St. James Gold takes on $143K loan to fund Newfoundland gold hunt
What's the deal? St. James GoldDealroom has a profile for this one. Try Dealroom → has closed a US$143,000 loan financing, backed by a promissory note the company issued to the lender. The note carries 10% annual interest, compounded yearly, and matures on December 31, 2027.
Where's the money going? The proceeds will fund general working capital and corporate purposes. Principal and accrued interest are payable at maturity in Canadian currency.
Why now? The company's working capital position sits at roughly $165,065, a thin cushion. To ease pressure, all long-term debtholders — including insiders Nicolas Lin and Logan Anderson — agreed effective June 30, 2026, to extend their indebtedness to June 30, 2027, from an earlier April 30, 2027 deadline.
What's the endgame? St. James Gold, listed on the TSX Venture Exchange as LORD, is developing mineral deposits in Newfoundland's Gander gold district. It holds a 100% stake in 29 claims covering 1,791 acres, adjacent to New Found Gold's Queensway North project.
What's next? The company has started its 2026 exploration program on the Grub Line property, including relogging existing drill core and 3-D modelling to follow up on 2025 work. The effort — led by consultant David Burga of Deptford GeoscienceDealroom has a profile for this one. Try Dealroom → — aims to define drill targets and expand the known gold-mineralized zone, though it will not produce an NI 43-101-compliant resource.
The signal: Small debt raises and repeated debtholder extensions point to a junior explorer managing tight liquidity while it keeps early-stage drilling alive next to a higher-profile neighbour.
Read more: stockwatch.com
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