Eminent Gold Corporation (EMNT:TSXV; EMGDF:OTCQB; 7AB:FSE) announced that mobilization of a reverse circulation (RC) drill rig to its 100%-owned Hot Springs Range Project (HSRP) in Nevada is scheduled for July 6, 2026, with drilling expected to begin immediately afterward.
The program represents the company's previously announced drilling campaign of up to 10,000 meters at HSRP. According to the company, it has been prepared to begin drilling since early April, with drill pads, access roads, and permits already in place. The revised start date reflects the drilling contractor's completion of a prior commitment.
The drilling program will follow up on results from the Otis target, including an intercept of 9.2 meters grading 3.2 grams per tonne gold in hole HSC005. The campaign will also include the first drill test of the Eden target, located at the opposite end of a 10-kilometer structural corridor. The company said Eden is defined by a 3-kilometer-long gold-in-soil anomaly along a major structure that was refined through a recent seismic survey used to help prioritize drill sites.
Planned work includes RC drilling at the Otis target area to follow up on previous high-grade intersections. The company also plans diamond core drilling at Eden, using RC pre-collars through cover before transitioning to core drilling. PhotonAssay analysis will be used, with initial results anticipated within approximately one week per hole. RC holes are expected to take about 48 hours to complete.
"We are pleased to announce a scheduled start to drilling at Hot Springs Range," President and CEO Dan McCoy said in the company's news release. "The company experienced a delay due to increased demand for drill rigs across Nevada, where availability has tightened considerably with the improved gold market."
McCoy added that the company plans to follow up on results at Otis and test additional structural corridors at the project.
Central Banks, Interest Rates, and Sentiment Shape Gold Market
According to a June 15 commentary by Matthew Piepenburg, debate within the gold market continued to center on the future role of gold relative to paper currencies. Piepenburg wrote that "the seemingly eternal debate, discussion, understanding, and hence foreshadowing of where gold is heading (or not heading) depends entirely upon what one thinks of the future of well, money itself." He described two competing views of the market, with one focused on confidence in the U.S. dollar and another centered on gold as a monetary asset.
Piepenburg also pointed to central bank activity, writing that "since as early as 2014, the world began net-dumping USTs and net-buying physical gold," and that "since that watershed moment, central bank gold purchasing has increased by 5X." He further stated that "today, central banks now hold more physical gold than USTs," describing the trend as part of a broader discussion around the future of money and reserve assets.
Also on June 15, Couloir Capital reported that precious metals finished the week mixed. The firm stated that "gold prices fell 2.5% during the week as easing geopolitical tensions, particularly progress toward a U.S.-Iran nuclear agreement, reduced safe-haven demand." Couloir Capital added that stronger-than-expected U.S. economic data and rising Treasury yields weighed on investment demand for precious metals during the period.
Despite gold's decline, Couloir Capital noted that "silver edged higher 0.2% during the week" and said the metal's industrial demand profile attracted investors amid improving global growth sentiment. The report also stated that palladium gained during the week, while platinum declined as rising Treasury yields and profit-taking outweighed support from industrial demand.
Bloomberg reported on June 13 that investors continued to assess the role of gold and gold equities during a period of heightened market volatility. The publication wrote that bullion prices and related shares had previously "started trading like meme stocks and surged to records," prompting some portfolio managers to reduce exposure after substantial gains.
Bloomberg quoted Brian Laks, chief investment officer at Old West Investment Management, who said, "Gold's not the same trade that it was 10 years ago." The report noted that a NYSE gauge of gold miners had fallen 31% since the end of February, while broader equity markets posted gains over the same period.
The Bloomberg report also highlighted the sensitivity of gold to macroeconomic conditions, stating that the metal's value remained "highly sensitive to investor sentiment and macro-economic factors such as interest rates and inflation expectations." Chris Mancini, associate portfolio manager at Gabelli Gold Fund, told Bloomberg, "At this point in time, it's being used more as an instrument for speculators to bet on short-term moves in interest rates."
At the same time, Bloomberg noted that central bank demand remained part of the broader gold narrative. The publication wrote that gold's rally in 2025 had been "buoyed by a weak dollar and increased demand from central banks around the world." Derek Benedet, a portfolio manager cited by Bloomberg, said, "To be interested in gold right now, you have to have a bit of contrarian-leaning."
Streetwise Ownership Overview*
Eminent Gold Corporation (EMNT:TSXV; EMGDF:OTCQB; 7AB:FSE)
| Strike Price | Number | Expiry Date |
|---|---|---|
| $0.5 | 164,000 | 07/25/26 |
| $0.55 | 4,511,746 | 08/30/26 |
| $0.5 | 1,921,875 | 09/29/26 |
| $0.55 | 4,511,746 | 10/15/26 |
| $0.7 | 1,975,043 | 05/02/27 |
| $1.5 | 3,787,118 | 05/02/27 |
| $1.5 | 3,787,118 | 05/02/27 |
| Date | Old Symbol | Old Shares | New Symbol | New Shares |
|---|---|---|---|---|
| 02/10/21 | NVY | 1 | EMNT | 1 |
Across the sources, commentary focused on the interaction between monetary policy, interest rates, investor sentiment, central bank purchasing activity, and geopolitical developments, all of which continued to shape conditions within the precious metals sector.
Exploration Activities Planned Across Nevada Projects
The Hot Springs Range Project remains the primary focus of the company's 2026 exploration activities. The June 2026 corporate presentation outlines continued work at both the Otis and Eden target areas following the start of drilling at HSRP.
At Otis, the company outlined RC drilling designed to include step-out holes and testing of additional structures. The presentation also references follow-up seismic work intended to define deeper structures within the target area. A VTEM study is also planned at HSRP to further define drill targets.
At Eden, the company outlined seismic surveying intended to sharpen drill targeting at depth. The presentation also describes RC and core drilling designed to test a 3-kilometer anomalous structural trend. Eden is described as a permitted target where drilling is planned following work at Otis.
The presentation identifies approximately 10 kilometers of prospective corridors at HSRP, including the 6-kilometer Otis corridor and the 4-kilometer Eden corridor. At Eden, the company reported a 3-kilometer gold-in-soil anomaly associated with major fault structures. At Otis, planned drilling is intended to follow up on the previously reported 9.2-meter intercept grading 3.2 grams per tonne gold.
Beyond HSRP, the company outlined additional work at its Celts Project. The presentation states that additional geophysical surveys are planned to refine drill targeting, followed by planning and launch of a maiden drill program at Celts during 2026. The project is described in the presentation as permitted for drilling.
The company also stated in its news release that drilling at Hot Springs Range is commencing first, with the Celts project scheduled to follow later in 2026.
Ownership and Share Structure1
18.35% of Eminent Gold is held by management and insiders. Among them, Justin Milliard, VP of Exploration, holds the largest position at 9.59%, and Michael Kosowan holds 6.5%. Kinross Gold Corp. (K:TSX; KGC:NYSE) is a strategic investor with a 13.8% position. The remainder is held by retail shareholders.
Eminent Gold has 82.26 million outstanding shares, 34.59 million free float shares, and a market capitalization of CA$48.5 million. Its 52-week range is CA$0.28 to CA$0.87.
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Important Disclosures:
- Eminent Gold is a billboard sponsor of Streetwise Reports and pays SWR a monthly sponsorship fee between US$3,000 and US$6,000.
- As of the date of this article, officers, contractors, shareholders, and/or employees of Streetwise Reports LLC (including members of their household) own securities of Eminent Gold.
- James Guttman wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
- This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.
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1. Ownership and Share Structure Information
The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.
