Claim 70% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Western Gold Exploration Ltd. ( (TSE:WGLD) ) just unveiled an announcement.
Western Gold Exploration Ltd. has closed a non-brokered private placement raising approximately CAD$2.74 million through the issuance of over 20.3 million common shares at CAD$0.135 per share, with the funds earmarked for exploration drilling, related work on its Scottish mineral properties, and general corporate expenses. The financing, which includes participation by CEO Ross McLellan and major shareholder Zila Corporation under related-party exemptions, underscores insider support for the company’s exploration strategy at its Lorne Project and broader Scottish portfolio, while modest finder’s fees and a standard four‑month hold period reflect a conventional venture financing structure aimed at advancing key drilling programs without triggering onerous minority approval requirements.
More about Western Gold Exploration Ltd.
Western Gold Exploration Ltd., listed on the TSX Venture Exchange under the symbol WGLD, is a mineral exploration company focused on gold, copper, silver and critical metals in Scotland, particularly along the underexplored Caledonian Appalachian trend. Its principal asset is the Lorne Project, including the Lagalochan copper-gold porphyry property in Argyll and adjacent properties along the Lorne Fault Zone, and it is also advancing the Caledonian Gold Project in central Scotland through a joint venture with Acrux Gold Limited.
Average Trading Volume: 28,901
Technical Sentiment Signal: Sell
Current Market Cap: C$4.72M
For an in-depth examination of WGLD stock, go to TipRanks’ Overview page.