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Headwater Gold Locks In Third Earn-In Deal with Newmont

CEO.CA Aug 13, 2026 11:19

Summary

Headwater Gold announced a third Newmont earn-in (a deal where a partner funds exploration to earn ownership) on a new Walker Lane project.

Staged terms: $10 million for 51%, $20 million more for 65%, then a pre-feasibility study for 75% plus a 2% NSR royalty (production revenue share).

Centerra-funded drilling at Crane Creek — the first since the 1990s — chases a much larger epithermal (hot-spring origin) gold system below shallow historic holes.

Twin rigs at OceanaGold-funded Jake Creek chase shallow epithermal gold that historic deep Carlin-type drilling found but never followed up.

Acting as operator on partner-funded projects earns a 10% management fee covering most corporate overhead so spending flows to exploration and drilling.

Key points on Newmont

  • As of the August 13, 2026 announcement, Newmont has signed a third earn-in agreement with Headwater Gold, this one on the recently staked, district-scale Jupiter land position in Nevada's Walker Lane.
  • The guest describes a three-stage earn-in: $10 million US of exploration spending earns Newmont an initial 51% interest, an additional $20 million US raises that to 65%, and delivering a pre-feasibility study takes Newmont to 75%.
  • If the earn-in completes, Headwater keeps a 2% NSR royalty plus a carried 25% interest through the PFS stage, with Newmont funding all exploration capital.
  • All three Headwater projects partnered with Newmont sit in the Walker Lane, and the CEO says Newmont's global technical experience will help guide targeting on them.
  • Jupiter plans are still emerging, but he says both sides have a high level of interest in moving quickly to a drill stage within the next few months.

Key points on Oceanagold

  • Oceanagold funds three Headwater projects, all in northern Nevada, including the Jake Creek project brought into partnership in October 2025.
  • He says a partner-funded drill program with a couple of rigs was recently underway at Jake Creek, testing larger epithermal targets while also following up on known historic mineralization.
  • He notes historic drilling there, originally aimed at deep Carlin-type gold near the Turquoise Ridge complex of Nevada Gold Mines, cut shallow epithermal gold in volcanic rocks, including intercepts of 47 meters at almost 1 g/t, that was never followed up.
  • He flags Jake Creek drill results as one of the key news items for shareholders to watch during the rest of 2026.

Key points on Centerra Gold Inc

  • Centerra Gold (spoken as "Sentara" in the transcript) signed its earn-in deal with Headwater in December 2025 on the Crane Creek project in Idaho, where a roughly 3,000-meter drill program was underway as of August 2026 — the first drilling there since the 1990s.
  • He says shallow historic holes at Crane Creek returned over 60 meters at well over 1 g/t gold in cases, but averaged less than 100 meters deep, leaving the system largely untested at depth.
  • He argues the property hosts a much larger epithermal gold system than previously recognized, which the Centerra-funded campaign is defining using geophysics, geochemistry and geology.
  • He lists Crane Creek drill results among the main news items shareholders should watch for in the remainder of 2026.

Caleb Stroop's takeaways

  • Top takeaway The Headwater Gold CEO argues the new Jupiter earn-in with Newmont — $10 million US for an initial 51%, an additional $20 million US for 65%, and a PFS for 75% — shows partners can fund Headwater's projects entirely while the company keeps a 2% NSR and a carried 25% interest.
  • He contends both Crane Creek and Jake Creek host much larger epithermal systems than shallow historic drilling recognized, citing intercepts of over 60 meters at well over 1 g/t at Crane Creek and 47 meters at almost 1 g/t at Jake Creek that were never followed up.
  • He describes a portfolio of roughly 12 projects with seven now funded by three majors, and says the 10% operator management fee covers most or all corporate overhead so spending goes to exploration and drilling.
  • He credits a focused Western U.S. strategy and an aligned team that knows the rocks, land situation and permitting for the company's ability to move quickly.
  • He tells investors to watch Jake Creek and Crane Creek drill results and Jupiter's path to drilling over the rest of 2026, saying both sides want Jupiter at a drill stage within a few months.