Goldrich Mining Secures $20 Million for Alaska Gold Operations

Goldrich Mining Company, based in Spokane, Washington, has announced a strategic financing package to raise up to $20 million. The company aims to restart its operations at the Little Squaw Creek placer mine in Alaska. The financing, managed by Castle Placement, LLC, involves a $10 million public offering and $10 million in forward-gold sales.

The public offering will sell up to 200 million common shares at $0.05 each to accredited investors in the U.S., as per Rule 506(b) of Regulation D. The forward-gold sales agreement sets a fixed price of $1,200 per ounce. Goldrich plans to use the funds to resume mining operations in 2025, contingent on completing the financing package.

The company focuses on developing the Chandalar gold district and aims to create significant value from its placer assets. The strategic financing marks a pivotal moment in Goldrich's efforts to capitalize on its extensive land holdings in Alaska.