Headwater Gold Inc.
Headwater Gold is a portfolio/prospect-generator with 7 Nevada + 3 Idaho gold properties and no resource estimate on any of them; most advanced are Crane Creek (Idaho) and Hot Creek/TJ/Jake Creek (Nevada). Partners include Newmont, OceanaGold, and Centerra Gold (which holds a 9.99% equity stake). Price shows a date inconsistency across sources (CAD $0.44-0.47), flagged; cash is left unstated as the most recent confident figure found is over a year stale; debt not confidently sourced.
Lifecycle Milestones
A relative ranking of how closely this company matches the profile of juniors that have actually been acquired — not a probability, and not a reason to buy. Acquisitions are rare: only a few dozen significant deals happen a year across a universe of thousands of juniors, so even a high score here describes a long shot. The strongest signal the underlying research identifies — whether a major already holds a JV, earn-in, or 5–19.9% strategic stake — isn't tracked yet and is absent from this score.
Trend data collecting — check back after a few more refreshes.
Your Rankings
Headwater Gold Inc. generates and stakes exploration projects, then brings in joint-venture partners to fund the drilling in exchange for Headwater retaining a carried interest, royalty, or reduced equity stake — spreading exposure across multiple projects while avoiding the shareholder dilution a self-funded drill program requires. The projects below are the company's own designated material/flagship JVs; only figures the company has actually disclosed are shown, nothing here is estimated.
| Project | Commodity | JV Partner | Retained | Partner Earn-In | Committed Spend | Spend Active | Stage |
|---|---|---|---|---|---|---|---|
Jupiter USA (Nevada) Newmont has the right to acquire up to 75% of Headwater's 100%-owned Jupiter district-scale epithermal gold project (southern Walker Lane belt, Nevada) through staged exploration expenditure and technical milestones, with a US$2.5M firm minimum in the first 24 months. | Gold | Newmont Corporation Major | — | up to 75% | $2.5MUS$2.5M firm minimum over 24 months; Newmont can earn an initial 51% by funding US$10M within 48 months, then a further 14% (to 75%) by funding an additional US$20M within 36 months. | Active | Grassroots Exploration |
Spring Peak USA (Nevada) Newmont completed Stage 1 of its earn-in and formalized a definitive project-level joint venture on Spring Peak in August 2026. Precise post-Stage-1 ownership split not confirmed from public sources reviewed as of this research pass. | Gold | Newmont Corporation Major | — | — | — | Active | Grassroots Exploration |
TJ / Jake Creek / Hot Creek (OceanaGold JV) USA (Nevada) OceanaGold holds staged earn-in agreements on three separate Headwater-generated Nevada gold projects (TJ, Jake Creek, Hot Creek), bundled here as one row since all three share the same disclosed deal structure: up to US$65M aggregate exploration spend for 65% interest in each, plus a further 10% (to 75% total per project) upon completion of a PFS and a 1% NSR royalty to Headwater. US$2.5M firm minimum aggregate spend across the three in the first 24 months. | Gold | OceanaGold Corporation Mid-tier | — | up to 75% | $65MUp to US$65M aggregate across all 3 projects for 65%; a further 10% (to 75% total, per project) upon a PFS plus a 1% NSR royalty to Headwater; US$2.5M firm minimum aggregate spend in the first 24 months. | Active | Grassroots Exploration |
Crane Creek USA (Idaho) Centerra Gold can earn up to 70% of the Crane Creek gold project, Idaho, in three stages: 51% for US$10M within 4 years (US$2.5M minimum in first 3 years); a further 9% (to 60%) for an additional US$25M plus a royalty to Headwater; a final 10% (to 70%) via a PEA including a minimum 1Moz gold-equivalent resource, within 2 years of Stage 2. Plus a US$87,000 initial cash payment and US$50,000 annual payments from the first anniversary. | Gold | Centerra Gold Inc. Mid-tier | — | up to 70% | $25MStaged: 51% for US$10M within 4 years (US$2.5M minimum in first 3 years); +9% (to 60%) for a further US$25M plus a royalty; +10% (to 70%) via a PEA with a minimum 1Moz Au-eq resource, within 2 years of Stage 2. | Active | Grassroots Exploration |
Lodestar USA (Nevada) Second Headwater-Newmont project (before Spring Peak was formalized as a definitive JV and Jupiter was added). Approximately 2,950m of drilling outlined the 600m x 700m Meridian alteration zone, though no comparable gold intercept to Spring Peak's has been reported. Current spend-active status not confirmed from public sources reviewed as of this research pass -- left null rather than assumed. | Gold | Newmont Corporation Major | — | — | — | Not yet researched | Grassroots Exploration |
Management Team
President and CEO of Headwater Gold Inc.; President and Director since May 2019, CEO since March 2021. (BSc, MSc Geology) Geologist with 15+ years' experience exploring for gold, base metals, and geothermal resources; previously Senior Geologist at Kinross Gold focused on Nevada greenfields projects.
Chief Financial Officer of International Tower Hill Mines.
Insiders, Investors & Smart Money
Notable shareholders and insiders whose involvement is worth knowing about, plus what we're seeing from institutional/large-investor activity.
Two directors have been buying repeatedly on the open market since February 2026. A single institution holds about 14% of the company and a separate entity crosses the 10% ownership threshold, but neither is named by our data source, so neither is credited here.
No notable insiders tracked for this miner yet.
Reports, Presentations & Documents
We haven't parsed this company's PEA/PFS/FS recommendations yet — cut-off grade, mine life, DCF/NPV, and the report's own next-steps guidance are a planned research pass, not live data for every company yet.