Founders Metals Inc. Increases Antino Gold Project Ownership to 70% Amid Strategic Expansion
- Founders Metals Inc. increased its ownership of the Antino Gold Project to 70% by completing Stage 2 of its Option Agreement.
- The company invested $1.5 million and $10 million in exploration, alongside issuing 95,000 shares for this ownership increase.
- Founders Metals plans a Stage 3 acquisition to potentially increase ownership by an additional 5% with further investments.
Founders Metals Secures Increased Ownership in Antino Gold Project
Founders Metals Inc. has successfully completed all requirements for Stage 2 of its Option Agreement with Lawa Gold N.V. and Nana Resources N.V., effectively increasing its ownership stake in the Antino Gold Project to 70%. This significant milestone, announced on June 16, 2025, represents a critical derisking step for the company, emphasizing its commitment to the project's vast potential. The Antino Gold Project, located in Suriname, spans approximately 20,000 hectares and has a history of producing over 500,000 ounces of gold. This development not only enhances Founders’ standing in the region but also reinforces its strategy of expanding its resource base in a highly prospective area.
The completion of Stage 2 required Founders to pay an additional $1.5 million and invest $10 million in exploration activities, alongside issuing 95,000 common shares. This follows the initial Stage 1 acquisition, where the company secured 51% ownership through cash payments totaling $1.65 million, exploration expenditures of $6 million, and the issuance of 1,615,000 shares. Founders' President and CEO, Colin Padget, expresses enthusiasm about the advancement, indicating that a comprehensive update regarding major exploration targets will be forthcoming. The successful execution of these stages not only reflects Founders' confidence in the Antino project but also positions the company favorably as it navigates the intricacies of gold exploration and production.
Looking ahead, Founders Metals retains the option to pursue a Stage 3 acquisition, which could increase its ownership by an additional 5%. This next stage requires a further investment of at least $10 million in exploration costs and the completion of a bankable feasibility study. As the company continues to explore and develop its assets, it is fully financed for an ambitious drilling program that encompasses up to 60,000 meters, aimed at unlocking the full potential of the Antino Gold Project.
In addition to this pivotal milestone, Founders Metals is actively engaging with stakeholders to ensure the project's successful advancement. The management team's strategic vision and operational transparency are crucial as they work to maximize the value of their holdings in this promising gold region. The company’s commitment to rigorous exploration and development practices underscores its long-term aspirations in the gold sector.
