Placer Gold Production – Nome, Alaska
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Tina Vital | Managing Director
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(917) 432-8474
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OVERVIEW
OceangoldUS is seeking +/-$18.85 million to purchase high-capacity equipment to produce placer gold offshore Nome, Alaska.
- Scalable with upside potential – 27 offshore leases across 18,517 acres, offshore Nome in the Bering Sea; estimated ~235,304 troy ounces of indicated and inferred placer gold resources (blocked resource estimated ~250,000 troy ounces with potential endowment estimated ~6.9 million troy ounces)
- Well-known Nome placer gold assets with long operating histories; strong gold recovery rates estimated expected to expand placer gold production to +/-10,000 troy ounces per season (about June – November); long life potential (management estimates over 15 years)
- Low-cost-simple extraction methods (no deep mining required) of placer gold deposits in shallow waters of Bering Sea; permits and licenses in-place
- Roads and power available; public airport located 4 kilometers from town; Port of Nome supports freight and cruise ships (undergoing $500 million expansion)
- Management and engineering team has extensive experience in offshore minerals exploration, development and production, marine construction, and environmental and safety practices
GLOBAL GOLD DEMAND
Gold’s diversity of demand and self-balancing nature underpin its robust qualities as an investment asset; global demand was reached 5,000 tonnes at year-end 2025 and continued to be strong and relatively inelastic – driven by key end-markets:
- Jewelry manufacturing (33% of demand, as of year-end 2025)
- gold is the metal of choice, even in the face of substitutes such as platinum, silver, and copper
- Technology – electronics, medical, other (6%)
- gold has become a necessity in the high-tech industry; gold has many favorable elemental properties (malleability, ductility, non-corrosiveness, reflectivity, and conductibility) – there are no good substitutes in many applications
- Institutional Investment & Central banks (61%)
- gold demand is strong and expanding with recession-afflicted investors looking to grow their savings by investing in non-perishable metals
GLOBAL GOLD SUPPLY
- Top 10 gold-producing countries accounted for over 40% of the world’s output (US ranked fifth with over 3% of global gold production)
- Mine production accounts for the largest part of global gold supply (71% of supply, as of year-end 2025)
- However, demand requires more gold than is newly mined and the shortfall is made up from recycling (27%); net producer hedging accounted for the remaining (2%)
OPPORTUNITY – PLACER GOLD
Gold mines are classified as either placer or lode (hard rock) depending on where the gold is found and how it got there! Gold forms in a rock (lode deposit) but the rock erodes over millions of years – then the gold gets washed into rivers (placer deposit)
- Mine production has expanded significantly since 2008, although substantial new discoveries are rare
- gold mining and mine production does not respond quickly to prices
- development and mine lifecycle is long
- Lode gold mines – ‘source’ gold still embedded in the rock (usually quartz veins or throughout ore bodies)
- methods include drilling and blasting, crushing and milling, chemical extraction (e.g. cyanide leaching)
- support large industrial mines; most of the world’s gold from lode mines
- Placer gold mines – ‘easy’ gold that already freed from the rock (alluvial deposits such as riverbeds, stream banks, desert washes, and beach sands)
- simple methods include gold panning, sluice boxes, and suction dredging
- small-to-medium mines (individuals, family run businesses); for example, the California Gold Rush
- Placer characteristics
- grades are not uniform (unlike hard-rock mines); placers have pay streaks (very high grade), therefore, reported mine grades often understate peak gold concentration
- highest grades usually in small zones which can exceed 10-100 gram/tonne
OPPORTUNITY – ALASKA
Alaska has dominated US placer gold production – richest districts include Valdez Creek, Nome, Fairbanks, and Yukon River – roughly 150 placer operations are active (on-going or permitting).
