Diligence memo · auto-generated · as of July 2, 2026
Western Magnesium Corp.
Western Magnesium Corp. looks under-valued against its niche peers and is at-risk on financing cadence.
Businessfiled
Western Magnesium Corp. operates in Other Technology, based in MCLEAN.
No verified homepage on file yet — operating evidence is limited to the public record.
Capital & rounds (filed)filed
Western Magnesium Corp. has raised $23M in disclosed capital across 14 recorded rounds, aggregated from public filings. Its latest round is modeled as Series A (a $4.0M–$15M round).
Largest single filing: $6.1M on 2021-05-28.
Most recent recorded round closed around 2023-03-03.
Valuation (modeled)modeled
Provath models Western Magnesium Corp. at approximately $3.0M (range $429K–$8.9M). This is an algorithmic estimate from round sizes and same-niche peers — not a quoted or reported figure.
Read: Under-valued. Modeled value is 0.06× the median modeled value of Series A Other Technology companies in 2022–2024 (1325 peers) — value vs value, same stage and era.
Financing rhythm & timingmixed
Historic cadence: a new round about every 2 months.
Last raise 3.3 yr ago; this sector typically re-raises about every 13 months.
Past due for a raise versus sector cadence — watch for distress or a bridge.
The last round stepped up 1.7× from the prior — scaling.
Comparablesmixed
Capital scale ranks ahead of 85% of Other Technology peers (21302 compared).
Modeled value ranks above 8% of those peers.
Closest niche peers: Phylum, Inc., Keon Foundation Ltd., Remoteam Inc., MultiSafe, Inc., Careerian Inc..
Peoplefiled
24 named people on file across officers, directors and signatories.
Risks & flagsmixed
Overdue for a raise versus sector norm — distress or bridge risk.
No clearly named CEO/founder/principal in the surfaced records — key-person evidence is thin.