White Gold Corp (TSXV:WGO) - Delivers PEA Alongside Drilling Programme and Spin-Out Catalysts

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White Gold Corp says its long-awaited Yukon PEA now puts hard economics on the flagship: after-tax NPV(5%) of C$1.86bn and 41% IRR at US$3,600/oz gold, rising to C$2.9bn NPV and 56% IRR at US$4,500/oz. The plan is a conventional open-pit, carbon-in-leach operation at 12,000t/d, targeting ~188,000oz/yr over a 9.4-year mine life with AISC of US$1,482/oz and initial capex of C$1.002bn. Management framed the study as deliberately conservative: first-year output was derated to 85% of nameplate, full infrastructure was included, and the mine plan uses only about 60% of the current 3Moz resource base. That leaves scope for resource growth and potential upside if drilling converts additional ounces or improves the schedule. The interview also highlighted spin-out catalysts and an expanded drilling program as the next equity re-rating drivers. For gold desks, the read-through is more equity/valuation than bullion-price sensitive, but it reinforces how leveraged Yukon developers remain to spot gold above US$3,000/oz. Near term, the key catalysts are drilling results, any resource expansion, and whether the market starts to price in development optionality versus execution/capex risk. The main uncertainty remains funding and build-out complexity for a large remote project.