Nevada King Gold Corp. Holds C$8M in Gold-Backed Securities
Nevada King Gold Corp., an exploration-stage company, has announced its treasury management program. As part of this program, the company purchased C$8M in exchange-traded securities backed by physical gold bullion held by the Royal Canadian Mint.
The securities represent exposure to approximately 1,240oz of gold and were acquired at an average cost of US$4,340 per ounce. According to John Sclodnick, CEO of Nevada King, this new approach to treasury management allows the company to take a longer view on allocating its balance of treasury.
The company expects to hold these securities for at least 12 months and has already funded anticipated expenditures over the next 12 months through interest-bearing operating accounts and short-term investments. As at September 21, 2026, the Company's cash, short term investments, and gold holdings totaled approximately C$16M.