Bravada Gold

What Bravada Gold does

Bravada Gold Corporation is a Nevada-focused gold and silver exploration and development company headquartered in Vancouver, Canada, with all of its operating properties located in Nevada, USA. The company controls a portfolio of seven to eight properties covering approximately 6,500 hectares across the Battle Mountain-Eureka and Walker Lane gold trends, with its flagship asset being the Wind Mountain gold-silver project — a past-producing open-pit heap-leach mine previously operated by Amax Gold/Kinross Gold (1989-1999) that is being advanced toward a Pre-Feasibility Study and updated PEA. A 2022 Phase I PEA for Wind Mountain reported a pit-constrained resource of 474,000 oz gold and 11.8M oz silver (Indicated) and outlined Phase I economics including a 38% after-tax IRR, $46.1M NPV at a 5% discount rate, a 0.55:1 strip ratio, and a 1.8-year payback at $1,750/oz gold. Bravada's other assets include the Highland and SF projects (the latter a Carlin-type gold property adjacent to Barrick's Goldrush), Baxter, East Manhattan, and a 1% NSR royalty on the Drayton project in Ontario.

The company's business model relies on a modified joint-venture structure in which it identifies and stakes properties, then attracts publicly traded partners to fund exploration through multi-stage earn-in agreements (with partners historically able to earn up to 75-100% interest by completing exploration expenditures and cash payments); Bravada retains carried interests, NSR royalties, or sells properties outright. Since 2005, Bravada has signed 33 earn-in joint-venture agreements with 20 publicly traded companies. The company also intends to advance Wind Mountain toward a future production decision, with initial capex of $46.6M and sustaining capex of $19.8M per the 2022 PEA. Bravada is a Manex Resource Group company and trades on the TSX Venture Exchange (BVA), OTCQB (BGAVF), and FSE (BRTN).

The company is pre-revenue and is led since June 2026 by Dr. Paul West-Sells (former CEO of Western Copper and Gold, 2006-2024), with Joseph A. Kizis, Jr. continuing as VP Exploration. Wind Mountain is held through the wholly-owned US subsidiary Rio Fortuna Exploration (U.S.) Inc.

Name

Bravada Gold

Legal name

Bravada Gold Corporation

Website

https://bravadagold.com

Company type

Public

Founded year

1992

Operating status

Operating

Headcount range

1–10 employees

Short description

Bravada Gold Corporation is a Nevada-focused gold and silver exploration and development company advancing the past-producing Wind Mountain project toward a Pre-Feasibility Study, with a portfolio of seven additional Nevada properties and a 1% NSR royalty on Drayton.

Ownership category

akta.pro rank

Product category

Gold Mining and Mineral Exploration

NAICS

Gold Ore and Silver Ore Mining (212220), Metal Ore Mining (2122)

SIC

Gold And Silver Ores (1040), Metal Mining (1000), Mineral Royalty Traders (6795)

akta.pro primary industry

Gold Mining (IMAKAEAA)

akta.pro secondary industries

Precious Metals Minting & Bullion Products (IMAKAEAJ), Tailings & Water Management Engineering (TSF Design/Construction, Dams, Water Treatment) (IMAKAOAF)

Keywords

• Gold exploration
• Silver mining
• Mineral development
• Nevada mining
• Joint venture mining

Headquarters

HQ city

Vancouver

HQ country

Canada

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Technology or R&D, Supply Chain, Marketing or Sales

