Red Lake Madsen Mine Ltd LRTNF

Wait For The "Dust" To Settle...

[Digger0144]

Back on February 17, I posted that I initiated a position and would like to build my holdings to a full position over time as the mining process progressed.

Unfortunately, the operation has experienced "further" difficulties and expectations have not been met, to say the least.

Yes, it is disappointing...but..I am not convinced that "they" will not get it right. I did anticipate it would take at least two quarters of substantial changes in technics and effective mining implementations to take hold....which included a lot of hard work "in the trenches."

I love turn around stories and this may be one of them.

They need an additional 50 million dollars...to be honest I thought the last raise of 31 million would be sufficient...obviously not.

I believe AngloGold Ashanti will continue to backstop the operation and they will get the money that they need.  They will not make an offer at this time to takeover...this would be a public relations error in judgement...you do not kick the supportive shareholders while they are down.

The 8 Zone has not vanished...they will access it in the future.

I truly liked the update that they provided and new management has the vision and ability to get the job done.

I am still looking to add to my position as I initially stated...the process for me just began some short months ago.  I most definitely will wait for financing before I build my holdings.

Opportunity...most definitely!

I will not sell for the time being...my losses on paper are not that significant at this time.

Wait for the dust to settle and act accordingly...keeping in mind that any future purchases are highly speculative at this time.

Let us see what "they" can do moving forward.

All the Best!
Digger0144