current 40,000 metre drill program. The most recent financing was C$16.3 million in April, done at 21 cents pre-consolidation (equivalent to about C$1.25 post-consolidation), and the Cantara investment came in at an equivalent of C$1.50. There are no warrants outstanding. John estimated G&A, including marketing, at about C$1.5 million per quarter, and said over 70% of all spending goes toward drilling and exploration. RC drilling costs about C$80 per metre, which he attributes to site infrastructure (crew quarters, power, Starlink) that saves on drilling company per diem costs.

Upcoming catalysts

Technical/Operational: continued RC and RAB drilling across Atlanta South, Western Rim, Silver Park (infill), and East Ridge through the second half of 2026, with results expected fairly steadily given a 40 to 45 day assay turnaround; John estimated drilling could reach around 25,000 metres by year end and roughly 35,000 metres total, short of the full 40,000 metre target, with completion possibly extending into Q1 2027. A resource update at Silver Park and/or Atlanta could follow depending on infill results. No economic study (PEA) is planned for 2026, and it remains contingent on further drill results. No additional metallurgical work is planned this year outside of possible future work at Silver Park.

Corporate: John mentioned upcoming conference appearances at Beaver Creek (September), Denver Gold Show (late September), and additional conferences in October and November as ongoing investor outreach.

Risks in the next months

John identified the biggest risk as exploration risk, meaning the possibility that continued drilling doesn’t turn up a major new discovery. He also flagged financing and dilution risk longer term, since the company doesn’t generate revenue and will eventually need to raise money again, along with labour risk given competition for drillers and consultants in Nevada. He ranked permitting, local community relations, and water availability as lower priority risks, saying the company has all the water it needs for exploration but is working to secure more water rights ahead of any future production decision. He also noted that gold price and broader equity market sentiment affect financing conditions going forward.

Nevada King Gold CEO Interview

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