Board Change • May 20
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 4 non-independent directors. Non-Executive Director Ryan Mount was the last director to join the board, commencing their role in 2025. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • May 01
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 4 non-independent directors. Non-Executive Director Ryan Mount was the last director to join the board, commencing their role in 2025. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Dec 24
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 4 non-independent directors. Non-Executive Director Ryan Mount was the last director to join the board, commencing their role in 2025. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Dec 06
Western Gold Resources Limited has completed a Follow-on Equity Offering in the amount of AUD 6.75 million. Western Gold Resources Limited has completed a Follow-on Equity Offering in the amount of AUD 6.75 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 25,805,973
Price\Range: AUD 0.12
Discount Per Security: AUD 0.0072
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 30,444,027
Price\Range: AUD 0.12
Discount Per Security: AUD 0.0072
Transaction Features: Subsequent Direct Listing Announcement • Dec 03
Western Gold Resources Limited has completed a Follow-on Equity Offering in the amount of AUD 0.112331 million. Western Gold Resources Limited has completed a Follow-on Equity Offering in the amount of AUD 0.112331 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 1,404,143
Price\Range: AUD 0.08
Discount Per Security: AUD 0.0032
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing Announcement • Oct 27
Western Gold Resources Limited, Annual General Meeting, Nov 28, 2025 Western Gold Resources Limited, Annual General Meeting, Nov 28, 2025. Location: at dla piper, level 21, 240 st georges terrace, perth 6000 Australia Announcement • Oct 07
Western Gold Resources Limited has filed a Follow-on Equity Offering in the amount of AUD 6.75 million. Western Gold Resources Limited has filed a Follow-on Equity Offering in the amount of AUD 6.75 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 56,250,000
Price\Range: AUD 0.12
Discount Per Security: AUD 0.0072
Transaction Features: Subsequent Direct Listing Announcement • Aug 18
Western Gold Resources Limited has filed a Follow-on Equity Offering in the amount of AUD 0.455648 million. Western Gold Resources Limited has filed a Follow-on Equity Offering in the amount of AUD 0.455648 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 5,695,605
Price\Range: AUD 0.08
Discount Per Security: AUD 0.0032
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing Board Change • Aug 18
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 4 non-independent directors. Non-Executive Director Ryan Mount was the last director to join the board, commencing their role in 2025. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • May 28
Harder Investments Limited agreed to acquire an unknown minority stake in Western Gold Resources Limited (ASX:WGR) from Incor Holdings Limited and Pangaea Resources Limited. Harder Investments Limited agreed to acquire an unknown minority stake in Western Gold Resources Limited (ASX:WGR) from Incor Holdings Limited and Pangaea Resources Limited on May 28, 2025.
The arrangement remains subject to approval of the Supreme Court of Western Australia. The Company is not a party to these proceedings or the associated share sale transaction.
GTT Ventures Pty Ltd acted as financial advisor to Incor and Pangaea. GTT will facilitate an orderly off-market transfer of the shares to third party recipients and remit the sale proceeds (net of fees) to Harder. Board Change • Feb 04
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 4 non-independent directors. Non-Executive Director Ryan Mount was the last director to join the board, commencing their role in 2025. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Jan 10
Western Gold Resources Limited has completed a Follow-on Equity Offering in the amount of AUD 0.72 million. Western Gold Resources Limited has completed a Follow-on Equity Offering in the amount of AUD 0.72 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 18,000,000
Price\Range: AUD 0.04
Discount Per Security: AUD 0.0024
Transaction Features: Subsequent Direct Listing Announcement • Jan 06
Western Gold Resources Limited Appoints Ryan Mount as Non Executive Director Western Gold Resources appointed Mr. Ryan Mount as a Non Executive Director and welcome Mr. Mount to the WGR board effective 6 January 2025. Mr. Mount provides significant experience with over 25 years in mining and finance industries combined. He has led mineral exploration and mining teams in Australia, Oceania, Asia and South America. He is currently the Chief Executive Officer of LeadFX Inc, where he is leading the restructure and the redevelopment of the Rosslyn Hill Lead Mine, just 30km north of the Gold Duke Project. Mr. Mount is also a Director of ASX Listed Excelsior Capital Limited and is member of the Australian Institute of Company Directors. Announcement • Dec 26
