ESGold Corp. (ESAU:CSE; ESAUF:OTCQB; Z7D:FSE) announced on May 26, 2026, that it has entered into a definitive gold and silver doré purchase agreement with Ocean Partners UK Ltd — a renowned metals trading, technical advisory, and mine financing group serving the international mining and smelting industries.
Highlights of the agreement include:
- Definitive and binding gold and silver doré purchase agreement executed with Ocean Partners, a leading global metals trading and mining finance group.
- Ocean Partners to purchase 100% of doré production from the Montauban Project's tailings and crown pillar material.
- The Agreement provides ESGold with access to a working capital facility of up to C$9 million, available in two tranches: a first tranche of C$3 million and a second tranche of C$6 million, subject to satisfaction of applicable conditions precedent.
- ESGold retains strategic flexibility regarding timing and use of the Facility.
- Agreement further strengthens and de-risks ESGold's transition toward anticipated production.
The agreement establishes Ocean Partners as the producer of gold and silver doré produced from ESGold's Montauban project in Québec, providing ESGold a working capital of C$9 million in an initial tranche of CA$3 million and a secondary tranche of CA$6 million. The press release said, "Each drawn tranche is subject to a 1% arrangement fee and bears interest at three-month Term SOFR plus 7.00% per annum until repaid, with overdue amounts bearing interest at three-month Term SOFR plus 11.00% per annum. Principal and interest are repayable through deliveries of doré to Ocean Partners, by cash repayment, or a combination of both, with early repayment permitted subject to a 1% repayment fee."
Ocean Partners will purchase 100% of the gold and silver doré produced from ESGold's Montauban Project derived from tailings and potential crown pillar material, with minimum delivery commitments totaling 50,000 ounces of gold and 1,000,000 ounces of silver. Pricing under the Agreement is based on prevailing LBMA or COMEX market prices, with Ocean Partners paying for 99.8% of contained gold and 99% of contained silver, subject to standard refining charges of US$0.80 per payable ounce of gold and US$0.50 per payable ounce of silver.
Gordon Robb, ESGold's CEO, said in the release: "The agreement with Ocean Partners marks another major milestone in ESGold's evolution from development company to near-term producer. Ocean Partners is an internationally respected organization with extensive experience across metals trading, mine finance, and global mining operations. Securing a definitive agreement with a group of this caliber significantly strengthens our production strategy and validates the progress our team has made behind the scenes. What is particularly exciting is the stage we are now entering as a company. While we continue advancing mill construction and infrastructure toward production, we are simultaneously conducting modern exploration and geological investigation at Montauban. We are systematically and methodically advancing both sides of the production and exploration story of ESGold at the same time."
ESGold Corp. is a pre-production mining company focused on metals exploration across North and South America, with its flagship Montauban project located in Canada.
Gold Stays Steady Despite War
As of the morning of May 26, gold prices had fallen 0.7% to US$4,547.10 per ounce, though gold futures for June remained unchanged at US$4.536.80. American strikes on Iranian territory are partially responsible for the slight decline of this safe-haven asset, pushing Brent crude oil prices higher and spiking inflation worries over U.S. interest rates. An end to the Iran-U.S. conflict would be welcome news for investors who have been watching the market bounce up and down for the first few months of 2026, but the market seems resilient.
In April, S&P Global wrote, "Gold is expected to remain volatile but structurally supported, with central bank demand and geopolitical risk helping to establish a price floor above recent correction lows."
Despite the volatility of gold, the sector as a whole is only showing signs of improvement. On May 7, 2026, Brian Taylor of Recycling Today said that the World Bank Group has predicted that overall global metals prices will rise by 17% in 2026, which would mark the first overall market increase since 2022.
Announcement "Significantly Strengthens" Company, Experts Say
On May 26, 2026, Riley Venton and Ben Pirie of Atrium Research reiterated their "Buy" rating and target price of CA$1.30 for ESGold. The pair referenced the agreement announcement, writing, "We view the Ocean Partners agreement as a positive step for ESGold as it moves toward first production at Montauban. The agreement secures a buyer for all gold and silver doré, while the optional working capital facility provides added nondilutive flexibility through construction, commissioning, and the initial production ramp-up."
On the same day, Peter Krauth and Ted Butler of The Gold Advisor weighed in, arguing that ". . . the agreement significantly strengthens the company’s financial and operational position while construction, exploration, and development activities continue advancing in parallel at the Montauban Project." The pair went on to write: "With this purchase agreement, infrastructure advancing, drilling on the horizon, and geological understanding continuing to improve, the company is positioning itself for both exciting near-term production catalysts and significant long-term exploration potential across the broader Montauban Project."
Streetwise Ownership Overview*
ESGold Corp. (ESAU:CSE;ESAUF:OTCQB; Z7D:FSE)
| Date | Old Symbol | Old Shares | New Symbol | New Shares |
|---|---|---|---|---|
| 09/15/23 | ESAU | 10 | ESAU | 1 |
| 07/14/22 | SEK | 1 | ESAU | 1 |
| 05/07/18 | SEK | 10 | SEK | 1 |
| 12/24/12 | SEK | 10 | SEK | 1 |
| 12/21/09 | NUC | 1 | SEK | 1 |
Next Steps Underway
In the release, Robb spoke of the company's future plans, saying, "With the expanded ANT survey underway, drilling preparations advancing, production equipment continuing to arrive on site, and a comprehensive district-scale geological model continuing to evolve."
The release listed the next steps as follows:
- Field collection for the expanded 70 km² district-scale ambient noise tomography (ANT) survey has now been completed, with geophone pods removed and data analysis and interpretation now underway as part of the company's evolving 3D geological model.
- The company is anticipating receipt of drill permits in the near term, with systematic crown pillar definition drilling and targeted step out drilling expected to commence shortly thereafter to evaluate extensions of mineralization at depth and along strike. Any potential extraction of crown pillar material remains subject to technical evaluation, permitting, engineering review, and, where applicable, additional drilling and economic assessment.
- Deliveries of key mill circuit components and supporting infrastructure equipment are ongoing at the Montauban Project site.
- ESGold is integrating the expanded ANT dataset with historical drilling, prior ANT interpretations, and historical SOQUEM data to refine its district-scale geological model and guide future drilling and exploration targeting.
ESGold's investor presentation lists construction and commissioning updates and processing throughput results as near-term focuses. The company expects first gold production to take place in 2026, with step-out diamond drilling expected in the first half of the year. ESGold has exploration and expansion updates planned into 2027.
The company's Montuban project is fully permitted and funded, and the mill building has been completed, setting up the company for near-term cash flow.
Ownership & Share Information1
ESGold Corp. has a market cap of CA$69 million, with 91.44 million shares outstanding. The company's 52-week range is CA$0.19-CA$1.44.
Institutions own 5% of shares, while Management & Insiders own 60%. The remaining 35% of shares are held by Retail.
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Important Disclosures:
- ESGold Corp. is a billboard sponsor of Streetwise Reports and pays SWR a monthly sponsorship fee between US$3,000 and US$6,000.
- Cori Fisher wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
- This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.
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1. Ownership and Share Structure Information
The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.
