Riversgold lodged the Mine Development and Closure Proposal for its Northern Zone open pit with Western Australia's Department of Mines, Petroleum and Exploration on September 30, the last major approval needed before mining can begin. Mining Lease M25/389 (21 years) was granted in July, the Native Vegetation Clearing Permit was lodged on August 28, and objections to haul road licences L25/75 and L25/77 have been resolved, with formal grants pending. The Right to Mine and Co-operation Agreement with MEGA Resources was extended to September 30, 2027. MEGA will fund 100% of mining costs in exchange for a 50/50 profit share, so Riversgold does not need to contribute upfront development capital. Separately, earn-in partner A.I.S. Resources completed the maiden Phase 1 drilling at the Saint John project in New Brunswick, with assays pending, and sampling has begun at Tambourah.
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XAU/USD
• NeutralRelevance: low
| Market | Gold |
|---|---|
| Close on 10/30/2026 | 3,875.51 |
| Change that session | -3.63% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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