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Independence Gold Corp

www: www.ingold.ca   email: info@ingold.ca
Category: Junior: Project Generator
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Symbol Data

Symbol Currency
CVE:IGO CAD
OTCMKTS:IEGCF USD

Description

Independence Gold Corp are a gold focused junior, project generator with five exploration properties in Canada. They have approximately 0.8Moz. of gold in the reserves and resources category of which 0.4Moz. are in the measured and indicated category. They have a market capitalisation of ~C$23.63M which is a fall of roughly 19% over the last three months. As of 12/27/2025 they have no debt and ~C$2.82M cash. They have 297M shares outstanding and trade on the Canadian Venture Exchange and the over-the-counter markets.

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General Details

Financial 12/27/2025
Last
Analysis
Data
Current Data
Item Value Value Updated
MCap (FD): $29.33M $23.63M 12/27/2025
MCap (OS): $23.88M $19.24M 12/27/2025
Total Assets: $6.38M $6.28M 12/27/2025
Total Liabilities: $0.37M $0.36M 12/27/2025
Current Assets: $3.05M $3.00M 12/27/2025
Current Liabilities: $0.32M $0.32M 12/27/2025
Total Debt: $0.00M $0.00M 12/27/2025
Cash: $2.87M $2.82M 12/27/2025
Debt (Net): $-2.87M $-2.82M
Enterprise Value: $26.47M $20.81M
Cash Flow: $0.00M $0.00M never
Cash Flow Multiple: 0.00 0.00 never
Net Debt to
Cash Flow Ratio:		 n/a n/a never
Finance within 1 year: 12/27/2025
Misc 12/27/2025
Last
Analysis
Data
Current Data
Item Value Value Updated
Shares Outstanding: 297,016,603 297,016,603 12/27/2025
Shares (FD): 364,833,720 364,833,720 12/27/2025
Insider Ownership: 20% 20% 03/26/2026
Dividend (Annual): n/a n/a 03/26/2026
Company Type: Mostly Gold Mostly Gold never
Group: Explorer Explorer never
Production ETA: n/a n/a 12/27/2025
Production (Gold Eq Oz.): (guess) 
0		 (guess) 
0		 12/27/2025
Production (Silver Eq Oz.): (guess) 
0		 (guess) 
0		 12/27/2025
Development Phase: none none 12/27/2025
Optionality Play: none No
F
U
T
U
R
E		 % of Spot: 2
PG/Explorer: Average Project
 2
PG/Explorer: Average Project
 12/27/2025
Cash Flow Multiple: none none 12/27/2025

Resource Data

GOLD 12/27/2025
Last Analysis Data
Current Data
Item Value Value Updated
O
U
N
C
E
S		 T
O
T
A
L
 Proven & Probable: n/a n/a 12/27/2025
Measured & Indicated: 0.00M 0.40M 03/26/2026
Inferred: 0.70M 0.40M 03/26/2026
Reserves & Resources: 0.70M 0.80M never
P
L
A
U
S
I
B
L
E		 Proven & Probable: n/a n/a 12/27/2025
Measured & Indicated: 0.00M 0.24M 03/26/2026
Inferred: 0.26M 0.15M 03/26/2026
Reserves & Resources: 0.26M 0.39M never
C
U
R
R
E
N
T		 Annual Production: n/a n/a
Cash Cost: $750 $750 12/27/2025
Extra Operating Cost: $350 $350 12/27/2025
Total: $1,100 $1,100 12/27/2025
Margin (Free Cash Flow): n/a
MCap / Production (AuEq): n/a n/a
EV / Production (AuEq): n/a n/a
G
R
A
D
E		 Underground (Avg): 4.00 g/t 4.00 g/t 12/27/2025
Open Pit (Avg): n/a n/a 12/27/2025
Recovery Rate: (guess)  75.00% (guess)  75.00% 12/27/2025
F
U
T
U
R
E		 Proven & Probable: 1.50M 1.00M 03/26/2026
Annual Production: n/a n/a 12/27/2025
Cash Cost: n/a n/a 12/27/2025
Extra Operating Cost: n/a n/a 12/27/2025
SILVER 12/27/2025
Last Analysis Data
Current Data
Item Value Value Updated
O
U
N
C
E
S		 T
O
T
A
L
 Proven & Probable: n/a n/a 12/27/2025
Measured & Indicated: n/a n/a 12/27/2025
Inferred: n/a n/a 12/27/2025
Reserves & Resources: n/a n/a never
P
L
A
U
S
I
B
L
E		 Proven & Probable: n/a n/a 12/27/2025
Measured & Indicated: n/a n/a 12/27/2025
Inferred: n/a n/a 12/27/2025
Reserves & Resources: n/a n/a never
C
U
R
R
E
N
T		 Annual Production: n/a n/a
Cash Cost: n/a n/a 12/27/2025
Extra Operating Cost: n/a n/a 12/27/2025
Total: n/a n/a 12/27/2025
Margin (Free Cash Flow): n/a
MCap / Production (AgEq): n/a n/a
EV / Production (AgEq): n/a n/a
G
R
A
D
E		 Underground (Avg): n/a n/a 12/27/2025
Open Pit (Avg): n/a n/a 12/27/2025
Recovery Rate: n/a n/a 12/27/2025
F
U
T
U
R
E		 Proven & Probable: n/a n/a 12/27/2025
Annual Production: n/a n/a 12/27/2025
Cash Cost: n/a n/a 12/27/2025
Extra Operating Cost: n/a n/a 12/27/2025

Property

Last Analysis Data  (12/27/2025)
Stage Name Owned
%		 NPV
$M		 IRR
%		 CapEx
$M		 Au Ag Cu Notes
Exp 3Ts
100 show
This their most advanced project with 500,000 of gold equivalent (including silver).

