In this KE Report company update, Tara Christie, President and CEO of Banyan Gold, outlines a major strategic milestone for the company – the acceleration to 100% ownership of the AurMac Gold Project in Yukon.

Key takeaway: Banyan is simplifying its ownership structure, eliminating legacy royalty entanglements, and gaining greater control over project development – all while preserving cash.

Highlights from the Interview:

• AurMac Ownership Deal:
  Banyan has entered an agreement with PricewaterhouseCoopers, receiver of Victoria Gold’s assets, to acquire the remaining interest and eliminate multiple royalties and rights.
  • $2M cash due on closing, plus $1.6M in cash or shares within 75 days.
  • Expected to close by August 25th.
  
  
• Strategic Upside:
  • No further PEA requirement post-close, giving Banyan flexibility to include this year’s drilling.
  • Simplifies ownership and reduces legal/financial overhang for potential investors or partners.
  • Eliminates constraints tied to Victoria Gold, enhancing independence and optionality.
  
  
• Drill Program & High-Grade Focus:
  • Over 100 holes drilled (~20,000m) toward a 30,000m program, running through October.
  • High-grade zones (e.g. 16m of 9 g/t Au) are being further defined — potential game-changers for a future PEA and starter pit economics.
  
  
• Strong Treasury:
  • ~$17M in cash post-spring financing, giving flexibility without near-term need for dilution or royalty sales.
  
  
• Growing Interest from Majors:
  • Multiple site visits ongoing into September.
  • Infrastructure advantages and visible high-grade core make AurMac an attractive project.
  
  

If you have any follow up questions for Tara please email me at Fleck@kereport.com.

Click here to visit the Banyan Gold website.