Western Exploration Inc (WEX) Financings
TSXV: WEX · Gold, Silver · Advanced Exploration stage
- Market cap$40.0M
- Share price$0.640
- 52-week range$0.510 – $1.20
- Shares outstanding62,427,269
- ExchangeTSXV
- Websitewesternexploration.com
Western Exploration is a Nevada-focused gold and silver developer advancing its 100%-owned Aura project, located approximately 120 kilometres north of Elko, Nevada. The Aura project hosts two primary assets: Doby George, a near-surface oxide heap-leach project with a positive 2025 Preliminary Economic Assessment; and the Gravel Creek / Wood Gulch corridor, a high-grade gold-silver epithermal system. For more information, please refer to the PEA Technical Report. Western trades on the TSX Venture Exchange under the symbol WEX and on the OTCQX Market under the symbol WEXPF.
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Western Exploration Inc financial statements
Key figures read from 37 of 38 financial statement filings, Nov 18, 2016 to Aug 21, 2026. Each column is the period as the company first filed it.
Balance sheet: annual key figures
US dollars (US$), figures as printed in the statements. Losses and cash outflows are in brackets.
| Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | |
|---|---|---|---|---|---|
| Cash and equivalents | — | — | US$519,701 | US$1,266,462 | US$5,495,609 |
| Total current assets | US$563,311* | US$8,568,915 | US$8,575,286 | US$8,584,503 | US$8,607,200 |
| Total current liabilities | US$215,528 | US$1,035,648 | US$249,074 | US$123,766 | US$1,713,705 |
| Working capital | US$347,783 | US$7,533,267 | US$8,326,212 | US$8,460,737 | US$6,893,495 |
| Exploration and evaluation assets | US$7,865,000 | US$7,865,000 | US$7,865,000 | US$7,865,000 | US$7,865,000 |
| Property, plant and equipment | US$86,509 | US$85,858 | US$92,229 | US$101,446 | US$112,017 |
| Total assets | US$9,132,877 | US$9,660,419 | US$9,297,427 | US$9,976,493 | US$14,132,716 |
| Total liabilities | US$925,940 | US$1,161,174 | US$1,325,684 | US$1,065,021 | US$2,497,767 |
| Shareholders' equity | US$8,206,937 | US$8,499,245 | US$7,971,743 | US$8,911,472 | US$11,634,949 |
* Calculated from the statement's own lines: the company did not print this total with a label.
Income statement: annual key figures
US dollars (US$), figures as printed in the statements. Losses and cash outflows are in brackets.
| FY Dec 2025 | FY Dec 2024 | FY Dec 2023 | FY Dec 2022 | FY Dec 2021 | |
|---|---|---|---|---|---|
| Exploration and evaluation expense | US$2,108,430 | US$3,772,142 | US$2,410,500 | US$2,155,527 | US$845,546 |
| General and administrative | US$1,605,176 | — | US$2,166,065 | US$3,454,622 | US$1,096,857 |
| Net income (loss) | (US$3,676,689) | (US$5,716,903) | (US$4,547,457) | (US$5,383,735) | (US$1,856,952) |
Cash flow statement: annual key figures
US dollars (US$), figures as printed in the statements. Losses and cash outflows are in brackets.
| FY Dec 2025 | FY Dec 2024 | FY Dec 2023 | FY Dec 2022 | FY Dec 2021 | |
|---|---|---|---|---|---|
| Operating cash flow | (US$3,794,967) | (US$5,399,756) | (US$3,869,344) | (US$5,085,601) | (US$266,618) |
| Investing cash flow | (US$7,897) | — | US$6,817 | US$10,000 | US$43,116 |
| Financing cash flow | US$3,297,186 | US$5,870,654 | US$3,115,766 | US$834,107 | US$4,463,176 |
| Proceeds from share issues | US$3,235,679 | US$5,870,654 | US$3,115,766 | — | — |
| Change in cash | (US$529,830) | US$470,898 | (US$746,761) | (US$4,241,494) | US$4,239,674 |
| Cash at end of period | US$1,071,719 | US$1,601,549 | US$1,130,651 | US$1,877,412 | US$6,118,906 |
Western Exploration Inc financings
1 financing announced or closed by Western Exploration Inc, read by Mining News Terminal, newest first.
| Date | Company | Type | Stage | Amount | Unit price | Release |
|---|---|---|---|---|---|---|
| 2026-02-03 | Western Exploration Inc (WEX) | LIFE offering, brokered | Closed, 1 tranche | $9.0M | $0.920 | Western Exploration Closes Fully-Subscribed C$9 Million LIFE Offering of Units |
Western Exploration Inc debt and credit facilities
Convertible debentures and notes, loans, credit facilities, bonds, gold loans and prepayments Western Exploration Inc has announced, read by Mining News Terminal. A debt reported in several releases is listed once, at its latest stage.
| Date | Debt | Lender | Amount | Terms |
|---|---|---|---|---|
| 2020-01-20 | Convertible note / loan, repaid / settled | — | US$10M | — |
| 2020-01-20 | Convertible note / loan, closed / funded | EMR Capital | US$13.12M | 12%, matures 2020-01-19 |
| 2018-10-30 | Convertible note / loan, closed / funded | EMR Capital | US$5M | 12%, matures 2020-01-19 |
| 2018-08-31 | Convertible note / loan, signed | LUMA Minerals LLC | — | — |