Western Gold Resources Limited Announces Managing Director Changes, Effective 31 December 2024 Western Gold Resources Limited announced that it has appointed Mr. Cullum Winn as the Company's new Managing Director effective 31 December 2024. Mr. Winn was recently appointed as Chief Executive Officer of the Company and replaces inaugural Managing Director Mr. Warren Thorne who resigned effective 31 December 2024. Mr. Winn provides significant production experience as the Company looks to transition into production at its 100% owned Gold Duke Project, located in Wiluna Western Australia. Mr. Winn's role as the Managing Director will remain similar to that of the Chief Executive Officer of the Company. Mr. Winn is a highly experienced mining engineer from the Western Australian School of Mines. He holds a Western Australian First Class Mine Manager's Certificate and is a member of the Australasian Institute of Mining and Metallurgy (AusIMM). With over 30 years of leadership and mining operations experience, Mr. Winn is well- positioned to lead the Company into its next phase of development. Most recently, Mr. Winn served as General Manager of Operations at Bald Hill for Lithco /Liatam Mining, where he played a key role in the successful ramp-up and stabilisation of operations to nameplate production. He advanced safety initiatives, ensured environmental compliance, and built strong, positive relationships with the Ngadju Native Title Corporation, the Ngadju people, and key stakeholders in the local community. Mr. Winn has held senior leadership roles at several prominent mining companies, including Newcrest Mining Limited, Westgold Resources Limited, Barrick Gold Corporation, and Norton Gold Fields. At Newcrest's Havieron Project, he played a significant role in both the internal and external approvals for the Early Works Stage. He worked closely with the Jamukurnu Yapalikurnu Aboriginal Corporation (JYAC) and the Martu people, ensuring the project aligned with community expectations and respected cultural values. Throughout his career, Mr. Winn has successfully managed various stages of mining operations, from early works and approvals through to start-up and ramp-up, as well as operation turn-arounds and re-starts. Known for his ability to build high-performing teams, he has consistently driven operational excellence while maintaining a strong focus on safety, sustainability, and community engagement. Announcement • Oct 30
Western Gold Resources Limited, Annual General Meeting, Nov 29, 2024 Western Gold Resources Limited, Annual General Meeting, Nov 29, 2024. Location: at level 4, 88 william street, perth wa 6000 Australia New Risk • Sep 13
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Earnings have declined by 47% per year over the past 5 years. Shareholders have been substantially diluted in the past year (67% increase in shares outstanding). Revenue is less than US$1m (AU$4.6k revenue, or US$3.1k). Market cap is less than US$10m (AU$5.28m market cap, or US$3.55m). Minor Risk Latest financial reports are more than 6 months old (reported December 2023 fiscal period end). Board Change • Jul 31
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. No highly experienced directors. No independent directors (3 non-independent directors). Non Executive Chairman Gary Lyons was the last director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Announcement • May 31
Western Gold Resources Limited announced that it has received $0.5 million in funding Western Gold Resources Limited announced a private placement that it has issued Convertible Notes with a face value of $1 per note each convertible into ordinary fully paid shares in the Company for the gross proceeds of $500,000 on May 29, 2024. The interest rate of the note is 12% per annum. The conversion price is to be the lesser of a 20% discount to the 5 day Volume Weighted Average Price immediately preceding the date of issue of the conversion notice by the Noteholder or a 20% discount to the share-price achieved for a capital raising conducted during the term of the note. The Convertible Notes have a term the earlier of 12 months or the next capital raise. The transaction is subject to the approval of the shareholder. Announcement • May 30
Western Gold Resources Limited has filed a Follow-on Equity Offering in the amount of AUD 0.5 million. Western Gold Resources Limited has filed a Follow-on Equity Offering in the amount of AUD 0.5 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 16,666,667
Price\Range: AUD 0.03
Discount Per Security: AUD 0.0018
Transaction Features: Subsequent Direct Listing Board Change • Apr 03
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. No highly experienced directors. No independent directors (4 non-independent directors). Non Executive Chairman Gary Lyons was the last director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Board Change • Mar 12
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. No highly experienced directors. No independent directors (4 non-independent directors). Non Executive Chairman Gary Lyons was the last director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Board Change • Feb 01
