Companies · Mining & Resources

Goldsource Mines Inc.

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

Diligence memoA one-page analyst read on Goldsource Mines Inc. — recommendation, valuation, rhythm, risks.
$11.7M
Total raised · real
8
Rounds
0.1×
Latest step-up
Top 17%
Sector rank · raised
Series A
Latest stage · inferred · Fri May 19 2023 00:00:00 GMT+0000 (Coordinated Universal Time)

Goldsource Mines Inc. looks under-valued against its niche peers and is at-risk 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.

Under-valued
  • Modeled value is 0.10× the median modeled value of Series A Mining & Resources companies in 2022–2024 (40 peers) — value vs value, same stage and era.
At-risk
  • Last raise 3.1 yr ago; this sector typically re-raises about every 11 months.
  • Past due for a raise versus sector cadence — watch for distress or a bridge.
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

Goldsource Mines Inc. 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 long tail 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
1
Investors (latest)
2023-05-19
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 · 2014-02-28 Raised $1.6M (real) Modeled valuation $8.6M (est)Seed2014Seed · 2014-12-12 Raised $2.8M (real) Modeled valuation $15M (est)Seed2014Seed · 2014-12-12 Raised $2.7M (real) Modeled valuation $15M (est)Seed2014Seed · 2017-02-08 Raised $1.3M (real) Modeled valuation $6.9M (est)Seed2017Seed · 2018-01-18 Raised $321K (real) Modeled valuation $1.7M (est)Seed2018Seed · 2018-08-10 Raised $530K (real) Modeled valuation $2.8M (est)Seed2018Seed · 2019-01-17 Raised $237K (real) Modeled valuation $1.3M (est)Seed2019Series A · 2021-05-20 Raised $4.7M (real) Modeled valuation $19M (est)Series A2021Series A · 2023-05-19 Raised $267K (real) Modeled valuation $869K (est)Series A2023+$2.8M+$2.7M+$1.3M+$321K+$530K+$237K+$4.7M+$267KCumulative $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$1.6M · 2014
Seed extension$2.8M · 2014
Seed extension$2.7M · 2014
Seed extension$1.3M · 2017
Seed extension$321K · 2018
Seed extension$530K · 2018
Seed extension$237K · 2019
Series A$4.7M · 2021
Series A extension$267K · 2023

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: 67%.

Modeled valuation trajectory
$869K
Base estimate est.
$345K
Conservative case
$2.4M
Upside case
$1.2M
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Series Aa $4.0M–$15M round). Valuation is modeled from stage benchmarks scaled by the extractive sector profile. Directional, not a quoted figure.

Seed · modeled $8.6M · 2014-02-282014Seed · modeled $14.9M · 2014-12-12Seed · modeled $14.7M · 2014-12-12Seed · modeled $6.9M · 2017-02-08Seed · modeled $1.7M · 2018-01-18Seed · modeled $2.8M · 2018-08-10Seed · modeled $1.3M · 2019-01-17Series A · modeled $18.9M · 2021-05-20Series A · modeled $869K · 2023-05-192023
Model inputs · modeled:benchmark-stage-stepup-v1
22%
Dilution assumption
Implied ownership sold in the financing.
52%
Survival probability
28% low · 71% high
1.11×/yr
Annual markup
1.39×/yr upside case
3.1 yr
Elapsed time used
3.1 yr actual, capped for stale marks
extractive
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
14 mo
Avg between rounds
$1.3M/yr
Capital velocity
12.3 yr
On record since
2014
First round
9
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) 5.1× above median
This company$11.7M
Sector median$2.3M
Latest round — vs other Series A rounds in sector (real $, this stage) 0.1× of median
This company$267K
Sector median$4.2M
Modeled value — vs sector median (estimate, all stages) 0.3× of median
This company$869K
Sector median$2.5M

Raised more than 84% of sector peers (real $). Modeled value above 29% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Series A) 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 #35 of 40.

