Companies · Mining & Resources

Bullfrog Gold Corp.

VANCOUVER · Mining & Resources · refined from filed group “Other

Diligence memoA one-page analyst read on Bullfrog Gold Corp. — recommendation, valuation, rhythm, risks.
$11.9M
Total raised · real
7
Rounds
1.8×
Latest step-up
Top 17%
Sector rank · raised
Seed
Latest stage · inferred · Thu Mar 04 2021 00:00:00 GMT+0000 (Coordinated Universal Time)

Bullfrog Gold Corp. looks over-valued against its niche peers and is dormant on financing cadence.

Synthesized from the figures below est. — every claim rests on a number shown on this page. Valuation uses the extractive sector profile.

Analyst read est. — computed against this company's niche peers in the same era. Inputs shown; not a quoted figure.

Over-valued
  • Modeled value is 3.08× the median modeled value of Seed Mining & Resources companies in 2019–2021 (47 peers) — value vs value, same stage and era.
Dormant
  • Last raise 5.3 yr ago; this sector typically re-raises about every 11 months.
  • Silent for over 3× the sector's normal cadence.
Leadership

No named principal in this company's public records yet — see all operators below.

Explore how these operators interlock with other companies in the operator network.

Where it sits in Mining & Resources

Bullfrog Gold Corp. is one of 701 Mining & Resources companies tracked from VANCOUVER. By capital raised it ranks in the upper tier (ahead of 84% of sector peers), and in the upper tier by modeled valuation est..

Ranking is computed against this company's own sector cohort — reported capital is fact; valuation tiers are modeled.

As reported in public records reported — not modeled.

US
Jurisdiction
Rule 506(b)
Reg D exemption
5
Investors (latest)
2021-03-04
First sale
Amount raised vs valuation, by round

Solid bars are reported offering amounts reported; hatched bars are the modeled post-money valuation est. — both on one shared scale so you can read raise-vs-worth at each round directly. Use the toggles to overlay data labels and the niche-peer / market average value lines.

Amount raised · realModeled valuation · estCumulative funded · real
$0$5.0M$10M$15M$20MSeed · 2011-09-30 Raised $3.7M (real) Modeled valuation $20M (est)Seed2011Seed · 2012-11-19 Raised $1.3M (real) Modeled valuation $7.2M (est)Seed2012Seed · 2014-04-25 Raised $220K (real) Modeled valuation $1.2M (est)Seed2014Seed · 2019-02-11 Raised $835K (real) Modeled valuation $4.5M (est)Seed2019Seed · 2019-03-27 Raised $292K (real) Modeled valuation $1.6M (est)Seed2019Seed · 2020-01-16 Raised $2.0M (real) Modeled valuation $11M (est)Seed2020Seed · 2020-01-16 Raised $2.0M (real) Modeled valuation $11M (est)Seed2020Seed · 2021-03-04 Raised $3.5M (real) Modeled valuation $17M (est)Seed2021+$1.3M+$220K+$835K+$292K+$2.0M+$2.0M+$3.5MCumulative $14M

The line shows cumulative reported funding over the period; + labels show new capital added between points when there is room. Toggle on-bar figures, plus the niche-peer and market averages, to read this company against its cohort. Benchmarks are modeled medians.

Financing ladder & sequence gaps
Seed$3.7M · 2011
Seed extension$1.3M · 2012
Seed extension$220K · 2014
Seed extension$835K · 2019
Seed extension$292K · 2019
Seed extension$2.0M · 2020
Seed extension$2.0M · 2020
Seed extension$3.5M · 2021

Stages are modeled from round size (public records carry no series label). No record for: Pre-Seed — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 50%.

Modeled valuation trajectory
$16.9M
Base estimate est.
$3.0M
Conservative case
$110.8M
Upside case
$17.7M
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Seeda $1.0M–$4.0M round). Valuation is modeled from stage benchmarks scaled by the extractive sector profile. Directional, not a quoted figure.

Seed · modeled $19.6M · 2011-09-302011Seed · modeled $7.2M · 2012-11-19Seed · modeled $1.2M · 2014-04-25Seed · modeled $4.5M · 2019-02-11Seed · modeled $1.6M · 2019-03-27Seed · modeled $10.7M · 2020-01-16Seed · modeled $10.7M · 2020-01-16Seed · modeled $16.9M · 2021-03-042021
Model inputs · modeled:benchmark-stage-stepup-v1
20%
Dilution assumption
Implied ownership sold in the financing.
38%
Survival probability
17% low · 59% high
1.19×/yr
Annual markup
1.56×/yr upside case
5.3 yr
Elapsed time used
5.3 yr actual, capped for stale marks
extractive
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
16 mo
Avg between rounds
$1.3M/yr
Capital velocity
14.8 yr
On record since
2011
First round
8
Rounds on file
How it compares to the market

Benchmarked against 701 companies in Mining & Resources. Each bar is a median (the middle company, not an average — outliers don't skew it). Two yardsticks: real money raised (reported on Form D) and modeled value (our estimate est.). These are whole-sector medians across all stages, except the per-stage row.

