Key takeaways Upside Gold is developing the Kena Gold Project, near the town of Nelson in the Kootenays region of southern British Columbia. Kena hosts a historical gold resource of 3.33 million ounces (561,000 ounces Indicated and 2.77 million ounces Inferred) across a 10,200-hectare land package.

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Independence Gold Corp. Competitors

Price History & Performance

Summary of share price highs, lows and changes for Independence Gold
Historical stock prices
Current Share Price	CA$0.10
52 Week High	CA$0.21
52 Week Low	CA$0.08
Beta	0.27
1 Month Change	16.67%
3 Month Change	5.00%
1 Year Change	-27.59%
3 Year Change	-30.00%
5 Year Change	-27.59%
Change since IPO	-75.58%

Recent updates

Analysis Article • Apr 24

Independence Gold (CVE:IGO) Is In A Good Position To Deliver On Growth Plans

We can readily understand why investors are attracted to unprofitable companies. For example, although Amazon.com made...

Analysis Article • Aug 16

We're Keeping An Eye On Independence Gold's (CVE:IGO) Cash Burn Rate

There's no doubt that money can be made by owning shares of unprofitable businesses. For example, although...

Analysis Article • May 03

Is Independence Gold (CVE:IGO) In A Good Position To Deliver On Growth Plans?

We can readily understand why investors are attracted to unprofitable companies. For example, although Amazon.com made...

Shareholder Returns

	IGO	CA Metals and Mining	CA Market
7D	5.0%	6.2%	2.3%
1Y	-27.6%	90.9%	34.5%

Return vs Industry: IGO underperformed the Canadian Metals and Mining industry which returned 77.2% over the past year.

Return vs Market: IGO underperformed the Canadian Market which returned 34.7% over the past year.

Price Volatility

Is IGO's price volatile compared to industry and market?
IGO volatility
IGO Average Weekly Movement	10.1%
Metals and Mining Industry Average Movement	12.0%
Market Average Movement	10.3%
10% most volatile stocks in CA Market	17.8%
10% least volatile stocks in CA Market	4.0%

Stable Share Price: IGO has not had significant price volatility in the past 3 months compared to the Canadian market.

Volatility Over Time: IGO's weekly volatility (10%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
2011	n/a	Randy Turner	www.ingold.ca

Independence Gold Corp. engages in the acquisition, exploration, and evaluation of precious metal properties in North America. It explores for gold and silver deposits. The company holds 100% interests in the 3Ts project comprising eight contiguous claim groups that consist of thirty-one mineral claims covering an area of approximately 35,486 hectares located in the Nechako Plateau region of central British Columbia; and Boulevard project comprising four contiguous properties, which includes 958 quartz mining claims covering an area of approximately 19,960 hectares located in the Whitehorse Mining district, Yukon.

Independence Gold Corp. Fundamentals Summary

How do Independence Gold's earnings and revenue compare to its market cap?
IGO fundamental statistics
Market cap	CA$26.39m
Earnings (TTM)	-CA$6.04m
Revenue (TTM)	n/a

0.0x

P/S Ratio

-4.6x

P/E Ratio

Is IGO overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
IGO income statement (TTM)
Revenue	CA$0
Cost of Revenue	CA$0
Gross Profit	CA$0
Other Expenses	CA$6.04m
Earnings	-CA$6.04m

Last Reported Earnings

Dec 31, 2025

Next Earnings Date

n/a

Earnings per share (EPS)	-0.023
Gross Margin	0.00%
Net Profit Margin	0.00%
Debt/Equity Ratio	0%

How did IGO perform over the long term?

See historical performance and comparison

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2026/05/06 22:25
End of Day Share Price	2026/05/06 00:00
Earnings	2025/12/31
Annual Earnings	2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Independence Gold Corp. is covered by 1 analysts. 0 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Michael Curran	Beacon Securities Limited

Independence Gold (IGO) Stock Overview

Risk Analysis

An Undervalued 3.3Moz Gold Project in Canada

Independence Gold Corp. Competitors

Riverside Resources

Star Diamond

Ridgeline Minerals

DRC Gold

Price History & Performance

Recent News & Updates

New minor risk - Shareholder dilution

Independence Gold Corp. announced that it has received CAD 0.75 million in funding

Independence Gold Corp. announced that it expects to receive CAD 0.75 million in funding

Independence Gold Corp. Files Updated National Instrument 43-101 Resource Report for the 3Ts Gold and Silver Project, Bc

New minor risk - Share price stability

Independence Gold Corp. announced that it expects to receive CAD 5 million in funding

Recent updates

New minor risk - Shareholder dilution

Independence Gold Corp. announced that it has received CAD 0.75 million in funding

Independence Gold Corp. announced that it expects to receive CAD 0.75 million in funding

Independence Gold Corp. Files Updated National Instrument 43-101 Resource Report for the 3Ts Gold and Silver Project, Bc

New minor risk - Share price stability

Independence Gold Corp. announced that it expects to receive CAD 5 million in funding

New minor risk - Share price stability

Independence Gold Corp., Annual General Meeting, Sep 23, 2025

New major risk - Financial position

Independence Gold (CVE:IGO) Is In A Good Position To Deliver On Growth Plans

Independence Gold Corp. Expands Winter Drill Program to 13,000 Metres

New major risk - Shareholder dilution

Independence Gold Corp. Announces Assay Results from the First Phase of the 10,000 Metre Winter Drill Program At Its 100% Owned 3Ts Project

Independence Gold Corp. announced that it has received CAD 1.99999 million in funding

Independence Gold Corp. announced that it expects to receive CAD 2 million in funding

President exercised options to buy CA$153k worth of stock.

