U.S. government bank potentially financing Nevada gold mine with US$835M

Pershing County’s Spring Valley project is being developed by the private company Solidus Resources, LLC

Rowan Dunne

Published

9 hours ago

Privately-held Solidus Resources, LLC may soon be receiving a massive capital injection for its Nevada gold mine.

On Tuesday, the company revealed that it had received a letter from the Export-Import Bank of the United States expressing an interest in potentially providing up to US$835 million in financing for its Spring Valley mine site in Pershing County. This bank is essentially a federal agency that helps American businesses sell their products in foreign markets by providing loans and insurance.

Details about the financing conditions were not provided and nothing is definitive at the moment. The White House has recognized gold as a critical mineral since an executive order designating it as such was issued in March.

“We are grateful for the Trump administration’s support of our project,” Chairman and CEO, Isser Elishis, said in a press release. “The significance of this transaction will be far-reaching, boosting domestic non-fuel mineral production, creating thousands of high-paying jobs, increasing significantly both local wages and tax revenues, and enhancing U.S. mining competitiveness.”

Elishis believes that Spring Valley will become the Nevada’s next long-life heap-leach gold production asset alongside operations run by Nevada Gold Mines or Calibre Mining Corp‘s (TSE: CXB) (OTCMKTS: CXBMF) (FRA: WCLA) Pan Mine.

It is safe to assume that the news was well-received by Sailfish Royalty Corp (CVE: FISH) (OTCMKTS: SROYF). This precious metals royalty and streaming company will be retaining a net smelter royalty (NSR) of up to 3 per cent on the mine once it progresses into production in the coming years.

“That should help,” said Akiba Leisman, CEO of Mako Mining Corp (CVE: MKO) (OTCMKTS: MAKOF), in a social media comment directed at Sailfish regarding the potential government funding. Sailfish’s other primary royalty is a 3 per cent NSR on Mako’s San Albino gold mine in Nicaragua.

On Apr. 29, Sailfish said that the Bureau of Land Management was expected to issue a final environmental impact statement on Jul. 11 followed by a record of decision one month later. This will enable Solidus to start construction work on the property in the third quarter of 2025, Sailfish explained.

It’s nice that Solidus has funding interest from a high quality source for more than the initial capital cost indicated by their feasibility study. $FISH.V $OR.TO https://t.co/QgD5RqThyR pic.twitter.com/VZ2LMlt5Pp

— Brown (@BrownMarubozu) May 13, 2025