This companyCohort peer
$100K$1.0M$10.0M$100.0M$1.0M$10.0M$100.0MCapital raised (log)360 Mining, Inc. · Series A Raised $12.8M · modeled $43.7M (est)Arizona Sonoran Copper Co Inc. · Series A Raised $11.1M · modeled $35.5M (est)Reunion Gold Corp · Series A Raised $19.8M · modeled $34.8M (est)American Strategic Metals Corp. · Series A Raised $11.4M · modeled $34.4M (est)MERIT Mining Ohio, LLC · Series A Raised $10.0M · modeled $33.9M (est)Northern Dynasty Minerals Ltd · Series A Raised $23.2M · modeled $31.0M (est)Monetary Metals Bond II, LLC · Series A Raised $8.5M · modeled $29.2M (est)Liberty Gold Corp. /CAN · Series A Raised $10.5M · modeled $27.1M (est)Silver Tiger Metals Inc. · Series A Raised $7.6M · modeled $25.1M (est)Filo Mining Corp. · Series A Raised $7.5M · modeled $24.2M (est)Allied Gold Corp · Series A Raised $6.9M · modeled $21.8M (est)Contango ORE, Inc. · Series A Raised $5.7M · modeled $19.3M (est)Goldsource Mines Inc. (this company) Raised $11.7M · modeled $869K (est)Goldsource Mines Inc.
CompanyStageRaised · realValue · estvs peer med.
360 Mining, Inc.Series A$12.8M$43.7M5.25×
Arizona Sonoran Copper Co Inc.Series A$11.1M$35.5M4.28×
Reunion Gold CorpSeries A$19.8M$34.8M4.19×
American Strategic Metals Corp.Series A$11.4M$34.4M4.14×
MERIT Mining Ohio, LLCSeries A$10.0M$33.9M4.08×
Northern Dynasty Minerals LtdSeries A$23.2M$31.0M3.73×
Monetary Metals Bond II, LLCSeries A$8.5M$29.2M3.52×
Liberty Gold Corp. /CANSeries A$10.5M$27.1M3.26×
Silver Tiger Metals Inc.Series A$7.6M$25.1M3.02×
Filo Mining Corp.Series A$7.5M$24.2M2.91×
Allied Gold CorpSeries A$6.9M$21.8M2.62×
Contango ORE, Inc.Series A$5.7M$19.3M2.33×
Goldsource Mines Inc. this companySeries A$11.7M$869K0.10×
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$1.6M2014-02-28$8.0M$8.6M85%
Seed$2.8M2014-12-12$13.8M$14.9M85%
Seed$2.7M2014-12-12$13.7M$14.7M85%
Seed$1.3M2017-02-08$6.4M$6.9M90%
Seed$321K2018-01-18$1.6M$1.7M90%
Seed$530K2018-08-10$2.7M$2.8M90%
Seed$237K2019-01-17$1.2M$1.3M90%
Series A$4.7M2021-05-20$21.6M$18.9M90%
Series A$267K2023-05-19$1.2M$869K90%
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$1.6M2014-02-28
    • First recorded raise — entered as Seed.
    • 30 investors on this round.
  2. Seed$2.8M2014-12-12
    • Raised 9 mo later, in step with the ~11 mo sector norm.
    • Round 1.7× larger than the prior — scaling up.
    • 6 investors on this round.
  3. Seed$2.7M2014-12-12
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round roughly the size of the prior one.
    • 5 investors on this round.
  4. Seed$1.3M2017-02-08
    • Raised again after 26 mo — slower than the ~11 mo sector norm.
    • Round 2.1× smaller than the prior — bridge or down round.
    • 11 investors on this round.
  5. Seed$321K2018-01-18
    • Raised 11 mo later, in step with the ~11 mo sector norm.
    • Round 4.0× smaller than the prior — bridge or down round.
    • 10 investors on this round.
  6. Seed$530K2018-08-10
    • Raised 7 mo later, in step with the ~11 mo sector norm.
    • Round 1.6× larger than the prior — scaling up.
    • 3 investors on this round.
  7. Seed$237K2019-01-17
    • Came back fast: 5 mo vs the ~11 mo sector norm.
    • Round 2.2× smaller than the prior — bridge or down round.
    • 5 investors on this round.
  8. Series A$4.7M2021-05-20
    • Raised again after 28 mo — slower than the ~11 mo sector norm.
    • Round 20.0× larger than the prior — scaling up.
    • 5 investors on this round.
  9. Series A$267K2023-05-19
    • Raised again after 24 mo — slower than the ~11 mo sector norm.
    • Round 17.8× smaller than the prior — bridge or down round.
    • 1 investor on this round.
Intelligence
2024 ~Q3
Modeled next raise · ~14mo cadence
$267K
Modeled next size est.range $267K$427K
0.1×
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
Graham C. Thody3 other2014-02
Ioannis Tsitos3 other2017-02
J. Scott Drever2 other2014-02
N. Eric Fier2 other2014-02
Bernard C. Poznanski1 other2017-02
Ioannis (Yannis) Tsitos1 other2018-01
Nicholas Eric Campbell1 other2017-02
Barney Eric Magnusson2014-02
Bernard B. Poznanski2014-02
Drew C. Anwyll2021-05
Edward William Drew Anwyll2023-05
Haytham Eric Hodaly2018-01
Ioannis (Yannis) Scott Tsitos2014-02
Jonathan B. Dubois-Phillips2014-02
Kimberly William Drew Newsome2023-05
Nathan Eric Fier2018-01
Stephen C. Parsons2023-05
Steve C. Parsons2021-05
Steven B. Simpson2014-02
Registry & provenance

