Banyan Gold Corp. announces $58 million in combined share offerings

Banyan Gold Corp. has announced a plan to raise up to $50 million through a best efforts private placement of up to 25,000,000 shares at $2.00 per share. Canaccord Genuity Corp. will act as the lead agent and sole bookrunner for the offering. Additionally, the company intends to conduct a concurrent non-brokered private placement of up to 4,000,000 shares at $2.00 per share, which could raise an additional $8 million. The net proceeds are intended for the advancement of the company’s projects in Yukon, as well as general corporate and working capital purposes.

In related financial news, analysts have provided updated forecasts for the company. Scotiabank issued an ‘Outperform’ rating with a $3.00 price target, forecasting earnings per share of ($0.02) for fiscal year 2026. Desjardins also set a C$3.00 target price with a ‘buy’ rating. The company currently holds a market capitalization of approximately C$945.39 million.