No independent directors There are 4 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 4 new directors. No experienced directors. No highly experienced directors. No independent directors (4 non-independent directors). MD & Executive Director Warren Thorne is the most experienced director on the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of experienced directors. Board Change • Jan 16
No independent directors There are 4 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 4 new directors. No experienced directors. No highly experienced directors. No independent directors (4 non-independent directors). MD & Executive Director Warren Thorne is the most experienced director on the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of experienced directors. Board Change • Nov 30
No independent directors There are 4 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 4 new directors. No experienced directors. No highly experienced directors. No independent directors (4 non-independent directors). MD & Executive Director Warren Thorne is the most experienced director on the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of experienced directors. Announcement • Nov 24
Western Gold Resources Limited (ASX:WGR) completed the acquisition of Holmtjarn REE, Loberget Graphite and Rullbo Graphite Projects. Western Gold Resources Limited (ASX:WGR) entered into a conditional agreement to acquire the Holmtjarn REE, Loberget Graphite and Rullbo Graphite Projects in Sweden for AUD 1.4 million on August 21, 2023. As part of the agreement, WGR will pay a cash payment of AUD 75,000; the issue of 17,250,000 shares; the issue of 8,500,000 performance rights each convertible into 1 share on the achievement, within 2 years of grant, of an exploration target of, or greater than 30-60Mt at 0.8-1.2% total rare earths oxides in relation to the area the subject of the permits; or 30-60Mt at 5-10% total graphite content in relation to the area the subject of the permits; and the issue of 8,500,000 performance rights each convertible into 1 share on the achievement, within 2 years of grant, of a drill intersection on one of the permits of at least 15 meters @ 10% total graphite content or 15 meters @ 0.5% total rare earth oxides. The transaction is conditional upon legal, financial and technical due diligence by WGR on EFM and the Projects; WGR obtaining all requisite shareholder and regulatory approvals for the acquisition; grant of the three permit applications and completion of the capital raising.
Western Gold Resources Limited (ASX:WGR) completed the acquisition of Holmtjarn REE, Loberget Graphite and Rullbo Graphite Projects in Sweden on November 22, 2023. The transaction got the approval from shareholder and regulatory approvals for theacquisition and all conditions precedent including legal, financial, and technical due diligence has completed. New Risk • Oct 24
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 68% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$1.9m free cash flow). Shares are highly illiquid. Earnings have declined by 41% per year over the past 5 years. Shareholders have been substantially diluted in the past year (68% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (AU$4.23m market cap, or US$2.69m). Board Change • Oct 23
No independent directors There are 4 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 4 new directors. No experienced directors. No highly experienced directors. No independent directors (4 non-independent directors). MD & Executive Director Warren Thorne is the most experienced director on the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of experienced directors. Announcement • Oct 12
Western Gold Resources Limited, Annual General Meeting, Nov 29, 2023 Western Gold Resources Limited, Annual General Meeting, Nov 29, 2023. Announcement • Sep 07
Western Gold Resources Limited, Annual General Meeting, Oct 09, 2023 Western Gold Resources Limited, Annual General Meeting, Oct 09, 2023, at 10:00 W. Australia Standard Time. Location: Level 3, 88 William Street, Perth Western WA Australia Agenda: To consider ratification of August Tranche 1 Placement Shares; to consider approval of August Tranche 2 Placement Shares; to consider approval to issue Acquisition Consideration Shares; to consider approval to issue Acquisition Consideration Performance Rights; to consider approval to issue Performance Rights to Warren Thorne; to consider approval to issue Performance Rights to Gary Lyons; to consider approval to issue Performance Rights to Teck Siong Wong; to consider approval to issue Performance Rights to Patrick Burke; to consider ratification of March Placement Shares; to consider approval to issue Shares to Gary Lyons; to consider approval to issue Shares to Teck Siong Wong ; and to consider approval to issue Shares to Patrick Burke. Announcement • Aug 22
