Golden Predator last week said it had gained First Nation and territorial government approval to restart its mothballed Brewery Creek gold mine in Canada's Yukon.

It also has a bulk sampling programme underway at its 3 Aces gold project and has produced coins at its Yukon Mint.

Golden Predator said the proceeds from the placement would be applied to Brewery Creek, 3 Aces and general working capital.

It said it would offer up to 8 million charity flow-through shares at 45c, 4 million flow-through shares at 38c and 3 million shares at 32c, designed to raise up to $6.08 million.

"Eric Sprott has agreed to acquire 5 million shares sold through the offering, which would increase his total ownership to 13 million shares of the company," Golden Predator said.

It is aiming for a "timely resumption" at Brewery Creek, which was stopped by a previous owner in 2002 when the gold price fell below US$300 an ounce.

The company has optimisation studies underway to enhance a 2014 preliminary economic assessment for the project, which had outlined capex of $89.4 million for a nine-year mine producing 372,000oz.

Golden Predator shares shot to a one-year high on Friday, touching C50c and closing up 22% to 47c to capitalise it at $62.4 million (US$47.7 million).