- Valdez Creek (Danali, Alaska) – largest high-grade placer in North America
- thick pay gravels and consistent grade over large volumes
- Nome District (Nome, Alaska) – most continuously active US placer since 1899
- gold is mined from beaches and offshore seabed (via suction dredges and barges)
- popularized by TV show – Bering Sea Gold – https://www.discovery.com/shows/bering-sea-gold
- Fairbanks District (Fairbanks, Alaska) – produced over 8 million ounces of gold (placer and lode)
- medium-scale commercial mines and family-run placer operations
- Yukon River (interior Alaska) – Alaska’s oldest placer regions (e.g. Fortymile, Circle, Iditarod areas)
- active independent miners; small-to-medium scale, but consistent production/span>
OFFSHORE PLACER GOLD – NOME, ALASKA
Offshore gold resources at Nome, Alaska is estimated at over 4 million ounces from research by the US government and private companies over the years.
- Nome is located 545 miles northwest of Anchorage; 100 kilometers south of the Arctic Circle
- Seasonal working days 150 days per year (June – November); sea is covered by ice the remaining seven months
- Drill results from 3,500 samples studied by geology companies, such as the Alaska Earth Sciences (AES), classifies the area around Nome as a world-class gold deposit; near shore and surf zone are highly concentrated
NOME PLACER GOLD MINING – HISTORY
- Historical placer (beach, creek and offshore) gold production over 4.5 million troy ounces since 1898 – dominated by marine beach placers (no deep mining required)
SOLUTION / STRATEGY
OceangoldUS plans to produce and further develop placer gold offshore Nome, Alaska.
- Well-known placer gold assets with long operating histories – 27 offshore leases across 18,517 acres; long life potential of over 15 years – estimated 235,304 troy ounces of indicated and inferred placer gold resources (entire blocked resource totaled 250,000 troy ounces, with potential endowment of 6.9 million troy ounces) with projected NPV9 ~ $156 million, NPV 10 ~$148 million, and NPV15 ~$117 million
- Gold Leaf Placer Project – 26 offshore leases (0-5 km offshore); 16,517 acres (area approximately 67 km2; 32 kilometers east to west); target water depth 0-3 meters; currently producing – management estimates 2025 gross gold production ~6,750 troy ounces (as of 2021, about 121,037 troy ounces have been extracted)
- Bering SubSea Mining Project – 1 offshore lease, ADL 17867 (0-5 kilometers offshore); 2,000 acres; target water depth 0-3 meters; currently producing – management estimates 2025 gross gold production ~800 troy ounces (maximum ~6,000 troy ounces in 2014)
- Estimated strong gold recovery rates (over 0.03 troy ounces per cubic yard) to expand placer gold production to +/-10,000 troy ounces per season (about June – November)
- Relatively low-cost operating expenses (+/-$850 per troy ounce placer gold produced) reflecting simple extraction of placer gold deposits in shallow waters of Bering Sea (no deep mining required)
- Infrastructure in-place – roads and power available; public airport located 4 km away; Port of Nome supports freight and cruise ships and is undergoing a $500 million expansion
GOLD LEAF PLACER – PLACER GOLD RESOURCES – NOME, ALASKA
GOLD LEAF PLACER – RESOURCE MAP
BERING SUBSEA – EAST TRACK RESOURCE MAP
BERING SUBSEA – WEST TRACK RESOURCE MAP
EXAMPLE PLACER GOLD WORK PLATFORM – PROCESS FLOW
- Seafloor Gravel (pay layer)
- Suction Dredge Head / Cutter
- diver operated or mechanized
- targets pay gravel layer
- breaks up compacted sediments
- Slurry Pump (water + sediment)
- moves water, sand and gravel
- determines dredge depth capacity
- typically powered by diesel
- Delivery Hose to Platform
- Washing Plant
- screening
- primary + secondary recovery
- tailing discharge
- cleanup
- Gold Room
- sale of gold (refiners or as Dore bars)
EXAMPLE PLACER GOLD WASHING PLANT – PROCESS FLOW
- Screening (Grizzly / Trommel)
- removes oversized / large rocks
- protects downstream recovery equipment
- Primary Recovery (Sluice Box)
- uses riffles and mats
- gold settles due to high density (~19.3 g/cm3)
- Secondary Recovery
- fine gold capture using expanded metal, miner’s moss, and centrifugal concentrators (large ops)
- Tailings Discharge
- waste material discharged back to seabed
- often behind or below the dredge
- Cleanup System
- periodic cleanup of sluice mats
- final recovery using shaking tables, panning, small concentrators
- Gold Room (land yard)
- cleaned raw placer gold
- sent to gold refiner to sell
- melted (smelting furnace) into Dore bars for sale
- cleaned raw placer gold
MANAGEMENT
William David McCully – Co-Founder and Chief Executive Officer
Successful entrepreneur with over 40 years in offshore resource project management and development including offshore suction dredging and seafood harvesting/processing, aviation and hospitality. Co-Founded OceangoldUS in 2025. Owner/Operator of Bering Subsea Mining since 1995. Previously served as Co-Founder and Managing Partner of Seagate Fisheries; Owner/Operator of Commercial Diving & Seafood Harvesting Vessels; and Owner/Operator of Rock Island Helicopters.