Independent Director exercised options to buy CA$135k worth of stock.

Independence Gold Corp. announced that it has received CAD 6.649999 million in funding

Independence Gold Corp., Annual General Meeting, Dec 18, 2024

Independence Gold Corp. announced that it expects to receive CAD 3.0008 million in funding

We're Keeping An Eye On Independence Gold's (CVE:IGO) Cash Burn Rate

Independence Gold Expands the Spring Drill Program At 3Ts Project, BC

Is Independence Gold (CVE:IGO) In A Good Position To Deliver On Growth Plans?

Independence Gold Corp. Announces Assay Results from the Fall Trenching Program At Its 100% Owned 3Ts Project as Well as the Staking of 36.40 Square Kilometres ("Km2") of Mineral Tenure Immediately Adjacent to the Southern Boundary of the Project

Independence Gold Corp. Announces the First Assay Results from Drilling Carried Out on the Mint Vein System at its 100% Owned 3Ts Project

Independence Gold Corp. announced that it has received CAD 1 million in funding

Independence Gold Corp. announced that it expects to receive CAD 1 million in funding

New major risk - Shareholder dilution

Independence Gold Corp. announced that it has received CAD 2.6 million in funding

Independence Gold Corp. announced that it expects to receive CAD 1.5 million in funding

Independence Gold Commences 2,000 Metre Drill Program At the 3Ts Project, BC

Independence Gold Corp., Annual General Meeting, Nov 02, 2023

Independence Gold Corp. Independence Gold Intersects 5.50 Metres Grading 3.17 G/T Gold and 85.64 G/T Silver and Discovers Copper Mineralization At the 3Ts Project, Bc

Independence Gold Corp. Announces Assay Results from Ian Vein Discovered During its 4,000 Metre Drill Program at its 100% Owned 3Ts Project

Independence Gold Corp. announced that it expects to receive CAD 1.5 million in funding

President exercised options to buy CA$78k worth of stock.

Independence Gold Corp. Discovers New Veins returning up to 7.71 g/t Gold and 253 g/t Silver atthe 3Ts Project, BC

Independence Gold Corp. announced that it has received CAD 1.6 million in funding

Independence Gold Corp. announced that it expects to receive CAD 1.3 million in funding

Insufficient new directors

Independence Gold Corp. Commences Fall Exploration at the 3Ts Project, BC

Independence Gold Corp., Annual General Meeting, Nov 02, 2022

Independence Gold Corp. Announces the Final Assay Results from Its 4,200 Metre Winter Drill Program At Its 100% Owned 3Ts Project

Independence Gold Corp. Announces Additional Assay Results from Winter Drill Program At Its 100% Owned 3Ts Project

Independence Gold Intersects 30.10 Metres Grading 4.99 G/T Gold and 53.3 G/T Silver from the Tommy Vein At the 3Ts Project, BC

Insufficient new directors

Independence Gold Commences 4,200 Metre Drill Program At 3Ts Project, BC

Independence Gold Corp. announced that it expects to receive CAD 1.5 million in funding

Independence Gold Corp. Gives Exploration Update At the 3Ts Property, BC

Independence Gold Corp. Intersects 36.15 Metres Grading 4.48 g/t Gold and 61.64 g/t Silver at the 3Ts Property, BC

Independence Gold Intersects 37.00 Metres Grading 2.45 G/T Gold and 29.36 G/T Silver from the Tommy Vein and Provides Exploration Update at the 3Ts Property, BC

Independence Gold Corp. Recovers Up to 97.9% Gold from 3Ts Property, British Columbia

Independence Gold Corp. Commences Drilling At 3Ts Project, B.C

Independence Gold Corp. Reports Assay Results from Two Drillholes Completed on Its 100% Owned 3Ts Project

Independence Gold Corp Reports Assay Results from the First Two Drillholes of A Ten Hole, 2,034 Metre Diamond Drilling Program Recently Completed on Its 100% Owned 3Ts Project

Independence Gold Corp Commences Exploration Work on the Merit and Nicoamen Properties

Independence Gold Corp. Announces Grades of Up to 7.69 g/t Gold and 447 g/t Silver at Surface on the Merit Property, British Columbia

Independence Gold Corp. announced that it has received CAD 1 million in funding from Goldcorp Inc.

Independence Gold Corp. announced that it expects to receive CAD 1 million in funding

Shareholder Returns

Price Volatility

About the Company

Independence Gold Corp. Fundamentals Summary