White Gold (WGO) AI Stock Analysis

• Market Cap: C$329.94M
• Dividend Yield: N/A
• Average Volume (3M): 719.06K
• Price to Earnings (P/E): ―
• Beta (1Y): 2.80
• Revenue Growth: N/A
• EPS Growth: -40.00%
• Country: CA
• Employees: 8
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Gold
• EPS (TTM): >-0.01
• Shares Outstanding: 221,435,700
• 10 Day Avg. Volume: 437,418
• 30 Day Avg. Volume: 719,063
• PEG Ratio: -4.35
• Price to Book (P/B): 0.32
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -28.27
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: C$4.50
• Price Target Upside: 226.09% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 56 Neutral
• Price Target: C$2.00 ▲(44.93% Upside)

The score is driven primarily by solid solvency (no debt and strong equity) but offset by continued pre-revenue losses and cash burn. Technicals add support due to a strong uptrend, though overbought momentum raises near-term risk. Valuation is constrained by negative earnings (negative P/E) and no dividend support.

Positive Factors

Balance sheet strength

Zero reported debt and a large equity base provide durable solvency and low financial leverage. That balance-sheet strength supports multi-year exploration programs, enhances negotiating power for JV/asset deals, and reduces default risk versus debt-funded peers.

Asset-centric exploration model

Owning and advancing district-scale gold projects creates optionality: discovery upside, value-accretive JV/earn-in or asset-sale pathways, and the ability to de-risk targets before capital-intensive development, aligning with long-term exploration industry economics.

Lean operating footprint

A small employee base supports a lean cost structure and management agility, helping conserve cash between financings. For an exploration company this lowers fixed overhead, extends runway per financing, and enables capital to be concentrated on field programs.

Negative Factors

Persistent cash burn

Sustained negative operating and free cash flow indicate ongoing cash consumption from exploration. Over months this requires repeated financing or asset sales, which can delay project timelines, constrain program scale, and increase shareholder dilution risk.

Pre-revenue business with recurring losses

Absence of revenue and persistent losses mean the company cannot self-fund advancement to development. Long-term value depends on successful exploration outcomes or transactions, making operating sustainability contingent on externally sourced capital or partner deals.

Reliance on capital-markets funding

Dependence on equity raises and asset transactions is structural for exploration firms; it risks recurring dilution and is sensitive to market conditions. If access tightens, project activity and timelines can be curtailed, weakening long-term project advancement prospects.

White Gold Business Overview & Revenue Model

Company Description

White Gold Corp. engages in the acquisition, exploration, and development of mineral properties in Canada. Its flagship project is the Golden Saddle and Arc deposits in the White Gold property located in Dawson City, Yukon. It owns a portfolio of 17,584 quartz claims across 30 properties covering approximately 3,49,824 hectares located in the Yukon's White Gold District in Canada. The company was formerly known as G4G Capital Corp. and changed its name to White Gold Corp. in December 2016. White Gold Corp. was incorporated in 1987 and is headquartered in Toronto, Canada.

How the Company Makes Money

White Gold generates revenue primarily through the exploration and eventual extraction and sale of gold resources. The company's revenue model is centered around identifying lucrative gold deposits, developing mining operations, and selling the extracted gold in the global commodities market. Key revenue streams include the direct sale of mined gold to refineries, jewelry manufacturers, and financial institutions. Additionally, the company may form strategic partnerships or joint ventures with other mining companies to share resources and expertise, further enhancing its revenue potential. Factors such as fluctuations in gold prices, operational efficiency, and successful discovery of new gold reserves significantly impact the company's earnings.

White Gold Financial Statement Overview

Summary

Financials are mixed: a strong balance sheet with zero debt and substantial equity supports solvency, but the company remains pre-revenue with persistent net losses and ongoing operating/free-cash-flow burn, limiting near-term financial strength.

Income Statement

TTM (Trailing-Twelve-Months) results show no revenue and continued operating losses (EBIT about -2.5M) with a net loss of roughly -2.48M. Losses have been persistent across annual periods, with no visible top-line traction, which limits confidence in profitability near-term. A modest positive is that the latest net loss is smaller than some prior years (notably 2020), but the core issue remains a pre-revenue cost structure.

Balance Sheet

The balance sheet is the key strength: the company reports zero debt across periods and maintains a sizable equity base (~121.5M TTM (Trailing-Twelve-Months)) against total assets of ~137.8M, suggesting low financial leverage and good solvency. However, returns remain negative (return on equity around -2.0% TTM (Trailing-Twelve-Months)), reflecting ongoing losses and an asset base that is not yet producing earnings.

