(Kitco News) - Borealis Mining, an emerging gold producer in Nevada, is setting its sights on strategic expansion after a successful initial public offering (IPO). CEO Kelly Malcolm discussed the company's growth strategy at the 2025 Mines Money Conference in Miami.
"It was transformational," Malcolm said of 2024. "We raised a lot of capital with some great shareholders... gold magically... started moving up in the right direction".
Borealis is focused on acquiring undervalued assets in Nevada and the surrounding states to create a larger, more financeable entity. Malcolm told Kitco Mining the acquisition of Gold Bull Resources as a prime example of this strategy: "That was trading for $5 million, and the asset is spectacular."
The company is gearing up to resume production at its fully permitted Borealis mine. A key step involves a stockpile crushing exercise to extract gold from 330,000 tons of oxide ore.
Looking ahead, Borealis aims to become a mid-tier miner producing 100,000-150,000 ounces per annum within five years. This growth will be achieved through a combination of strategic mergers and acquisitions (M&A) and drilling.
Malcolm believes that a fresh, enthusiastic approach has been an advantage for Borealis Mining. "Optimism and enthusiasm is contagious," he said.
Borealis is primarily focused on Nevada due to the synergies and simplicity it offers. Malcolm noted, "Nevada and maybe the surrounding states would be the place that, that we are looking."
Borealis Mining's strategy is in part consolidating underappreciated assets, combined with its focus on resuming production and strategic expansion. "We intend to continue consolidation," said Malcolm. "Consolidation is very important largely because it puts together a number of different assets that are not necessarily financeable on their own."
Special thanks to our sponsor, Goldshore Resources, for making this coverage possible. Visit https://goldshoreresources.com/ to learn more.
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