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Westward Gold Inc
(WG)
Westward Gold Inc (WG) vs. S&P 500 (SPY)
Westward Gold Inc Business Overview & Revenue Model
Westward Gold Inc Financial Statement Overview
| Breakdown | |||||
| TTM | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 |
|---|---|---|---|---|---|
| Income Statement | Total Revenue | ||||
| 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | Gross Profit |
| 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | EBIT |
| -552.46K | -1.48M | -1.39M | -1.74M | -84.81K | -112.34K | EBITDA |
| -1.28M | -1.48M | -1.37M | -1.69M | -84.81K | -58.43K | Net Income Common Stockholders |
| -1.35M | -1.57M | -1.44M | -1.91M | -84.81K | -181.34K |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | ||||
| 420.31K | 420.31K | 493.97K | 2.53M | 1.19M | 249.37K | Total Assets |
| 8.95M | 8.95M | 8.14M | 7.72M | 1.30M | 339.28K | Total Debt |
| 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | Net Debt |
| -420.31K | -420.31K | -493.97K | -2.53M | -1.19M | -249.37K | Total Liabilities |
| 394.56K | 394.56K | 219.43K | 143.00K | 29.02K | 62.24K | Stockholders Equity |
| 8.56M | 8.56M | 7.92M | 7.58M | 1.27M | 277.04K |
| Cash Flow | Free Cash Flow | ||||
| -1.22M | -1.52M | ― | ― | ― | ― | Operating Cash Flow |
| -1.25M | -793.95K | -1.14M | -1.20M | -125.06K | -134.13K | Investing Cash Flow |
| -734.01K | -722.02K | -1.74M | 102.05K | -12.03K | -24.25K | Financing Cash Flow |
| 2.76M | 1.44M | 848.08K | 2.44M | 1.08M | 214.88K |
Westward Gold Inc Technical Analysis
Westward Gold Inc Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
81 Outperform | C$2.94B | 19.63 | 26.82% | ― | 77.93% | 236.93% | |
66 Neutral | $5.64B | ― | -18.54% | 4.59% | -0.18% | -2195.85% | |
47 Neutral | C$11.85M | ― | -14.83% | ― | ― | 38.07% | |
47 Neutral | $2.43B | -3.06 | -22.76% | 3.59% | 4.02% | -29.07% | |
39 Underperform | C$480.72K | ― | 55.15% | ― | ― | 85.28% |
Westward Gold Inc Corporate Events
Westward Gold Inc. has successfully closed an oversubscribed non-brokered private placement financing, raising approximately C$4 million. Strategic investor Crescat Capital LLC acquired a 10.3% stake, highlighting confidence in Westward’s exploration potential in Nevada’s Toiyabe Hills. The funds will primarily support a 5,000-meter drilling program at the Campfire Target Complex, aiming to uncover significant gold deposits in a historically underexplored area. This development positions Westward as a promising player in the Nevada gold exploration sector, with potential high returns for stakeholders.
Spark’s Take on TSE:WG Stock
According to Spark, TipRanks’ AI Analyst, TSE:WG is a Neutral.
Westward Gold Inc.’s overall score reflects its status as an exploration-stage company with no revenue yet strong financial backing. The absence of debt and successful fundraising efforts are strong points, offset by the lack of earnings and reliance on external financing. Technical indicators suggest cautious optimism, and while recent corporate events are positive, they do not significantly alter the risk-reward profile.
To see Spark’s full report on TSE:WG stock, click here.
Westward Gold Inc. announced that Crescat Capital LLC has exercised its over-allotment option, increasing its total investment in the company’s non-brokered private placement to C$1.5 million. The funds will be used primarily for drilling at Westward’s Toiyabe Hills Property in Nevada and for general working capital purposes. This investment highlights Crescat’s confidence in Westward’s exploration projects and strengthens the company’s financial position to advance its mineral exploration activities.
Westward Gold Inc. has announced an increase in its non-brokered private placement financing to C$3.6 million due to high demand. The strategic investor Crescat Capital LLC is subscribing for a significant portion of the offering, which will fund drilling at the Toiyabe Hills Property in Nevada and general working capital. This move is expected to bolster Westward Gold’s exploration efforts and strengthen its positioning in the mineral exploration industry.
Westward Gold Inc. has announced a non-brokered private placement financing, aiming to raise up to C$2,600,000 through the issuance of 32,500,000 units. Crescat Capital LLC has committed to a lead order of $1,000,000, with an option to increase its participation. The funds will primarily support drilling at the Toiyabe Hills Property in Nevada and general working capital. The offering is subject to regulatory approvals and will not create a new control person in the company.
Westward Gold Inc. has appointed Dr. John-Mark Staude as a Strategic Advisor, leveraging his extensive experience in Carlin-type gold exploration and project finance to enhance their upcoming drill campaign at the Toiyabe Hills Property in Nevada. This strategic move is expected to bolster Westward’s market positioning and attract potential investors, as the company also engages Hillside Consulting and Media Inc. to enhance its marketing and investor relations efforts.
Westward Gold Inc. has announced its 2025 exploration program for the Toiyabe Hills Project in Nevada’s Cortez Trend. The program includes Phase 1 drilling at the Campfire Target Complex, aiming to complete up to 5,000 meters of reverse circulation drilling across approximately 10 holes. This initiative seeks to test new high-value greenfield targets and expand geological mapping and sampling. The exploration is expected to provide insights into previously overlooked large-scale features and guide future drilling campaigns, with an estimated budget of $2 million.
Westward Gold Inc. has appointed J. Kelly Cluer to its Board of Directors, effective January 16, 2025. Mr. Cluer brings over 30 years of mineral exploration experience, having held senior positions at Kinross Gold Corp. His expertise in exploration and strategic planning will be instrumental as Westward continues to pursue its long-term exploration program at Toiyabe Hills. This appointment is expected to strengthen Westward’s operations and reassure stakeholders of the company’s commitment to realizing the potential of its properties.
Westward Gold Inc. has significantly expanded its Toiyabe Hills Property by acquiring 72 additional unpatented mining claims, increasing its land footprint by 347% since 2021. This strategic move follows a successful 2024 field campaign and demonstrates the company’s aggressive approach to enhancing its exploration potential in the Cortez Trend, aiming to strengthen its position in the mining industry.