Westhaven Gold Corp.
Westhaven Gold Corp. (formerly Westhaven Ventures Inc.) is a Vancouver-based explorer/developer advancing the Shovelnose gold-silver project in the Spences Bridge Gold Belt of southern British Columbia. An updated Preliminary Economic Assessment with an effective date of 28 February 2025 outlines an 11.1-year underground mining operation producing an average of 56,000 ounces of gold and 312,000 ounces of silver a year, with after-tax NPV at a 6% discount rate of C$454 million, an after-tax IRR of 43.2%, initial capital of C$184 million against life-of-mine capital of C$379 million, a 2.1-year payback, and all-in sustaining costs of C$1,161 (US$836) per gold-equivalent ounce, at assumed prices of US$2,400/oz gold and US$28/oz silver and an exchange rate of C$1.00 = US$0.72. The underlying resource, also effective 28 February 2025 and drawing on the South, Franz and FMN zones, is 3,437,000 tonnes Indicated at 6.13 g/t gold and 32.3 g/t silver (677,200 oz Au, 3,564,500 oz Ag) plus 2,292,000 tonnes Inferred at 3.67 g/t gold and 25.2 g/t silver (270,300 oz Au, 1,859,500 oz Ag). In 2026 the company launched the largest drill campaign in Shovelnose's history -- approximately C$20 million and up to 50,000 metres across a 35,000 m South Zone resource-infill program and a 15,000 m exploration program running into December -- funded under a strategic earn-in with Dundee Corporation, under which Dundee may earn up to a 60% interest in Westhaven's four Spences Bridge Gold Belt properties through up to C$85 million of staged expenditures, with a minimum C$30 million committed in the first phase inclusive of the drill program and Pre-Feasibility work. Recent infill results include 8.12 m at 47.56 g/t gold and 229 g/t silver, and 27.51 m at 14.47 g/t gold and 52 g/t silver.
Notable vs. Peers
- Financials score of 3.7/10 is weaker than the peer average of 5.3/10.
Lifecycle Milestones
Not yet determined: mill, tailings facility.
Jurisdiction (40%)9/10
British Columbia: Fraser PPI 2025 is 74.28 of 100 (rank 31 of 68), which maps to 9 on this site's scale. The Shovelnose project is in British Columbia's Spences Bridge Gold Belt, with highway and power infrastructure nearby. British Columbia's permitting pathway for new mines is longer and more contested in practice than in the leading provinces.
Infrastructure (40%)7.9/10
Confirmed road access and confirmed grid power at Shovelnose Gold-Silver Project, Spences Bridge Gold Belt, British Columbia, Canada; existing mill and tailings facility not yet researched, counted at a neutral 5/10 until established.
Nearby producing mine (20%)9.9/10
Highland Valley Copper (Teck Resources Limited) is 22 km away -- within regional-platform range.
Acquisition Susceptibility
A relative ranking of how closely this company matches the profile of juniors that have actually been acquired — not a probability, and not a reason to buy. Acquisitions are rare: only a few dozen significant deals happen a year across a universe of thousands of juniors, so even a high score here describes a long shot. The strongest signal in the research, a producer that already owns part of the company, is scored from its disclosed strategic shareholders. A producer that is a joint-venture or earn-in partner on the project, rather than a shareholder, isn't captured yet.
How this score is built
- Disclosed pending dealSub-score: Not scored
No pending acquisition or merger disclosed (checked)
Not scored: having no deal in flight isn't held against a company.
Weight 26.25% - Producer's strategic stakeSub-score: Not scored
No producer holds a disclosed stake on file (holder register researched) See holders
Not scored: most juniors that do get bought had no prior toehold, so a missing stake says little either way.
Weight 25% - Distance to a producing mineSub-score:7.8/10
Nearest producing mine: Highland Valley Copper (Teck Resources Limited), 22 km
10 next to a producing mine, 8 at 20 km, 5 at 50 km, 0 beyond 200 km.
Weight 22.5% · 46% here - Lifecycle stageSub-score:6/10
Stage: Preliminary Economic Assessment
Feasibility and permitting score 10, where deals cluster, and production 5.5; earlier stages score less, down to 1 at grassroots.
Weight 15% · 31% here - JurisdictionSub-score:9/10
Canada: jurisdiction score 9/10
Our jurisdiction score, used as is: higher means lower political and permitting risk.
Weight 6.75% · 14% here - CommoditySub-score:10/10
Primary commodity: Gold
Gold 10, copper 8, silver 5, nickel and uranium 4, others 2: most majors' deals are for gold.
Weight 4.5% · 9% here
Weight is each input's share of the full score. “Here” is its share of this company's score: inputs that aren't scored are left out and the rest re-weighted, never counted as zero.
Your Rankings
Management Team
President and Chief Executive Officer of Westhaven Gold Corp., in the role since May 1, 2025; also Chairman of North Arrow Minerals Inc. Professional Geologist (P.Geo.).
Chief Financial Officer and Corporate Secretary of Westhaven Gold Corp.
Insiders, Investors & Smart Money
Notable shareholders and insiders whose involvement is worth knowing about, plus what we're seeing from institutional/large-investor activity.
We found no producer, major, or named resource-specialist fund behind Westhaven Gold. Insider David Thomas made several open-market purchases in March-April 2025, the largest for CA$269,888, a real if now somewhat dated vote of confidence.
No notable insiders tracked for this miner yet.
Reports, Presentations & Documents
Westhaven Gold is advancing the Shovelnose gold-silver project in the Spences Bridge gold belt of southern British Columbia. Indicated resources, effective 28 February 2025, contain 677,200 oz of gold (3,437,000 t at 6.13 g/t) and 3,564,500 oz of silver, with no measured category, plus 270,300 oz of gold inferred. The 2025 updated preliminary economic assessment outlines an underground mine producing an average of 56,000 oz of gold and 312,000 oz of silver a year over an 11.1-year mine life, with an after-tax NPV6% of US$326.9M (CAD 454M) and a 43.2% IRR at US$2,400/oz gold, initial capital of US$132.5M (CAD 184M) and an all-in sustaining cost of US$836 per gold-equivalent ounce. A 50,000 m drill program funded by Dundee is under way through 2026.