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Western Gold Resources Ltd.
(Sydney:WGR)
Western Gold Resources Ltd. (WGR) vs. iShares MSCI Australia ETF (EWA)
Western Gold Resources Ltd. Business Overview & Revenue Model
Western Gold Resources Ltd. Financial Statement Overview
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 26.98K | 66.64K | 4.64K | 0.00 | 0.00 | 0.00 |
| Gross Profit | 24.81K | 66.64K | 4.64K | -1.78K | -1.82K | 0.00 |
| EBITDA | -2.25M | -1.97M | -2.43M | -1.90M | -4.01M | 0.00 |
| Net Income | -2.50M | -2.50M | -3.11M | -1.90M | -4.01M | 2.05M |
Balance Sheet | ||||||
| Total Assets | 1.68M | 1.68M | 2.07M | 1.29M | 2.92M | 838.75K |
| Cash, Cash Equivalents and Short-Term Investments | 608.40K | 608.40K | 751.32K | 658.71K | 2.13M | 31.25K |
| Total Debt | 0.00 | 0.00 | 500.00K | 0.00 | 0.00 | 463.62K |
| Total Liabilities | 303.68K | 303.68K | 740.81K | 261.94K | 460.41K | 813.40K |
| Stockholders Equity | 1.38M | 1.38M | 1.33M | 1.03M | 2.46M | 25.34K |
Cash Flow | ||||||
| Free Cash Flow | -1.94M | -1.88M | -2.24M | -1.95M | -4.17M | -693.37K |
| Operating Cash Flow | -1.94M | -1.88M | -2.22M | -1.95M | -4.16M | -693.37K |
| Investing Cash Flow | 198.00K | 198.00K | -99.19K | 0.00 | -12.88K | 0.00 |
| Financing Cash Flow | 1.60M | 1.54M | 2.41M | 475.24K | 6.27M | 724.62K |
Western Gold Resources Ltd. Technical Analysis
Western Gold Resources Ltd. Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
56 Neutral | AU$46.90M | -140.00 | -2.49% | ― | ― | 37.50% | |
52 Neutral | AU$59.21M | -9.32 | -20.41% | ― | 400.00% | 21.71% | |
49 Neutral | AU$37.00M | -12.69 | -19.04% | ― | ― | -4.00% | |
49 Neutral | AU$31.58M | -6.35 | -7.34% | ― | ― | ― | |
47 Neutral | AU$26.97M | -7.31 | -77.71% | ― | ― | ― | |
46 Neutral | AU$58.53M | -14.60 | -184.34% | ― | ― | 40.17% |
Western Gold Resources Ltd. Corporate Events
Western Gold Resources Ltd. has issued 1,000,000 new fully paid ordinary shares following the partial exercise of unlisted options that were originally granted to lenders under a $3 million secured, non-converting loan facility established in 2025. The company confirmed that the new shares were issued without a disclosure document under the Corporations Act, while stating it remains compliant with its continuous disclosure and financial reporting obligations and that there is no excluded information requiring disclosure, signaling regulatory compliance and clarifying the capital structure for shareholders.
The most recent analyst rating on (AU:WGR) stock is a Hold with a A$0.25 price target. To see the full list of analyst forecasts on Western Gold Resources Ltd. stock, see the AU:WGR Stock Forecast page.
Western Gold Resources Limited, an ASX-listed resources company focused on gold projects, continues to expand its equity base through the issuance of new ordinary shares. The company has applied for quotation on the ASX of 1,000,000 new fully paid ordinary shares, issued on 29 January 2026 following the exercise or conversion of existing options or other convertible securities, modestly increasing its listed capital and potentially improving liquidity for shareholders.
The most recent analyst rating on (AU:WGR) stock is a Hold with a A$0.25 price target. To see the full list of analyst forecasts on Western Gold Resources Ltd. stock, see the AU:WGR Stock Forecast page.
Western Gold Resources has secured board approval to commence mining at its 100%-owned Gold Duke Project, with mobilisation and site establishment scheduled for the first quarter of 2026. The company is now fully funded through to production after raising $6.75 million in an oversubscribed placement backed by institutional investors and arranging a deferred payment facility with mining contractor SSH Mining. An updated Mineral Resource Estimate for Gold Duke now stands at 4.8 million tonnes at 1.8 grams per tonne gold for 277,000 ounces, while early results from a 35,300-metre grade control and infill drilling program at Eagle South, Gold King and Golden Monarch confirm the accuracy of the geological model and strong grade continuity. The Golden Monarch deposit, which accounts for roughly a third of the ounces in the Scoping Study, continues to return high-grade, consistent intercepts, bolstering confidence in early-stage mine production and financial outcomes. The latest Scoping Study outlines a production target of 42,800 ounces of gold from 686,000 tonnes at 2.1 grams per tonne, with an illustrative undiscounted cash surplus of A$109.7 million at a A$5,800/oz gold price, representing a 64% increase on the previous estimate and materially enhancing the project’s value proposition for shareholders.
The most recent analyst rating on (AU:WGR) stock is a Hold with a A$0.25 price target. To see the full list of analyst forecasts on Western Gold Resources Ltd. stock, see the AU:WGR Stock Forecast page.
A substantial shareholder in Western Gold Resources Ltd. has lodged a regulatory notice indicating it has ceased to be a substantial holder in the company. The change reflects a reduction in that investor’s voting interest below the substantial holding threshold, potentially altering the company’s share register dynamics and signalling a shift in the composition of its major shareholders, which may be monitored closely by existing investors and the market.
