Dr. Dave Webb

Sixty North Gold on Fast-Track to Gold Mine Restart

Sixty North Gold is restarting the past-producing Mon Gold Mine by skipping diamond drilling and formal studies and going straight to underground development. Dave Webb estimates grade below historic workings with a Yellowknife rule: the next stope (underground ore opening) matches the grade mined above for 20 meters. The restart plans a 100 ton-per-day mill with gravity and flotation circuits, targeting roughly 100 ounces of gold per day. After reporting $146 per ton development costs, the CEO projects breakeven near $500 per ounce versus gold around $6,000. A regulator's do-not-install order paused the mill; the board wants about 18 more months of baseline water sampling through September 2027.

Sixty North Gold Might Be Pouring Gold Before the End of 2026 in Yellowknife

• Top takeaway He argues a small, high-grade deposit cannot justify the cost of the full feasibility-study route, so restarting an already-developed mine directly is the practical path, and that NI 43-101 allows it as long as everything is fully disclosed.
• He frames approval of the final management plans as the near-term catalyst, and puts first pour at late September or early October 2026 while calling the timing open-ended because 2023 wildfires and drought have raised extra questions on the water management plans.
• He sizes the deposit at roughly half a million ounces producing 50,000 to 70,000 ounces a year and calls it worthwhile particularly if it is high grade.
• He says trend-following retail investors are not worth targeting, while advanced investors strip a feasibility study down to the bare bones, so the company publishes its development mining cost of about $125 per ton instead of projections.
• He backs the geology with local precedents, noting Yellowknife's Conn mine of 1936, Giant of 1944 and Discovery of 1949 that produced about a million ounces at roughly 1 ounce per ton, and says he has found close to 2.5 million ounces in the belt.

Sixty North Gold is skipping the decade-long study path, restarting the past-producing Mon Gold Mine in Yellowknife at 100 tons per day. The guest argues a 500,000-ounce deposit yielding 50,000 to 70,000 ounces a year cannot support the cost of a formal study. NI 43-101 (Canada's mineral disclosure standard) allows the shortcut but blocks financial forecasts, so investors rebuild the economics themselves. The Northwest Territories is Canada's only federal permitting regime, and roughly fourteen management plans still stand between Sixty North and pouring gold. The guest targets a gold pour in late September or early October 2026, with 2023 wildfire and drought conditions holding up water plan approvals.