Companies · Mining & Resources

Signal Gold Inc.

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

Diligence memoA one-page analyst read on Signal Gold Inc. — recommendation, valuation, rhythm, risks.
$7.7M
Total raised · real
5
Rounds
0.1×
Latest step-up
Top 24%
Sector rank · raised
Series A
Latest stage · inferred · Wed Nov 06 2024 00:00:00 GMT+0000 (Coordinated Universal Time)

Signal Gold Inc. looks under-valued against its niche peers and is quiet 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 0.23× the median modeled value of Series A Mining & Resources companies in 2022–2024 (40 peers) — value vs value, same stage and era.
Quiet
  • Last raise 20 mo ago; this sector typically re-raises about every 11 months.
  • Slightly overdue versus sector 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

Signal Gold Inc. is one of 701 Mining & Resources companies tracked from Toronto. By capital raised it ranks in the upper tier (ahead of 77% of sector peers), and mid-pack 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)
2024-11-06
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$20MPre-Seed · 2017-10-31 Raised $500K (real) Modeled valuation $3.3M (est)$500K$3.3MPre-Seed2017Pre-Seed · 2019-07-10 Raised $103K (real) Modeled valuation $688K (est)$103K$688KPre-Seed2019Seed · 2022-06-10 Raised $1.4M (real) Modeled valuation $5.4M (est)$1.4M$5.4MSeed2022Series A · 2023-02-24 Raised $5.0M (real) Modeled valuation $17M (est)$5.0M$17MSeries A2023Series A · 2023-02-24 Raised $4.9M (real) Modeled valuation $16M (est)$4.9M$16MSeries A2023Series A · 2024-11-06 Raised $684K (real) Modeled valuation $1.9M (est)$684K$1.9MSeries A2024+$103K+$1.4M+$5.0M+$4.9M+$684KCumulative $13M

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
Pre-Seed$500K · 2017
Pre-Seed extension$103K · 2019
Seed$1.4M · 2022
Series A$5.0M · 2023
Series A extension$4.9M · 2023
Series A extension$684K · 2024

Stages are modeled from round size (public records carry no series label). Ladder is contiguous — every modeled rung has a record.

Modeled valuation trajectory
$1.9M
Base estimate est.
$886K
Conservative case
$3.8M
Upside case
$3.1M
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.

Pre-Seed · modeled $3.3M · 2017-10-312017Pre-Seed · modeled $688K · 2019-07-10Seed · modeled $5.4M · 2022-06-10Series A · modeled $16.7M · 2023-02-24Series A · modeled $16.5M · 2023-02-24Series A · modeled $1.9M · 2024-11-062024
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
1.6 yr
Elapsed time used
1.6 yr actual, capped for stale marks
extractive
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
17 mo
Avg between rounds
$1.1M/yr
Capital velocity
8.7 yr
On record since
2017
First round
6
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) 3.3× above median
This company$7.7M
Sector median$2.3M
Latest round — vs other Series A rounds in sector (real $, this stage) 0.2× of median
This company$684K
Sector median$4.2M
Modeled value — vs sector median (estimate, all stages) 0.8× of median
This company$1.9M
Sector median$2.5M

Raised more than 77% of sector peers (real $). Modeled value above 47% 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 #27 of 40.