The most recent analyst rating on (AU:WGR) stock is a Hold with a A$0.20 price target. To see the full list of analyst forecasts on Western Gold Resources Ltd. stock, see the AU:WGR Stock Forecast page.
Western Gold Resources has released an updated Mineral Resource Estimate for its Gold Duke Project, now standing at 4.8 million tonnes at 1.8 grams per tonne gold for 277,000 ounces, including 2.0 million tonnes at 1.6 grams per tonne in the higher-confidence Measured and Indicated categories. The new estimate, prepared under the JORC 2012 Code and constrained within an A$7,000/oz pit shell, incorporates nearly 34,000 metres of recent grade control and infill reverse circulation drilling, refined geological modelling and revised economic assumptions, significantly improving confidence, continuity and operational realism of the resource in the key mining-approved deposits. Metallurgical test work has confirmed strong recoveries of up to 95.2% using conventional CIL processing, while a binding toll milling agreement for treatment at the nearby Wiluna plant and a fully funded pre‑production program underpin the company’s capital-light pathway toward production. With mineralisation remaining open along strike and at depth and a Stage 2 growth strategy underway to assess brownfields prospects near planned operations, the update strengthens the technical and economic foundations of Gold Duke and highlights potential for further resource growth and value creation for stakeholders.
Western Gold Resources has approved a formal Decision to Mine at its Gold Duke Project in Western Australia, marking a strategic shift from exploration and development to becoming a near-term gold producer. The decision follows completion of a 35,000m close-spaced grade control and infill drilling program, updated geological modelling and mine scheduling across the Stage 1 pits, which have demonstrated strong continuity between new and historical data, supporting accurate ore boundary definition, higher confidence in pit optimisation and the potential for resource upgrades. With all key regulatory approvals in place, a binding toll-milling agreement secured with a nearby processing plant, a preferred mining contractor identified, and funding to production supported by a recent A$6.75 million placement and a planned deferred payment facility, the project is now operationally and financially positioned for mobilisation and site establishment in the first quarter of 2026 and updated mineral resource models expected before the end of 2025.
Western Gold Resources Ltd. has completed the issuance of 30,444,027 new fully paid ordinary shares as the final tranche of a placement totaling 56,250,000 shares. This move, approved at the company’s 2025 Annual General Meeting, aims to strengthen its financial position and support its strategic initiatives in the gold mining sector.
Western Gold Resources Ltd. announced the issuance of 15,000,000 unlisted options with an exercise price of $0.175, set to expire on December 5, 2028. This move is part of previously announced transactions and reflects the company’s strategic financial maneuvers to enhance its capital structure, potentially impacting its market positioning and stakeholder interests.
Western Gold Resources Ltd. announced the quotation of 30,444,027 ordinary fully paid securities on the Australian Securities Exchange (ASX) as of December 5, 2025. This move is part of previously announced transactions and is expected to enhance the company’s financial position and market presence, potentially benefiting stakeholders by increasing liquidity and investment opportunities.
Western Gold Resources Ltd. has issued 1,404,143 new fully paid ordinary shares as part of a $3 million loan facility agreement with professional and sophisticated investors. This issuance, made under section 708A(5)(e) of the Corporations Act 2001, allows lenders to receive their interest payments in shares at a deemed price of $0.08 per share, with an interest rate of 15% per annum paid quarterly. This move is part of the company’s strategy to manage its financial obligations and could impact its market positioning by potentially increasing its shareholder base.
Western Gold Resources Ltd. announced the issuance of 1,404,143 fully paid ordinary securities, as part of a previously announced transaction. This move could potentially enhance the company’s market presence and provide additional capital for its operations, impacting stakeholders by possibly increasing shareholder value and supporting future growth initiatives.
Western Gold Resources Limited announced that all resolutions presented at their Annual General Meeting were approved by the required majority. This approval includes key resolutions such as the re-election of directors and the ratification of placement shares, which are significant for the company’s governance and financial strategies.
Western Gold Resources Limited has announced promising assay results from its Golden Monarch deposit, part of the Gold Duke Project. The results indicate strong grade continuity and alignment with the company’s geological model, enhancing confidence in mine scheduling and project execution. The Golden Monarch deposit is a significant contributor to the project’s ore tonnes and gold ounces, with the latest drilling results reinforcing the predictability of mineralisation. This development de-risks the project further as the company moves towards a Decision to Mine, supported by high-resolution data from a comprehensive drilling program.
Western Gold Resources Ltd. announced a change in the director’s interest, specifically regarding Teck Siong Wong’s holdings. Mr. Wong, a director and beneficial shareholder of Bluebay Investments Group Corporation Ltd, has seen a lapse in 2,000,000 Class A and 2,000,000 Class B Performance Rights, leaving him with 2,891,629 Ordinary Fully Paid Shares and 4,000,000 Performance Rights expiring on 27 June 2030. This change reflects a reduction in potential future equity holdings, which may impact the company’s governance and shareholder value.
Western Gold Resources Ltd. has announced a change in the interests of its director, Gary Lyons, who has disposed of 2,000,000 Class A and 2,000,000 Class B performance rights. This change reflects a lapse in performance rights, leaving Mr. Lyons with 993,629 ordinary fully paid shares and 5,000,000 performance rights expiring on June 27, 2030. The announcement may impact the company’s governance and investor perception, as changes in director interests can signal shifts in strategic priorities or confidence in the company’s future performance.