John A. Keeley – Co-Founder and Director of Operations
Over 36 years in offshore marine construction management and development with expertise in project management, ocean gold mining, underwater (tremie) concrete, marine salvage, and safe work practices. Co-Founded OceangoldUS in 2025. Prior Owner & CEO for Phoenix Mining Co, Inc and Co-Owner of Trident Marine. Previously served as Supervisor of Mining for NOGC JV-2; Manager – Gold Resources Bulk-Testing for Phoenix Marine Mining /Pioneer Offshore Mining; and Manager of Diver Department for Marine Services Co. US Army – Infantry Intelligence Specialist/11F Long Range Reconnaissance (1966-1968); US Army Reserves (1968-1972).
Neil Fraiser – Advisor, Geologist and Mining Engineer
Over 40 years in the engineering experience in offshore well site management, seismic interpretation, and marine basin modeling. Founded Placer Resource Management (PTY) Ltd in 2014. Previously served in management roles for AuruMar (JV between De Beers and Anglo Gold Ashanti); in senior management roles and Executive Team for De Beers Marine (DBM); Exploration Manager for NAMCO; General Manager Angolan Operations for Ocean Diamond Mining (acquired by NAMCO), and as an engineer for the South African National Oil Exploration Co (SOEKOR). Completed South African National Service seconded to the Institute for Maritime Technology. Presented numerous papers at conferences internationally. BS with Honors from the University of Cape Town (South Africa).
Gary van Eck – Advisor, Geologist and Mining Engineer
Over 36 years in offshore operations, project and safety engineering and management. Senior Vice President – Operations for Ocean Minerals/Moana Minerals/Kiva Marine Group of Companies. Previously served as Principal and Principal Safety Leadership for De Beers Group Services; General Manager for AuruMar (JV between De Beers and Anglo Gold Ashanti); Senior Project Manager for De Beers Marine; Fleet Manager for SafMarine; and Project Manager for ARMSCOR. Certifications include – Sustainability Leadership (2016); A3 Safety Risk Management (2012); Project Management Professional (2003); Professional Engineer – South Africa (1989). Diploma in Business Administration and Management from Damelein College (affiliated to London College International Business Studies; South Africa). MS with Honors in Naval Architecture from University College London (UK). BS in Mechanical Engineering from the University of Natal (South Africa).
