Liberty Gold Corp.
Liberty Gold's 100%-owned Black Pine Oxide Gold Project in southern Idaho holds 4.93M oz of indicated and 1.0M oz of inferred gold resources (April 2026 estimate in its September 2026 Feasibility Study). Its September 2026 Feasibility Study outlines a US$2.4B after-tax NPV5 and a 60.5% after-tax IRR at US$3,250/oz gold, on US$411M of initial capital and a 16-year mine life (superseding the October 2024 PFS: US$552M after-tax NPV5 and a 32% IRR at US$2,000/oz). The company is advancing federal permitting (a NEPA Notice of Intent was published April 2026), partly funded by the March 2026 US$72.5M sale of its non-core Goldstrike project (Utah) to Heliostar Metals.
Lifecycle Milestones
Not in place: mill, tailings facility.
Jurisdiction (40%)9/10
Idaho: Fraser PPI 2025 is 77.16 of 100 (rank 27 of 68), which maps to 9 on this site's scale. Idaho, USA is a top-tier, low-political-risk mining jurisdiction; the main uncertainty is federal (BLM/NEPA) permitting timeline, not sovereign risk.
Infrastructure (40%)5.7/10
No confirmed mill, confirmed road access, confirmed grid power, and no confirmed tailings facility at Black Pine Oxide Gold Project, Idaho.
Nearby producing mine (20%)Not yet researched
No producing mine within 50 km in our reference list (nearest listed: Bingham Canyon (Rio Tinto Kennecott), 186 km). That list doesn't cover every mining district yet, so a longer distance isn't scored as remote.
Acquisition Susceptibility
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 in the research, a producer that already owns part of the company, is scored from its disclosed strategic shareholders. A producer that is a joint-venture or earn-in partner on the project, rather than a shareholder, isn't captured yet.
How this score is built
- Disclosed pending dealSub-score: Not scored
No pending acquisition or merger disclosed (checked)
Not scored: having no deal in flight isn't held against a company.
Weight 26.25% - Producer's strategic stakeSub-score:8.7/10
Centerra Gold Inc. holds 9.9% (reported 30 Sep 2025) See holders
An operating producer's stake scores 8 at 5%, rising to 10 at 20% (the take-over-bid threshold) and holding there up to 50%.
Weight 25% · 34% here - Distance to a producing mineSub-score:0.5/10
Nearest producing mine: Bingham Canyon (Rio Tinto Kennecott), 186 km
10 next to a producing mine, 8 at 20 km, 5 at 50 km, 0 beyond 200 km.
Weight 22.5% · 31% here - Lifecycle stageSub-score:10/10
Stage: Feasibility Study
Feasibility and permitting score 10, where deals cluster, and production 5.5; earlier stages score less, down to 1 at grassroots.
Weight 15% · 20% here - JurisdictionSub-score:9/10
United States: jurisdiction score 9/10
Our jurisdiction score, used as is: higher means lower political and permitting risk.
Weight 6.75% · 9% here - CommoditySub-score:10/10
Primary commodity: Gold
Gold 10, copper 8, silver 5, nickel and uranium 4, others 2: most majors' deals are for gold.
Weight 4.5% · 6% here
Weight is each input's share of the full score. “Here” is its share of this company's score: inputs that aren't scored are left out and the rest re-weighted, never counted as zero.
Your Rankings
Management Team
President, CEO and Director of Liberty Gold Corp. Senior mining executive with 35+ years across technical services, capital projects and open pit operations; previously senior roles at Torex Gold Resources, SSR Mining and BHP.
Chief Financial Officer and Corporate Secretary of Liberty Gold Corp. Chartered Accountant with 10+ years of accounting and financial reporting experience; previously Corporate Controller at Liberty Gold since 2011.
Senior Vice President, Corporate Development at Liberty Gold Corp. 20+ years in mining spanning investment banking and M&A advisory. MBA, CFA Charterholder and CPA.
VP Exploration and President of Liberty Gold (USA) Inc. Utah native with 25+ years of mineral exploration experience in the Great Basin, managing advancement of the Black Pine Project.
Vice President, Project Development at Liberty Gold Corp. 20 years of combined mining and construction experience, with key positions at Kinross, Evolution Mining and Worley and gold heap-leach expertise.
Vice President, Human Resources at Liberty Gold Corp. 20+ years leading HR across mining, utilities and industrial sectors in North America, Africa and Latin America.
VP Permitting and External Affairs at Liberty Gold Corp. 30+ years of mine permitting, compliance and reclamation experience across western US locations. US Air Force veteran.
VP Investor Relations & Corporate Communications at Liberty Gold Corp. 20+ years of capital markets experience in mining across multiple jurisdictions.
Insiders, Investors & Smart Money
Notable shareholders and insiders whose involvement is worth knowing about, plus what we're seeing from institutional/large-investor activity.
Centerra Gold, a genuine mid-tier gold producer, made a real cash strategic investment for 9.9% of Liberty Gold in September 2025 (C$28.0 million), with board representation and financing-participation rights, and has since made further top-up investments to defend that stake through subsequent dilution. Several small gold-sector specialist funds (ASA Gold & Precious Metals, Franklin Gold and Precious Metals Fund, VanEck's active gold funds) each hold low single-digit stakes, none reaching a scoreable specialist threshold on their own. No qualifying open-market insider buying or clean institutional-ownership aggregate was found.
No notable insiders tracked for this miner yet.
Reports, Presentations & Documents
Liberty Gold is advancing its 100%-owned Black Pine oxide gold project in southern Idaho, planned as an open-pit, run-of-mine heap-leach operation. The April 2026 resource used in the feasibility study is 4,927,000 oz of indicated gold, with no measured category, plus 996,000 oz inferred, and the study declared a probable reserve of 4.04 Moz (433.3 Mt at 0.29 g/t). The September 2026 feasibility study shows an after-tax NPV5% of US$2.397B and a 60.5% IRR at US$3,250/oz gold, with initial capital of US$411.4M, a 16-year mine life and an all-in sustaining cost of US$1,566/oz, superseding the October 2024 pre-feasibility study. Federal permitting is under way after a NEPA notice of intent was published in April 2026, partly funded by the US$72.5M sale of the non-core Goldstrike project in Utah to Heliostar Metals in March 2026.
Statement of Financial Position (expressed in USD): liabilities consist of accounts payable/accrued, decommissioning liabilities (Note 10), current income taxes payable, and lease liabilities only. No loans, notes payable, or borrowings line anywhere on the balance sheet.