Investment Considerations
- West Vault owns 100% of the fully permitted Hasbrouck Gold Project in Nevada, offering immediate construction readiness in a world-class jurisdiction.
- The project demonstrates compelling “base case” economics, including a 51% after-tax IRR and US$206 million NPV at $1,790 gold, based on a 2023 Pre-feasibility Study.
- Proven and Probable Mineral Reserve of 753,000 oz in 44.02 million tons at a grade of 0.017 oz Au/ton.
- Large land package with multiple exploration targets.
- With an efficient corporate structure and a burn rate of approximately US$1 million per year, the company can maintain low-cost optionality.
- Management and insiders hold significant equity, aligning closely with shareholder interests and long-term value creation.
- The company is strategically positioned to benefit from a potential gold bull cycle, with zero near-term construction risk and full exposure to price upside.
West Vault Mining Inc. (TSX.V: WVM) (OTCQX: WVMDF) is a development-stage gold company focused on maximizing shareholder value through a low-risk, cash-conservative strategy. The company has followed a disciplined model of acquiring, advancing, and holding high-quality gold projects in premier jurisdictions, with the goal of monetizing these assets as market conditions become favorable. Its core emphasis is on controlling dilution and timing development decisions to optimize shareholder returns across the commodity cycle.
Since its formation following the successful C$424 million sale of West Timmins Mining in 2009, West Vault has remained laser-focused on opportunities in North America’s most prolific gold-bearing regions. This strategy has led to the acquisition and advancement of its flagship Hasbrouck Gold Project in Nevada, which is permitted and construction ready.
With a highly experienced management team and board that emphasize transparency, capital discipline, and long-term alignment with shareholders, West Vault is positioned as a unique vehicle offering exposure to gold price upside without the risks associated with early-stage construction.
The company is headquartered in Vancouver, British Columbia.
Project
West Vault controls a 100% interest in the Hasbrouck Gold Project, located between Tonopah and Goldfield in Nevada’s prolific Walker Lane Trend. The project comprises two primary oxide gold deposits—Three Hills and Hasbrouck—spanning a 10,500-acre land package. Both deposits are situated above the water table, with excellent infrastructure access including nearby grid power, highway connections, and water rights.
The company’s strategy is grounded in maintaining shovel-ready optionality. The most recent Pre-feasibility Study “base case”, completed in January 2023 by RESPEC Company LLC, reaffirmed the strength of the Hasbrouck Project, demonstrating an after-tax Net Present Value (NPV5%) of US$206 million and an Internal Rate of Return (IRR) of 51% at a gold price of $1,790/oz—well below current prices. In the Pre-feasibility Study sensitivity table, a $2,600/oz gold price resulted in an after-tax Net Present Value (NPV5%) of US$503 million and an Internal Rate of Return (IRR) of 110%. Phase 1 (Three Hills Mine) is expected to require a modest initial capital investment of US$66 million in 2023 dollars, with the Phase 2 (Hasbrouck Mine) development planned to be funded through free cash flow from Three Hills. Average gold production is projected at 71,000 ounces per year with an all-in sustaining cost (AISC) of US$877 per ounce.
The project benefits from a low strip ratio (1.1:1), no pre-stripping requirements at the first pit, and a simple run-of-mine heap leach process with a 75% average gold recovery based on 13 metallurgical test programs. In addition to its existing Mineral Reserves and Resources, West Vault retains strong exploration upside, including intercepts outside the current resource model and a 1% NSR royalty on properties adjacent to Hasbrouck, enhancing long-term value potential.
Market Opportunity
West Vault’s cash-conservative approach and construction-ready asset position the company to capitalize on favorable shifts in the gold market without taking on near-term development or financing risk.
According to J.P. Morgan Research, gold prices are forecast to average $3,675 per ounce by the fourth quarter of 2025 and trend toward $4,000 per ounce by mid-2026, driven by persistent geopolitical tensions, demand rebasing, and recessionary tailwinds. With its permitted status, minimal overhead, and leverage to gold price appreciation, West Vault is strategically positioned to benefit from these macroeconomic tailwinds.
Leadership Team
Peter Palmedo, Chairman and Director, is the founder and president of Sun Valley Gold LLC, where he has spent more than 25 years investing in precious metals as a strategic asset class. Prior to founding SVG, he was a principal at Morgan Stanley & Co., specializing in equity portfolio risk management and derivatives. He served as a director of Chesapeake Gold Corp. until 2013 and joined the board of West Vault in 2019.
Sandy McVey, Chief Executive Officer and Chief Operating Officer, is a Professional Mining Engineer and registered Project Management Professional with over 30 years of experience in underground and surface mine operations, heavy civil construction, and mine development. He joined West Vault Mining in 2012 to lead the advancement, permitting, and construction of the company’s projects and has been instrumental in acquiring and bringing the Hasbrouck Gold Project to a construction-ready state.
Frank Hallam, Chief Financial Officer and Corporate Secretary, is a Chartered Professional Accountant with more than 30 years of experience in the mining, minerals, and petroleum industries. He has served as an operator, principal, and founder of several TSX and NYSE American companies, including Platinum Group Metals, MAG Silver, and West Timmins Mining. He has raised over $2 billion in public offerings and been directly involved in numerous M&A transactions, including the C$424 million sale of West Timmins and the billion-dollar acquisition of Lake Shore Gold by Tahoe Resources.