Goldsource Mines Inc. 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
1299865
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
SilverCrest Metals Inc.Mining & ResourcesSeries A$5.0M$17.5Mnetwork4 shared operators · same sector · same stage
Silvercrest Mines IncOtherSeries A$12.1M$143.4Mnetwork3 shared operators · same stage
Silver Bull Resources, Inc.Mining & ResourcesSeries A$11.9M$397Ksame sector · same stage
ADVENTUS MINING CorpMining & ResourcesSeries A$11.5M$1.6Msame sector · same stage
Gold Express Mines, Inc.Mining & ResourcesSeries A$11.4M$2.0Msame sector · same stage
Highland Copper Co Inc.Mining & ResourcesSeries A$12.4M$2.7Msame sector · same stage
Fortius Metals, Inc.Mining & ResourcesSeries A$11.0M$1.5Msame sector · same stage
Ivor Exploration Inc.Mining & ResourcesSeries A$11.0M$1.6Msame 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
Goldrich Mining CoMining & ResourcesSeed$648K90%
Gold Basin Resources CorpMining & ResourcesPre-Seed$1.0M88%
Gold Express Mines, Inc.Mining & ResourcesSeries A$2.0M88%
Pure Gold Mining Inc.Mining & ResourcesSeries A$19.3M87%
Gold Bull Resources Corp.Mining & ResourcesPre-Seed$2.1M87%
Allied Gold CorpMining & ResourcesSeries A$21.8M86%
Volcanic Gold Mines Inc.Mining & ResourcesPre-Seed$962K86%
Goldgroup Mining Inc.Mining & ResourcesSeed$1.1M86%
Frequently asked
How much funding has Goldsource Mines Inc. raised?
Goldsource Mines Inc. has raised approximately $11.7M in disclosed capital across 8 recorded financing rounds, aggregated from public filings.
What is Goldsource Mines Inc.'s estimated valuation?
Provath's modeled valuation for Goldsource Mines Inc. is approximately $869K (modeled range $345K–$2.4M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Goldsource Mines Inc. at?
Goldsource Mines Inc.'s latest modeled financing stage is Series A. Its most recent recorded round closed around Fri May 19.
What does Goldsource Mines Inc. do and where is it based?
Goldsource Mines Inc. operates in the Mining & Resources sector, based in VANCOUVER.
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