Bullboard - Stock Discussion Forum West Red Lake Gold Mines Ltd V.WRLG

Alternate Symbol(s): WRLGF

Metals & Mining Gold

West Red Lake Gold Mines Ltd. is a Canada-based mineral exploration company. The Company is focused on advancing and developing its flagship Madsen Gold Mine and the associated 47 square kilometers (Km2) land package in the Red Lake district of Ontario. The Company’s project also includes West Red Lake Project, which is situated on the Red Lake Archean Greenstone Belt, which hosts the high... see more

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West Red Lake Gold Mines Ltd > Giustra Warns of US Dollar Crisis

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Post by MarketMakerss on Mar 19, 2024 4:46pm

Giustra Warns of US Dollar Crisis

"This is not a gold rally driven by investors, certainly not North Americans. This rally is very different from what I've seen in my entire adult life. There's something going on and nobody can explain to me why gold is moving upwards on a steady pace."

Warning of a US Dollar Crisis, billionaire mining investor Frank Giustra joined David Lin in explaining how the US dollar is being challenged by rivals and what the global monetary reset means for investors and consumers: https://youtu.be/ioctVU3eS1U?si=PLcReoXcg6kk7jxR

An "Extraordinary Gold Story"

"Here’s the math. At today’s price of the shares, WRLG is worth about $141 million. The same mine and mill, less Rowan with its 900,000 ounces of gold, used to be worth $1.15 billion. It cost $350 million to put Madsen into production under management that ended up running it into the ground. With current management and $2200 gold I see WRLG being worth 500 to 1,000 percent higher when investors wake up." - https://www.321gold.com/editorials/moriarty/moriarty031124.html

Deemed an "Extraordinary Gold Story" by Bob Moriarty that offers exceptional potential for hundred-fold returns, Frank Giustra currently owns over 17% of West Red Lake Gold Mines (WRLG.v WRLGF), a gold exploration and development company in the Red Lake Gold District in Northwestern Ontario.

Focused on maximizing exploration dollars and building high-grade and high-confidence ounces to de-risking its deposit, WRLG is executing its plan to restart the debt-free and fully permitted Madsen Gold Mine and its $350 million 800+ tonne per day mill.

The Madsen Gold Mine

Hosting an NI 43-101 Indicated resource of 1.65M oz of gold grading 7.4 g/t Gold and an inferred resource of 0.37Moz of gold grading 6.3g/t, Madsen was once valued at over a billion dollars, about 8x the current market cap of WRLG.

However the previous owner was under-capitalized with debt repayment obligations forcing the company to a quick-to-cash-flow mine model, a model that is expensive & inefficient, thus WRLG was able to acquire the asset for only US$6 million. Significantly, WRLG's purchase came with a $273 million tax write-off, thus the first $273 million in profits will be tax-free.

The South Austin Zone

WRLG's current focus at the deposit is the South Austin Zone which currently contains an indicated mineral resource of 474,600 oz grading 8.7 g/t Au and an inferred resource of 31,800 oz grading 8.7 g/t Au.

Focused on understanding the underlying geology of the asset ahead of restarting the mill, WRLG is conducting additional drilling to de-risk the deposit and hit recently hit high-grade intercepts with visible gold showing including 25.12g/t Au over 5.5m, 39.46 g/t Au over 2m and 18.60 g/t Au over 4m at the zone.

Posted on Behalf of West Red Lake Gold Mines Ltd.

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