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Goliath Resources (TSXV: GOT) has amended an existing property option agreement that is in place for its flagship Golddigger property. The amendments will see the fast tracking of Goliath’s ownership in the property, which hosts the high-grade Surebet gold discovery.
The amended arrangement will see Goliath’s ownership expanded from 49% to 100%, while reducing the net smelter returns royalty held by the optioner from 3% to 2%. Other changes include a prior requirement that called for a maiden mineral resource estimate by June 1, 2027, and every three years after. That timeline has now been delayed to June 1, 2030.
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Under the revised option agreement, Goliath will also pay to the optioner US$1 for every gold equivalent ounces of 4.0 million gold equivalent ounces within the resource estimate. The prior agreement had called for US$1.0 million plus US$1 for every equivalent ounces over 2.0 million gold equivalent ounces.
READ: Goliath Resources Hits 19.13 g/t Gold Over 6.10 Metres At Surebet In Final 2025 Gold Assays
Consideration for the changes and the fast tracking of ownership is said to be 3.0 million common shares of Goliath, which are to be issued no later than March 15.
The changes to the option package are notable, given that Stifel earlier this week released a flash note on Goliath, reiterating their buy rating and $5.00 price target while stating that they believe the project holds a 2.4 million ounce resource just within the Bonanza and Surebet zones, while having an exploration target of 4.3 million ounces of gold. That estimate includes a higher grade core at Bonanza, which is estimated to contain ~710,000 ounces of gold at 7.17 g/t.
Goliath Resources last traded at $2.65 on the TSX Venture.
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