History
Star Gold spent years building toward full ownership of its Longstreet gold-silver project in Nevada, funding it through small dilutive raisings before a $3.68 million financing in 2026.
2008-2011: First Nevada projects
Star Gold, then called Elan Development, began in April 2008 by agreeing to buy MinQuest's 8-claim Excalibur property in Mineral County, Nevada. If it failed to make the required payments, it would lose all its rights and the payments already made. In January 2010 the company optioned a second, larger MinQuest property, the 60-claim Longstreet project near Tonopah. Over seven years it had to pay $250,000 and spend $3.55 million on exploration to earn 100%, less a 3% royalty to MinQuest.
2012-2019: Restatement and small raisings
In January 2012 the company restated its FY2010 and first-quarter FY2011 accounts after finding it had wrongly handled how it recorded lease and option payments on the Excalibur, Longstreet and Jet properties since 2008. This was an accounting correction, not a change to the assets. In February 2012 it launched a $1.5 million convertible debenture program, 5% notes that could convert to shares at $0.10, with warrants attached. By mid-February $900,000 was placed. Shares on issue stood at 35,036,326 at the end of 2013 and rose to 77,394,841 by the end of 2018, though the beats do not explain each step. In August 2019 the company struck a deal with Great Basin Resources, now holding the underlying option, to take title to Longstreet with no further required spending. It repriced existing options, issued new ones, paid $50,000 and agreed an 18-month consulting contract. It kept an option to buy back half the 3% royalty for $1.75 million once ore sales begin.
2020-2026: Clear title and a larger raise
In September 2020 Great Basin quitclaimed 120 unpatented mining claims to Star Gold after a $30,000 payment, giving it clear ownership of Longstreet. The record is then quiet until 2026, and it is not confirmed whether that reflects a quiet period or a gap in the records. In March 2026 the company raised $3.68 million, by far its largest financing, combining new capital with debt conversion at $0.04 per unit. Insiders, including the CFO and all three board members, took part. As of March 2026, Star Gold owned Longstreet outright and was pushing it toward permitting.
Written from the 7 story beats below (2008 to 4 Mar 2026), which come from the company's own announcements and filings.