Good grades.

10 million oz of silver for offsets.

Size: 5,200 ha
Exp Boulevard
100 show
Next to Coffee deposit

Size: 20,000 ha
Exp Merit
60 show
Option with Almadex was terminated and property relinquished

Size: 1,907 ha
Exp Moosehorn
100 show
Early exploration property in the Yukon.

Size: 1,800 ha
Exp Nicoamen
60 show
Option with Almadex was terminated and property relinquished

Size: 3,332 ha
Current Data
Stage Name Owned
%		 NPV
$M		 IRR
%		 CapEx
$M		 Au Ag Cu Notes
Exp 3Ts
100 show
This their most advanced project with 500,000 of gold equivalent (including silver).

Good grades.

10 million oz of silver for offsets.

Size: 5,200 ha
Exp Boulevard
100 show
Next to Coffee deposit

Size: 20,000 ha
Exp Merit
60 show
Option with Almadex was terminated and property relinquished

Size: 1,907 ha
Exp Moosehorn
100 show
Early exploration property in the Yukon.

Size: 1,800 ha
Exp Nicoamen
60 show
Option with Almadex was terminated and property relinquished

Size: 3,332 ha

Profitability (by resource)

Proven &
Probable		 12/27/2025
Last Analysis Data
Current Data
Item Value Value Updated
Percentage Gold: n/a n/a n/a
Percentage Silver: n/a n/a n/a
Total (Gold Eq. Oz.): n/a n/a n/a
Total (Silver Eq. Oz.): n/a n/a n/a
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: n/a n/a n/a
Silver Eq. Oz.: n/a n/a n/a
Maximum Profit (Gold): n/a n/a n/a
Maximum Profit (Silver): n/a n/a n/a
Total Maximum Profit: n/a n/a n/a
Max Profit / Current MCap: n/a n/a n/a
Max Profit Per Share (Gold): n/a n/a n/a
Max Profit Per Share (Silver): n/a n/a n/a
Total Max Profit Per Share: n/a n/a n/a
Total Free Profit Per Share: n/a n/a n/a
FD MCap / Gold Eq.: n/a n/a n/a
FD MCap / Silver Eq.: n/a n/a n/a
FD MCap / Per Metal
as % Spot Price:		 n/a n/a n/a
EV / Gold Eq.: n/a n/a n/a
EV / Silver Eq.: n/a n/a n/a
EV / Per Metal
as % Spot Price:		 n/a n/a n/a
Measured &
Indicated		 12/27/2025
Last Analysis Data
Current Data
Item Value Value Updated
Percentage Gold: n/a 100.00% n/a
Percentage Silver: n/a n/a n/a
Total (Gold Eq. Oz.): n/a 0.40M n/a
Total (Silver Eq. Oz.): n/a n/a n/a
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: n/a 0.24M n/a
Silver Eq. Oz.: n/a n/a n/a
Maximum Profit (Gold): n/a $881.29M n/a
Maximum Profit (Silver): n/a n/a n/a
Total Maximum Profit: n/a $881.29M n/a
Max Profit / Current MCap: n/a 37.299 n/a
Max Profit Per Share (Gold): n/a $2.42 n/a
Max Profit Per Share (Silver): n/a n/a n/a
Total Max Profit Per Share: n/a $2.42 n/a
Total Free Profit Per Share: n/a $2.33 n/a
FD MCap / Gold Eq.: n/a $98.45 n/a
FD MCap / Silver Eq.: n/a $1.55 n/a
FD MCap / Per Metal
as % Spot Price:		 n/a 2.06% n/a
EV / Gold Eq.: n/a $86.69 n/a
EV / Silver Eq.: n/a $1.37 n/a
EV / Per Metal
as % Spot Price:		 n/a 1.82% n/a

Reserves &
Resources		 12/27/2025
Last Analysis Data
Current Data
Item Value Value Updated
Percentage Gold: 100.00% 100.00% n/a
Percentage Silver: n/a n/a n/a
Total (Gold Eq. Oz.): 0.70M 0.80M n/a
Total (Silver Eq. Oz.): n/a n/a n/a
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 0.26M 0.39M n/a
Silver Eq. Oz.: n/a n/a n/a
Maximum Profit (Gold): $890.43M $1,432.10M n/a
Maximum Profit (Silver): n/a n/a n/a
Total Maximum Profit: $890.43M $1,432.10M n/a
Max Profit / Current MCap: 30.358 60.611 n/a
Max Profit Per Share (Gold): $2.44 $3.93 n/a
Max Profit Per Share (Silver): n/a n/a n/a
Total Max Profit Per Share: $2.44 $3.93 n/a
Total Free Profit Per Share: $2.33 $3.84 n/a
FD MCap / Gold Eq.: $111.74 $60.58 n/a
FD MCap / Silver Eq.: $1.92 $0.96 n/a
FD MCap / Per Metal
as % Spot Price:		 2.49% 1.27% n/a
EV / Gold Eq.: $100.82 $53.35 n/a
EV / Silver Eq.: $1.73 $0.84 n/a
EV / Per Metal
as % Spot Price:		 2.24% 1.12% n/a

Future Valuation (Cash Flow & Totals)

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