Revenue model

1. Joint Venture / Earn-In Payments: Bravada enters into earn-in joint-venture agreements where partner companies fund exploration programs in exchange for the right to earn an interest in the property. Partners make cash payments, incur exploration expenditures, and may make advanced minimum royalty (AMR) payments. For example, Headwater Gold could earn 51% by paying US$10,000 and spending US$5 million over 6 years, with options to earn 75% and 100%.
2. Future Gold/Silver Production Revenue: Bravada's primary development focus is advancing the Wind Mountain gold-silver project toward production through open-pit heap-leach mining. The company expects to generate revenue from the sale of produced gold and silver. Wind Mountain is a past-producing mine with 299,259 oz gold and 1.8Moz silver previously recovered by Amax Gold/Kinross Gold.
3. Royalty Income: Bravada holds a 1% NSR royalty on the Drayton project, an Archean gold property in Ontario. Additionally, the Wind Mountain project is subject to a 2% NSR royalty to Agnico-Eagle (USA) Limited, of which 1% may be purchased for US$1,000,000 prior to commencement of production.
4. Property Transaction / Sale: Bravada sells or options exploration properties outright to other companies. The company has completed property-acquisition agreements with private individuals and sells properties through earn-in or outright purchase arrangements. Net proceeds from financing rounds have been used for pre-feasibility studies, land-holding fees, and working capital.

Go-to-market motion2 records

Distribution channels2 records

Marketing channels5 records

Core offering

Bravada Gold Corporation is a Nevada-focused gold and silver exploration and development company that controls a portfolio of seven properties covering approximately 6,500 hectares in the Battle Mountain-Eureka and Walker Lane gold trends. The company's primary offering is the Wind Mountain gold-silver project, a past-producing open-pit/heap-leach mine being advanced through a Pre-Feasibility Study, supplemented by a portfolio of drill-ready exploration projects and a 1% NSR royalty on the Drayton property in Ontario.

Product overview

Bravada Gold Corporation is a Nevada-focused gold development company operating a portfolio of exploration and development properties. The company's flagship project is the Wind Mountain gold-silver project, a previously producing open-pit/heap-leach mine being advanced toward a Pre-Feasibility Study. The company controls 7 Nevada properties totaling approximately 6,500 hectares (6,329-6,556 hectares per various sources) in the Battle Mountain-Eureka and Walker Lane gold trends. The property portfolio includes advanced-stage development projects (Wind Mountain), early-stage exploration properties (Highland, SF, Baxter, East Manhattan), and a royalty interest (Drayton in Ontario). The company utilizes a modified joint-venture business model to advance properties and attract partners to fund later stages of development.

Differentiator

Problem solved

Functional benefit

Products and services

• Wind Mountain Gold Project

Quantifiable outcome

• 38% After-Tax IRR, $46.1M After-Tax NPV@5% for Wind Mountain Phase I PEA
• +3 more outcomes

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Seven partnerships are on record, tiered core and minor.