Total raised — vs sector median (real $, all stages) 5.2× above median
This company$11.9M
Sector median$2.3M
Latest round — vs other Seed rounds in sector (real $, this stage) 3.4× above median
This company$3.5M
Sector median$1.1M
Modeled value — vs sector median (estimate, all stages) 6.7× above median
This company$16.9M
Sector median$2.5M

Raised more than 84% of sector peers (real $). Modeled value above 85% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Seed) that last raised in the same ~3-year era, ranked by modeled value est. (not money raised). This is the exact set the analyst read compares against, so a like-for-like cohort is what makes "over/under-valued" meaningful. This company ranks #2 of 47.

This companyCohort peer
$1.0M$10.0M$100.0M$1.0M$10.0M$100.0MCapital raised (log)Millennial Silver Corp. · Seed Raised $4.5M · modeled $17.1M (est)Digital Carpenters Mining LLC · Seed Raised $3.5M · modeled $16.8M (est)Harfang Exploration Inc. · Seed Raised $3.9M · modeled $16.4M (est)GARNEX GOLD Corp · Seed Raised $3.0M · modeled $16.1M (est)Ely Gold Royalties, Inc. · Seed Raised $4.9M · modeled $13.2M (est)Levitated Metals Holdings, LLC · Seed Raised $2.4M · modeled $12.9M (est)StrikePoint Gold Inc. · Seed Raised $2.5M · modeled $12.8M (est)Digital Gold Innovation Technologies Private Ltd · Seed Raised $3.0M · modeled $12.7M (est)Azimut Exploration Inc. · Seed Raised $4.1M · modeled $11.6M (est)Minaurum Gold Inc. · Seed Raised $2.9M · modeled $11.1M (est)American Pacific Mining Corp · Seed Raised $5.2M · modeled $10.1M (est)Bullfrog Gold Corp. (this company) Raised $11.9M · modeled $16.9M (est)Bullfrog Gold Corp.
CompanyStageRaised · realValue · estvs peer med.
Millennial Silver Corp.Seed$4.5M$17.1M3.11×
Bullfrog Gold Corp. this companySeed$11.9M$16.9M3.08×
Digital Carpenters Mining LLCSeed$3.5M$16.8M3.04×
Harfang Exploration Inc.Seed$3.9M$16.4M2.98×
GARNEX GOLD CorpSeed$3.0M$16.1M2.92×
Ely Gold Royalties, Inc.Seed$4.9M$13.2M2.39×
Levitated Metals Holdings, LLCSeed$2.4M$12.9M2.35×
StrikePoint Gold Inc.Seed$2.5M$12.8M2.33×
Digital Gold Innovation Technologies Private LtdSeed$3.0M$12.7M2.31×
Azimut Exploration Inc.Seed$4.1M$11.6M2.10×
Minaurum Gold Inc.Seed$2.9M$11.1M2.02×
American Pacific Mining CorpSeed$5.2M$10.1M1.83×
Full financing history

Stage is inferred from round size est., not reported on the filing — a round's dollar size maps to a bucket: Pre-Seed <$1.0M · Seed $1.0M–$4.0M · Series A $4.0M–$15M · Series B $15M–$40M · Series C $40M–$100M · Series D+ $100M–$400M · Growth/Late >$400M.

StageAmount · realAnnouncedPost-money · estValue · estConf.
Seed$3.7M2011-09-30$18.3M$19.6M85%
Seed$1.3M2012-11-19$6.7M$7.2M85%
Seed$220K2014-04-25$1.1M$1.2M85%
Seed$835K2019-02-11$4.2M$4.5M90%
Seed$292K2019-03-27$1.5M$1.6M90%
Seed$2.0M2020-01-16$10.0M$10.7M90%
Seed$2.0M2020-01-16$10.0M$10.7M90%
Seed$3.5M2021-03-04$17.7M$16.9M90%
What happened at each round

Step-up, pace versus the sector's normal cadence, and revenue/exemption moves — read straight from the reported round facts reported.