FOOTNOTES:
OVERVIEW
SOLUTION/STRATEGY
GOLD LEAF PLACER – PLACER GOLD RESOURCES – NOME, ALASKA
GOLD LEAF PLACER – RESOURCE MAP
SPECIFIC RISKS
(1) Placer Marine Mining – AuraMar – Nome Offshore Project – NI 43-101 Technical Report – Aug 2022
(2) IHC Merwede – AuruMar – Nome Offshore Gold Project – Low Capital Risk Mining Study – 130620
(3) Placer Marine Mining – AurMar – Nome Offshore – Updated Endowment Exercise – March 2014
(4) https://www.goldrichmining.com/chandalar-gold-district/placer-properties.html
(5) Bering Subsea Mining LLC – John Keeley – Contract for Mining Services – FULLY EXECUTED – 230520
(6) Alaska – K&S Leasing – Bering Subsea Mining – Contracted Extended Offshore Mining Lease 17867 – unsigned – 110107
(7) ArcticToday – Nome port expansion moves ahead with major contract – 250821
(8) Americas Engineer – Assistant Secretary Army for Civil Works Visits Nome Alaska – 260328
(9) Alaska – Nome – The Nations Arctic Port – Brochure – 2025
GOLD DEMAND
GOLD SUPPLY
(10) https://www.gold.org/ (ICE Benchmark Administration; Metals Focus; Refinitiv GFMS; World Gold Council)
OPPORTUNITY – PLACER GOLD
OPPORTUNITY – ALASKA
(11) EPA – Extraction and Beneficiation of Ores Minerals – Gold Placers – Vol 6 – Oct 1994
(12) Alaska DGGS – Alaska Mineral Industry – Report 49 – 1994
(13) EPA – Extraction and Beneficiation of Ores Minerals – Gold Placers – Vol 6 – Oct 1994
OPPORTUNITY – ALASKA
(14) Data Insights – The five largest gold mines in operation in the US – 240618
(15) KTOO – Record gold prices could mean banner year for Alaska Mines – 260325
(16) Alaska DNR – Nome Offshore Mining – website – 2026
OFFSHORE PLACER GOLD – NOME, ALASKA
NOME PLACER GOLD MINING – HISTORY
SOLLUTION/STRATEGY
(17) ipsubsea.com – Gold Resource Offshore Alaska – 2025
(18) IHC Merwede – AuruMar – Nome Offshore Gold Project – Low Capital Risk Mining Study – 130620
(19) ArcticToday – Nome port expansion moves ahead with major contract – 250821
(20) Americas Engineer – Assistant Secretary Army for Civil Works Visits Nome Alaska – 260328
NOME PLACER GOLD MINING – HISTORY
(21) Wikipedia
(22) bridgemanimages – Nome Gold Rush, c1899 prospectors panning the sand for gold
(23) https://www.ebsco.com/research-starters/history/history-nome-Alaska
(24) Farmonaut – Gold Rush in Nome Alaska – 7 Facts – 2025
SOLUTION/STRATEGY
(25) Phoenix Offshore Mining – Placer Gold – Ocean Marine Mining – 2018
(26) DNR.Alaska – Nome Offshore Mining
(27) Cashmandredging.com – Alaska Gold Dredging
GOLD LEAF PLACER – RESOURCE MAP
(28) Nome Offshore Mining Lease Sale – AK – Track Location Map – 2011
(29) AK DNR – Notes for Offshore Nome AK Maps for Miners – 2010
BERING SUBSEA – EAST TRACK RESOURCE MAP
BERING SUBSEA – WEST TRACK RESOURCE MAP
(30) Pioneer Marine – Placer Gold Resources – 140303
PROCESS FLOW – OFFSHORE PLACER GOLD WASHING PLANT
(31) Mineraldressing – placer gold mining – minerals processing
SPECIFIC RISKS
Financial models and other supporting information regarding historical data, hypothetical target returns, contextual analysis, and other pertinent matters will be made available to prospective investors upon request. There is no guarantee of success, and there is a potential for loss of your investment.
Risks related to early-stage company
- Limited financial history, limited assets, and cash flows
Risks related to liquidity
- Insufficient capital to acquire/develop gold assets
Risks related to key persons
- Lightly staffed and expertise is concentrated in a few executives; expansion will require finding experienced executives, geologists, and engineers to fill open positions
Risks related to operations
- Severe weather may limit activity, fuel and labor costs may be higher than expected, water treatment/recycling may reduce returns if throughput is negatively affected, unexpected equipment and supply chain bottlenecks may cause delays and/or increase operating costs
Risks related to geology
- Extraction of placer gold may result in lower-than-expected concentration or production volumes (placer value is sensitive to recoverable volumes, not just grade)
Risks related to regulation, environmental, and politics
- Local, state and/or federal government permits must be in-place before mining may begin; heavy metals (such as mercury) might be present in bottom sediments which may increase operating costs; new legislation and/or change in regulation could negatively impact on operations
Risks related to the economy
- Decline in economic demand could negatively impact prices and demand, and prevent expected returns on investment
Risks related to private securities
- Private securities are speculative, illiquid, and carry a high degree of risk – including loss of the entire investment