Western Gold Resources Limited (ASX:WGR) entered into a conditional agreement to acquire the Holmtjarn REE, Loberget Graphite and Rullbo Graphite Projects in Sweden for AUD 1.4 million. Western Gold Resources Limited (ASX:WGR) entered into a conditional agreement to acquire the Holmtjarn REE, Loberget Graphite and Rullbo Graphite Projects in Sweden for AUD 1.4 million on August 21, 2023. As part of the agreement, WGR will pay a cash payment of AUD 75,000; the issue of 17,250,000 shares; the issue of 8,500,000 performance rights each convertible into 1 share on the achievement, within 2 years of grant, of an exploration target of, or greater than 30-60Mt at 0.8-1.2% total rare earths oxides in relation to the area the subject of the permits; or 30-60Mt at 5-10% total graphite content in relation to the area the subject of the permits; and the issue of 8,500,000 performance rights each convertible into 1 share on the achievement, within 2 years of grant, of a drill intersection on one of the permits of at least 15 meters @ 10% total graphite content or 15 meters @ 0.5% total rare earth oxides. The transaction is conditional upon legal, financial and technical due diligence by WGR on EFM and the Projects; WGR obtaining all requisite shareholder and regulatory approvals for the acquisition; grant of the three permit applications and completion of the capital raising. Board Change • Aug 21
No independent directors There are 4 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 4 new directors. No experienced directors. No highly experienced directors. No independent directors (4 non-independent directors). MD & Executive Director Warren Thorne is the most experienced director on the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of experienced directors. Board Change • Jun 20
No independent directors There are 4 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 4 new directors. No experienced directors. No highly experienced directors. No independent directors (4 non-independent directors). MD & Executive Director Warren Thorne is the most experienced director on the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of experienced directors. Board Change • Jun 02
No independent directors There are 4 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 4 new directors. No experienced directors. No highly experienced directors. No independent directors (4 non-independent directors). MD & Executive Director Warren Thorne is the most experienced director on the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of experienced directors. Board Change • May 05
No independent directors There are 4 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 4 new directors. No experienced directors. No highly experienced directors. No independent directors (4 non-independent directors). MD & Executive Director Warren Thorne is the most experienced director on the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of experienced directors. Board Change • Apr 20
No independent directors There are 4 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 4 new directors. No experienced directors. No highly experienced directors. No independent directors (4 non-independent directors). MD & Executive Director Warren Thorne is the most experienced director on the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of experienced directors. Board Change • Feb 23
No independent directors There are 4 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 4 new directors. No experienced directors. No highly experienced directors. No independent directors (4 non-independent directors). MD & Executive Director Warren Thorne is the most experienced director on the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of experienced directors. Announcement • Feb 04
Western Gold Resources Limited Announces Change in Company Secretary Western Gold Resources Limited announced that the Board has appointed Mr. Sonu Cheema as Company Secretary. Mr. Mark Pitts has provided the Company with his resignation as Company Secretary. Mr. Pitts was appointed to the role of Company Secretary on 30 August 2012. The Directors have invited Mr. Sonu Cheema to undertake the role of Company Secretary. Mr. Cheema is an Accountant and Company Secretary who has worked for mineral exploration companies with interests in Australia and abroad. He is a Partner in the corporate advisory firm Cicero Group providing company secretarial support along with corporate and compliance advice to a number of ASX listed public companies. Board Change • Jan 30
No independent directors There are 4 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 4 new directors. No experienced directors. No highly experienced directors. No independent directors (4 non-independent directors). MD & Executive Director Warren Thorne is the most experienced director on the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of experienced directors. Board Change • Oct 29
No independent directors There are 4 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 4 new directors. No experienced directors. No highly experienced directors. No independent directors (4 non-independent directors). MD & Executive Director Warren Thorne is the most experienced director on the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of experienced directors. 
