WRLG Sees Strong Volume Today After Upsizing PP to US $23M West Red Lake Gold Mines Ltd. (trading as WRLG.v or WRLGF for US investors) closed in the green today on by above-average trading volume after announcing it has upsized its private placement from US$20M to US$23 due to high demand.
This heightened investor interest is a testament to the confidence in WRLG's gold projects, and vision. Notably, the expanded private placement includes gold-linked notes, a strategic move by the company to leverage its potential amidst the dynamic gold market landscape.
The decision to increase the private placement underscores the strong appetite for investment in WRLG's flagship Madsen Gold Project, nestled in Canada's high-grade Red Lake gold district. With substantial investments already poured into the project and a fully permitted gold mine currently being explored and developed, WRLG is poised for significant growth.
The Madsen Gold Project boasts impressive mineral resources, with indicated mineral reserves of 1.65 million ounces of gold and inferred resources of 0.37 million ounces. These figures, coupled with the company's operational infrastructure and strategic partnerships, position it as a promising player in the gold mining sector.
This latest development is an important moment for WRLG as it secures the necessary funds to further advance its operations. The raised capital will fuel exploration activities, operational enhancements, and overall project development, propelling WRLG closer to its production goals and unlocking even greater value for its investors.
Full news here: https://westredlakegold.com/west-red-lake-gold-announces-upsize-to-previously-announced-private-placement/
Posted on behalf of West Red Lake Gold Mines Ltd.