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North Bay Resources Inc. (OTC: NBRI) Stock Surges 11% After Acquiring 70% Interest in the Bishop Gold Mill

Mark Mckelvie

Companies involved in the gold exploration space have garnered considerable interest in recent times, and this morning it may be North Bay Resources Inc. (OTC: NBRI) that could be worth tracking. The company hit the news cycle yesterday after it made an announcement with regards to a key new acquisition. In this feature we will take a closer look into it.

Key Acquisition

The company announced that it inked a share purchase agreement with regards to a further 14.5% acquisition of Bishop Gold Mill. Thanks to the latest agreement, the company’s ownership of the Bishop Gold Mill went up to as much as 70%. In this context, it should be noted that due to the deal, North Bay Resources became a major shareholder in a mill churning out 96 tons per day of ore. The mill is situated in Bishop, California.

Further Information

In the news release, North Bay Resources also announced that it had also completed the acquisition and installation of gold extraction equipment on the basis of a metallurgical study conducted in December 2024. Following the completion of the transaction, North Bay Resources would remain the main operator of the mill. It remains to be seen how the stock performs today.