Westhaven Gold Corp

Westhaven Gold Corp 300x200px

Primary ticker: TSXV:WHN
Stage of development: Exploration, Development 
Primary minerals: Gold-Silver

Project to promote: Shovelnose Gold Project
Project location:Canada

Website: www.westhavengold.com

Westhaven is a gold-focused exploration and development company targeting high-grade, epithermal style gold mineralization within the Spences Bridge Gold Belt in southern British Columbia. Westhaven controls over 615 square kilometres within four gold properties, including the advanced Shovelnose Gold Project. A 2025 Preliminary Economic Assessment* validates the potential of Shovelnose as a robust, low cost and high margin 11-year underground gold mining opportunity with average annual life-of-mine production of 56,000 ounces gold and an after-tax Cdn$454 million NPV6% and 43.2% IRR. Projected low initial capital costs of Cdn$184 million, with a payback period of 2.1 years, benefit from the project’s location immediately adjacent to major transportation and power infrastructure and within commuting distance from the city of Merritt. Ongoing exploration has the potential to expand gold resources at Shovelnose and for new discoveries within the belt.

 

Cash: CAD$1M

Debt: /

 

Major shareholders:

Rob McEwen – 5%

Dundee Corporation – 4%

Merk Investments – 3%

Cypress – 3%

Middlefield – 2% 

Management Ownership – 20%

Financials

Management Profile

Sean Thompson, Vice President Corporate Development & Investor Relations

Sean Thompson has over 10 years experience in the mining industry. He recently acted as the Director Investor Relations for Atlantic Gold Corporation, up until the acquisition of Atlantic by St Barbara Ltd. Mr. Thompson was responsible for managing the investor relations program at Atlantic from his appointment in 2016 to the closing of the transaction with St Barbara Ltd. Prior to Atlantic, Mr. Thompson acted as the Investor Relations Manager for Kaminak Gold Corporation, up until the acquisition of Kaminak by Goldcorp. Mr. Thompson earned his MBA from Dalhousie University.

What is your rationale for taking part in 121 Mining Investment?

Building awareness of our flagship Shovelnose Gold Project and other gold properties along the emerging Spences Bridge Gold Belt in South Central British Columbia, Canada.

What recent news would you like to highlight to investors attending?

March 3rd, 2025: Westhaven Announces Updated Preliminary Economic Assessment for the Shovelnose Gold Project, British Columbia After-Tax NPV Doubled to $454 Million After-Tax IRR of 43.2% Payback of Initial Capital Costs of 2.1 Years

What are your key goals in 3 months, 6 months, 12 months?

3 – 12 Months:

Advance the Shovelnose Gold Project towards Feasibility: First Nation / Stakeholder engagement, resource conversion, metallurgy, geotechnical and hydrogeology, permitting. Regional exploration: Continue drill testing & developing a pipeline of exploration targets on Shovelnose.

What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?

Capital markets for junior exploration and development have been very weak over the past several years and access to capital without a lot of dilution is challenging. As the largest shareholder group with ~20% insider ownership management is doing everything in it’s power to create shareholder value, advance the project, and continue exploration drilling prudently and carefully until the capital markets strengthen.

What do you think makes your company such a compelling investment?

Compelling Valuation
$30M ($0.16/share) market cap on a gold asset with a $454M after-tax NPV6% based on a US $2,400/oz gold price. At today’s record high gold price of US $3,400/oz, projected margin would be ~US $2,500/oz of gold produced.
 
Gold Asset Portfolio 
4 gold properties along the Spences Bridge Gold Belt in southern British Columbia. Proximity to cities, transportation and power infrastructure lowers development and exploration costs. Significant Exploration Upside / New Discovery Potential on all properties.
 
Shareholder Alignment 
Management and insiders own ~20% of Westhaven with additional strategic investments from gold mining heavyweights Franco-Nevada and Rob McEwen.
 

What are the top 3 key investor takeaways?

1) Compelling Valuation

$30M ($0.16/share) market cap on a gold asset with a $454M after-tax NPV6% based on a US $2,400/oz gold price. At today’s record high gold price of US $3,400/oz, projected margin would be ~US $2,500/oz of gold produced.

 

2) Gold Asset Portfolio 

4 gold properties along the Spences Bridge Gold Belt in southern British Columbia. Proximity to cities, transportation and power infrastructure lowers development and exploration costs. Significant Exploration Upside / New Discovery Potential on all properties.

 

3) Shareholder Alignment 

Management and insiders own ~20% of Westhaven with additional strategic investments from gold mining heavyweights Franco-Nevada and Rob McEwen.