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Westhaven Ventures ( (TSE:WHN) ) just unveiled an update.
Westhaven Gold Corp. has signed a definitive earn-in agreement with Dundee Corporation that gives Dundee the right to earn up to a 60% interest in Westhaven’s four key projects in the Spences Bridge Gold Belt by funding up to C$85 million in staged project expenditures, including a firm commitment of C$30 million. Alongside this, Dundee will invest C$3 million in Westhaven through a private placement, bolstering funding for an anticipated C$20 million work program in 2026 focused on infill and exploration drilling at the Shovelnose Gold Project, expanded environmental baseline work, and engineering studies to support a pre-feasibility study. Management from both companies describe the transaction as transformational, aligning capital and technical resources to accelerate de-risking and development of Shovelnose toward a production decision while maintaining a significant interest for Westhaven shareholders, potentially reshaping the company’s growth trajectory and strengthening its position within Canada’s gold exploration sector.
Spark’s Take on TSE:WHN Stock
According to Spark, TipRanks’ AI Analyst, TSE:WHN is a Neutral.
Westhaven Ventures faces significant financial obstacles with no revenue and increasing losses affecting its financial health. While technical indicators show a neutral outlook, the company’s unattractive valuation further impacts its score. The promising preliminary economic assessment of the Shovelnose Project offers some positive potential but carries uncertainty. Overall, the stock’s performance is hindered by financial and valuation challenges.
To see Spark’s full report on TSE:WHN stock, click here.
More about Westhaven Ventures
Westhaven Gold Corp. is a Canadian mineral exploration company focused on advancing gold projects within the Spences Bridge Gold Belt in southern British Columbia, including the Shovelnose, Prospect Valley, Skoonka, and Skoonka North properties. The company is pursuing the development of these assets into a potential multi-deposit, long-life gold mining camp, leveraging regional infrastructure and its technical and operational expertise in gold exploration and project advancement.
Average Trading Volume: 290,207
Technical Sentiment Signal: Sell
Current Market Cap: C$40.48M
See more data about WHN stock on TipRanks’ Stock Analysis page.