This companyCohort peer
$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)Signal Gold Inc. (this company) Raised $7.7M · modeled $1.9M (est)Signal Gold 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×
Signal Gold Inc. this companySeries A$7.7M$1.9M0.23×
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.
Pre-Seed$500K2017-10-31$2.8M$3.3M90%
Pre-Seed$103K2019-07-10$573K$688K90%
Seed$1.4M2022-06-10$7.0M$5.4M90%
Series A$5.0M2023-02-24$22.7M$16.7M90%
Series A$4.9M2023-02-24$22.4M$16.5M90%
Series A$684K2024-11-06$3.1M$1.9M90%
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. Pre-Seed$500K2017-10-31
    • First recorded raise — entered as Pre-Seed.
    • 1 investor on this round.
  2. Pre-Seed$103K2019-07-10
    • Raised again after 20 mo — slower than the ~11 mo sector norm.
    • Round 4.8× smaller than the prior — bridge or down round.
    • Switched to Rule 506(b) (was Rule 506(c)).
    • 3 investors on this round.
  3. Seed$1.4M2022-06-10
    • Raised again after 35 mo — slower than the ~11 mo sector norm.
    • Round 13.7× larger than the prior — scaling up.
    • 1 investor on this round.
  4. Series A$5.0M2023-02-24
    • Raised 9 mo later, in step with the ~11 mo sector norm.
    • Round 3.5× larger than the prior — scaling up.
    • 3 investors on this round.
  5. Series A$4.9M2023-02-24
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round roughly the size of the prior one.
    • 3 investors on this round.
  6. Series A$684K2024-11-06
    • Raised again after 20 mo — slower than the ~11 mo sector norm.
    • Round 7.2× smaller than the prior — bridge or down round.
    • 5 investors on this round.
Intelligence
2026 ~Q2
Modeled next raise · ~17mo cadence
$684K
Modeled next size est.range $684K$1.1M
0.1×
Last step-up
$1.1M/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
Dustin Angelo2 other2017-10
Ian Pritchard2 other2024-11
Lewis Lawrick2 other2017-10
Michael Byron2 other2017-10
Kevin Bullock1 other2017-10
Maruf Raza1 other2017-10
Mary-Lynn Oke1 other2022-06
Robert Dufour1 other2017-10
Allan Cramm2019-07
Allen Cramm2017-10
Anthony Chislett2017-10
George Furey2024-11
Gordana Slepcev2017-10
Jacques Levesque2017-10
Jonathan Fitzgerald2017-10
Lynn Hammond2017-10
Paul Kavanagh2022-06
Paul McNeil2017-10
Paul McNeill2019-07
Richard Howes2022-06
Ted Kavanagh2023-02
Ted Kavanaugh2024-11
Registry & provenance

Signal Gold 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
1722214
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
Troilus Gold Corp.Mining & ResourcesSeries A$7.9M$5.7Mnetwork1 shared operator · same sector · same stage
NexGold Mining Corp.Mining & ResourcesSeed$5.5M$3.3Mnetwork2 shared operators · same sector
Lithium Ionic Corp.Mining & ResourcesSeries A$11.7M$17.1Mnetwork1 shared operator · same sector · same stage
Freeman Gold Corp.Mining & ResourcesSeries A$7.9M$846Ksame sector · same stage
Nuevo Silver Inc.Mining & ResourcesSeries A$7.1M$2.7Msame sector · same stage
ALCHEMIST MINING IncMining & ResourcesSeries A$8.4M$445Ksame sector · same stage
Elite Mining Inc.Mining & ResourcesSeries A$8.7M$3.7Msame sector · same stage
Galantas Gold CorpMining & ResourcesSeries A$6.8M$612Ksame 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 Express Mines, Inc.Mining & ResourcesSeries A$2.0M86%
Zodiac Gold Inc.Mining & ResourcesSeries A$10.9M85%
Gold Reserve LtdMining & ResourcesSeries C$370.6M84%
Hunt Mining CorpMining & ResourcesPre-Seed$1.6M83%
U.S. Gold Corp.Mining & ResourcesSeries B$115.0M83%
Omega Gold Corp.Mining & ResourcesPre-Seed$595K83%
AU Gold Corp.Mining & ResourcesPre-Seed$1.1M83%
Pure Gold Mining Inc.Mining & ResourcesSeries A$19.3M83%
Frequently asked
How much funding has Signal Gold Inc. raised?
Signal Gold Inc. has raised approximately $7.7M in disclosed capital across 5 recorded financing rounds, aggregated from public filings.
What is Signal Gold Inc.'s estimated valuation?
Provath's modeled valuation for Signal Gold Inc. is approximately $1.9M (modeled range $886K–$3.8M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Signal Gold Inc. at?
Signal Gold Inc.'s latest modeled financing stage is Series A. Its most recent recorded round closed around Wed Nov 06.
What does Signal Gold Inc. do and where is it based?
Signal Gold Inc. operates in the Mining & Resources sector, based in Toronto.
Explore related

See where Signal Gold Inc. sits in the wider market — its sector, location and stage cohorts, each with their own leaderboards and capital-flow timelines.

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