White Gold ($WGO | $WHGOF) Advances Its 3-Million-Ounce Gold Resource in Yukon

Investor TV Sep 7, 2026 38:56

Summary

White Gold's maiden PEA on 2 of its 3 million ounces delivers C$1.9B NPV at $3,600 gold, scaling to C$3B at $4,500.

Sub-$1,500 AISC and 225,000 oz/year in the first 5 years make Golden Saddle Yukon's highest-grade development story.

The company's largest-ever exploration program is drilling now, targeting district-scale growth across 750,000 acres.

Agnico Eagle's 19% stake plus its position in neighboring Talamore/Coffee hints at district-scale consolidation in Yukon.

Macro view: a seasonal September/October correction is likely before gold pushes to $5,000, with miners now outperforming the metal.

The CEO confirms Agnico Eagle is roughly a 19% shareholder of White Gold (the 'Nico Eagle' he references) and is also a major shareholder of the neighboring Talamore coffee project.
Don Durrett says Agnico is his largest holding and what he calls the best gold miner in the world, citing its recent Finland acquisition as evidence it is looking for district-scale assets.
Management argues Agnico is the only realistic takeout candidate for White Gold, but its full pipeline makes an acquisition unlikely soon, supporting a multi-year development timeline.

Kinross is mentioned only through the new head of exploration's resume: Dylan Langille stayed on at Great Bear for two years after Kinross's $2 billion acquisition, as resources grew from 5 million to 7 million ounces.

Newmont is identified as Pierre Lassonde's partner in the Talamore vehicle that is developing the coffee project immediately south of White Gold in the Yukon.

Don Durrett cites New Found Gold as a peer with 5 million plus ounces that will take a long time to develop, contrasting it with White Gold's nearer-term production path.

Don Durrett groups Thesis Gold with White Gold as Yukon-area plays he describes as loaded with gold and silver.

Don Durrett flags Tudor Gold as a 25-million-ounce peer whose development timeline will be long, drawing a contrast with White Gold's nearer-term production.

The CEO (David D'Onofrio) positions White Gold as a tier-1 Yukon development story built around a 3 million ounce, highest-grade resource in the territory and a soil-geochemistry exploration method developed by partner Sean Ryan.
The maiden PEA covering only two of three million ounces returned a $1.9B CAD NPV at $3,600 gold (about $3B at $4,500 gold), with sub-$1,500 AISC, ~188,000 oz/yr production (225,000 oz/yr in years 1-5), and an IRR above 40%.
Management describes significant exploration upside: 750,000 acres across 20+ projects, with the largest drill program in company history underway under new head of exploration Dylan Langille (ex-Great Bear/Kinross).
Agnico Eagle's roughly 19% stake is cited as strategic validation, while a neighboring Talamore coffee project (with Newmont and Pierre Lassonde) plus an upgraded Hall Gray Road are framed as de-risking permitting and infrastructure.
Funding is presented as manageable: a roughly $20M/yr program that is already fully funded, with management estimating only about 10% dilution to production, ideally issued in tranches at higher prices.

Don Durrett points to Snowline Gold's 10 million plus ounce Yukon discovery as evidence the territory is becoming a major new mining district.

Top takeaway Don Durrett argues miners are starting to outperform gold (since July of this year, the gold/S&P ratio sits around 0.55 and he wants to see it climb toward 0.7-2.0) and that money will rotate from broad equities into miners over the next two years.
He expects a near-term correction in September/October 2025 driven by midterm-year seasonality, but sees any dip as a buying opportunity, with gold heading to $4,200 before $5,000 and most Fed tightening already priced in.
Durrett calls Agnico his largest holding and 'the best gold miner in the world,' frames the Yukon as becoming one large mining district, and labels White Gold a potential 10-bagger development play with a $3B+ price target.

Top takeaway The CEO argues White Gold is still in the 'very early innings' of its story, with a tier-1 Yukon asset and high insider ownership that defends against a hostile takeover.
He frames the maiden PEA as intentionally conservative and notes it covers only two of three million ounces, with the third ounce block, district-scale exploration upside, and a new president (Donovan Pollitt) still to be reflected in the share price.
D'Onofrio says the road upgrade through the project, Agnico's ~19% stake, and the neighboring Newmont/Lassonde coffee project reduce permitting and infrastructure risk, supporting a re-rate toward $500 per ounce in the ground.