Cash Flow

Cash generation is weak, with negative operating cash flow TTM (Trailing-Twelve-Months) (about -2.40M) and materially negative free cash flow (about -5.02M), indicating ongoing cash burn. Free cash flow also deteriorated versus the prior annual period (negative growth in TTM (Trailing-Twelve-Months)), increasing funding risk over time. While free cash flow is shown as larger than the net loss in magnitude in some periods (suggesting working-capital or non-cash effects), the overall trend still points to sustained cash outflows.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	0.00	0.00
Gross Profit	-94.34K	-2.20K	-133.25K	-4.49K	-6.41K	-9.15K
EBITDA	-2.74M	-2.41M	-2.06M	-472.01K	-3.20M	-3.82M
Net Income	-2.48M	-2.51M	-2.22M	-1.10M	-1.21M	-6.61M
Balance Sheet
Total Assets	137.81M	137.98M	134.49M	131.14M	127.60M	117.23M
Cash, Cash Equivalents and Short-Term Investments	699.64K	4.38M	4.93M	6.13M	9.65M	4.05M
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00
Total Liabilities	16.34M	15.17M	14.26M	13.90M	13.96M	14.99M
Stockholders Equity	121.48M	122.82M	120.23M	117.25M	113.64M	102.24M
Cash Flow
Free Cash Flow	-5.02M	-1.41M	-6.28M	-7.91M	-7.77M	-7.26M
Operating Cash Flow	-2.40M	-1.41M	-1.73M	-1.04M	-3.11M	-2.74M
Investing Cash Flow	-3.01M	-4.02M	-4.55M	-6.86M	-4.66M	-4.51M
Financing Cash Flow	5.27M	4.87M	5.08M	4.39M	13.36M	6.52M

White Gold Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 1.38
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:WGO, the sentiment is Neutral. The current price of 1.38 is below the 20-day moving average (MA) of 1.50, above the 50-day MA of 1.26, and above the 200-day MA of 0.74, indicating a neutral trend. The MACD of 0.13 indicates Positive momentum. The RSI at 50.89 is Neutral, neither overbought nor oversold. The STOCH value of 46.73 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for TSE:WGO.

White Gold Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
WGO	56 Neutral	C$329.94M	-118.25	-2.02%	―	―	-40.00%
YGT	52 Neutral	C$93.08M	-59.21	-2.88%	―	―	36.67%
BTR	50 Neutral	C$37.17M	-3.78	-67.80%	―	―	42.48%
KG	49 Neutral	C$39.35M	-36.05	-3.40%	―	―	-34.21%
NCAU	49 Neutral	C$205.52M	-47.27	-5.92%	―	―	-7.14%
YARR	34 Underperform	C$105.56M	-23.28	-63.46%	―	―	-652.38%

White Gold Corporate Events

White Gold Corp. Unveils Promising Porphyry Targets at Bridget Site

White Gold Corp. has identified multiple copper and multi-element porphyry-style targets at the Bridget Target on its Pedlar Property in Yukon, Canada. The 2025 geophysical surveys revealed large-scale anomalies, suggesting potential for concealed porphyry mineralization. This development aligns with increasing global demand for critical minerals and Canada’s emphasis on domestic copper development, potentially enhancing White Gold’s industry positioning.

White Gold Corp. Embraces Federal Support for Yukon’s Resource Development

White Gold Corp. welcomes the Canadian government’s announcement of nation-building projects under Budget 2025, which includes infrastructure, clean energy, and resource-corridor development. The federal commitment highlights the strategic importance of the Yukon in Canada’s mineral future, with the Northwest Critical Conservation Corridor being referred to the Major Projects Office. This move is expected to enhance the operating environment for mineral exploration in the region, benefiting companies like White Gold. The initiatives aim to improve infrastructure, energy security, and regulatory coordination, positioning the Yukon as a key player in Canada’s long-term mineral strategy.

White Gold Corp. Reports High-Grade Gold Finds at Golden Saddle

White Gold Corp. announced promising assay results from its 2025 diamond drilling program at the Golden Saddle deposit, part of its White Gold Property in Yukon. The results revealed high-grade gold mineralization, including a significant intersection of 6.89 g/t gold over 50.2 meters in the Main Zone, enhancing the resource estimate and confirming continuity in the footwall and hanging wall zones. This development underscores the potential for resource expansion and positions the project as one of Canada’s highest-grade undeveloped open-pittable gold deposits, with further exploration results anticipated.