• RESPEC Company LLCcoreImplementation/ SI/ Consulting Partner · 15 June 2026RESPEC Company LLC (formerly Mine Development Associates) was engaged by Bravada to lead overall project engineering, mine planning, and mine design for the Wind Mountain Gold Project. RESPEC previously compiled the 2012 Technical Report and PEA, and conducted the 2022 updated pit-constrained resource and Phase I PEA, reporting 38% after-tax IRR and $46.1M NPV@5%.
• Woods Process ServicescoreImplementation/ SI/ Consulting Partner · 15 June 2026Woods Process Services was engaged to lead metallurgy, heap leach evaluation, and process design for the Wind Mountain Gold Project. Jeffery Woods, SME MMSA QP (Principal Consulting Metallurgist), is responsible for process-related sections of the Phase I PEA technical report.
• Confluence Water Resources LLCcoreImplementation/ SI/ Consulting Partner · 15 June 2026Confluence Water Resources LLC was engaged to lead hydrology work at the Wind Mountain Gold Project as part of the Pre-Feasibility Study and updated PEA engineering activities.
• OAR, LLCminorImplementation/ SI/ Consulting Partner · 15 June 2026OAR, LLC was engaged to advise on permitting and government relations for the Wind Mountain Gold Project, supporting advancement through the regulatory process and taking advantage of the positive Federal and State regulatory environment in Nevada.
• Headwater Gold Inc.coreStrategic or Co-development Partner · 30 June 2021Headwater Gold Inc. entered into a Definitive Agreement with Bravada to earn up to 100% interest in the Highland gold/silver project in Nevada's Walker Lane Gold trend. Stage 1: earn 51% by paying US$10,000 and spending US$5 million over up to 6 years. Stage 2: increase to 75% by spending an additional US$5 million and paying Bravada US$250,000. Stage 3: option to purchase Bravada's remaining interest. The property is subject to a 3% NSR (reducible to 2% for US$1 million). Headwater drilled 8 reverse-circulation holes (~2,000m) in July 2021. However, the earn-in partner subsequently elected to return the property to Bravada without earning an interest, so the agreement was terminated.
• OceanaGold US Holdings Inc. (subsidiary of OceanaGold Corp.)coreStrategic or Co-development Partner · 20 December 2018OceanaGold US Holdings Inc. entered into an Option/Joint Venture agreement for the Highland gold/silver project, with the ability to earn up to a 75% interest after expenditures of US$10 million, following which Bravada participates on a 75/25% basis. OceanaGold funded a 2019 work program including CSAMT geophysics, soil sampling, claim staking, and drilling at the Big Hammer Target. In December 2020, OceanaGold elected not to continue earning an interest and returned the property to Bravada.
• Manex Resource GroupminorOthersBravada Gold Corporation is a Manex Resource Group company. Manex provides corporate and administrative support services to Bravada.

Scale indicators7 records

Recent moves7 records

Expansion highlights5 records

Broad incumbents

• i-80 Gold Corp. Nevada-focused mid-stage gold developer advancing multiple heap-leach and refractory projects in the Battle Mountain-Eureka trend. Directly comparable jurisdiction and development-stage profile to Bravada.
• Western Copper and Gold: TSX-listed Nevada/BC-focused gold-copper developer led by Dr. Paul West-Sells until 2024. Highly comparable as a mid-stage precious/base-metal developer with similar jurisdictional exposure and operational model.
• Coeur Mining: Established mid-tier precious-metals producer with active Nevada operations. Comparable as a precious-metals company with Nevada exposure and a pipeline of development-stage assets.
• Barrick Gold Corp. Tier-1 gold major operating the Goldrush and Cortez complexes immediately adjacent to Bravada's SF project. Comparable as the dominant Nevada gold producer whose operational footprint defines the regional competitive context.

Direct peers

• OceanaGold Corp. Mid-tier gold producer that previously held an earn-in on Bravada's Highland project. Comparable as a Nevada-active gold developer/producer with similar geological targets and JV appetite.
• Headwater Gold Inc. Junior gold explorer that previously optioned Bravada's Highland project. Highly comparable as a Nevada-focused epithermal gold explorer using earn-in/JV structures to advance properties.
• Gold Standard Ventures: Nevada-focused gold developer with the Railroad-Pinion project in the Carlin/Battle Mountain trend. Comparable as a similarly sized, jurisdiction-pure gold developer advancing a single flagship asset.
• Liberty Gold Corp. Nevada-focused gold developer with Black Pine and Goldstrike oxide gold projects. Comparable as a similarly positioned junior advancing heap-leach oxide gold assets in Idaho/Nevada.
• Chesapeake Gold Corp. Precious-metals developer with a Mexican flagship asset (Metates) and a Nevada R&D subsidiary. CEO Dr. West-Sells sits on Chesapeake's board, indicating close strategic alignment with Bravada.

Emerging players

• Victoria Gold Corp. Mid-stage gold producer that built the Eagle mine in Yukon. Comparable as a heap-leach gold developer that recently transitioned to producer; Adam Melnyk was previously VP of Business Development there.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/c/BravadaGoldCorp
• LinkedInlinkedin.com/company/bravada-gold-corporation

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries1 record

Funding overview

Funding rounds6 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Bravada Gold