  1. Seed$3.7M2011-09-30
    • First recorded raise — entered as Seed.
    • 42 investors on this round.
  2. Seed$1.3M2012-11-19
    • Raised 14 mo later, in step with the ~11 mo sector norm.
    • Round 2.7× smaller than the prior — bridge or down round.
    • 8 investors on this round.
  3. Seed$220K2014-04-25
    • Raised again after 17 mo — slower than the ~11 mo sector norm.
    • Round 6.1× smaller than the prior — bridge or down round.
    • Switched to Rule 506(b) (was Rule 06).
    • 1 investor on this round.
  4. Seed$835K2019-02-11
    • Raised again after 58 mo — slower than the ~11 mo sector norm.
    • Round 3.8× larger than the prior — scaling up.
    • 9 investors on this round.
  5. Seed$292K2019-03-27
    • Came back fast: 1 mo vs the ~11 mo sector norm.
    • Round 2.9× smaller than the prior — bridge or down round.
    • 9 investors on this round.
  6. Seed$2.0M2020-01-16
    • Raised 10 mo later, in step with the ~11 mo sector norm.
    • Round 6.8× larger than the prior — scaling up.
    • 33 investors on this round.
  7. Seed$2.0M2020-01-16
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round roughly the size of the prior one.
    • 33 investors on this round.
  8. Seed$3.5M2021-03-04
    • Raised 14 mo later, in step with the ~11 mo sector norm.
    • Round 1.8× larger than the prior — scaling up.
    • 5 investors on this round.
Intelligence
2022 ~Q3
Modeled next raise · ~16mo cadence
$6.3M
Modeled next size est.range $4.1M$10.1M
1.8×
Last step-up
$1.3M/yr
Capital velocity

Predictive signals are modeled est. from this company's own cadence and step-up, plus sector benchmarks — directional, not advice. Peer set and a CSV export live in your analyst workspace.

Key people & operators

Officers, directors and promoters named in this company's public recordsreported — the people who run it (not its investors). "Also runs" counts come from name-matching across all records, so verify before acting.

PersonRoleAlso runsTied since
Donald R. Taylor4 other2021-03
Maryse Belanger3 other2021-03
ALAN LINDSAY1 other2011-09
Kjeld Thygesen1 other2019-02
Lenard R. Boggio1 other2021-03
Purni Parikh1 other2021-03
Richard Warke1 other2021-03
Daniel Earle2021-03
David Beling2011-09
John Boehner2021-03
Johnny Pappas2021-03
Lynette Gould2021-03
Michael McClelland2021-03
Poonam Puri2021-03
Scott Burkett2021-03
Tom Ladner2021-03
Registry & provenance

Bullfrog Gold Corp. is an official record sourced from the U.S. Securities and Exchange Commission (SEC). U.S. data is aggregated from SEC Form D filings.

United States
Country of record
US
Jurisdiction
1448597
SEC CIK
Similar companies

Nearest neighbours across the whole database — matched on sector, stage and capital scale, and on shared operators (officers or directors named at both companies in public filings). A discovery shortlist, not a valuation cohort — verify before acting, the same way modeled figures are directional.

CompanySectorStageRaised · realValue · estWhy similar
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HighGold Mining Inc.Mining & ResourcesSeed$12.5M$13.2Msame sector · same stage
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New Jersey Mining CoMining & ResourcesSeed$12.6M$3.0Msame sector · same stage
Winston Gold Corp.Mining & ResourcesSeed$11.0M$3.4Msame sector · same stage
West Red Lake Gold Mines Ltd.Mining & ResourcesSeed$12.9M$5.9Msame sector · same stage
Ucore Rare Metals Inc.Mining & ResourcesSeed$14.4M$4.2Msame sector · same stage
Liquid X Printed Metals, Inc.Mining & ResourcesSeed$9.5M$4.9Msame sector · same stage
Semantically similar

Matched by meaning, not labels — a local language model reads each company's name, sector and description and ranks the closest in that learned space. This catches look-alikes that cross sector boundaries; the structured list above explains its matches, this one trusts the text. Directional, like every modeled signal here.

CompanySectorStageValue · estMatch
Gold Bull Resources Corp.Mining & ResourcesPre-Seed$2.1M89%
Legend Gold CorpMining & ResourcesSeries A$757K84%
Dryden Gold Corp.Mining & ResourcesSeed$561K83%
Ranchero Gold Corp.Mining & ResourcesPre-Seed$1.2M83%
Riley Gold Corp.Mining & ResourcesPre-Seed$453K83%
TDG Gold Corp.Mining & ResourcesSeries A$16.4M83%
Silver Bull Resources, Inc.Mining & ResourcesSeries A$398K83%
HighGold Mining Inc.Mining & ResourcesSeed$13.2M83%
Frequently asked
How much funding has Bullfrog Gold Corp. raised?
Bullfrog Gold Corp. has raised approximately $11.9M in disclosed capital across 7 recorded financing rounds, aggregated from public filings.
What is Bullfrog Gold Corp.'s estimated valuation?
Provath's modeled valuation for Bullfrog Gold Corp. is approximately $16.9M (modeled range $3.0M–$110.8M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Bullfrog Gold Corp. at?
Bullfrog Gold Corp.'s latest modeled financing stage is Seed. Its most recent recorded round closed around Thu Mar 04.
What does Bullfrog Gold Corp. do and where is it based?
Bullfrog Gold Corp. operates in the Mining & Resources sector, based in VANCOUVER.
Explore related

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