WRLG's CEO on Breathing new Life into the Madsen Mine In a recent episode of The Jay Martin Show, the spotlight was on West Red Lake Gold Mines (TSXV:WRLG | OTCQB:WRLGF), with Shane Williams, the President and CEO, taking center stage. The discussion delved into the company's recent milestones, strategic vision, and the acquisition of an asset that was once valued at $1 billion for a fraction of the cost.
The episode began by highlighting the remarkable acquisition of an asset at an unprecedented bargain. Shane Williams explained that the company had secured the Madsen Mine which had a peak value of $1B for $6.5 million in cash, 40 million shares at 35 cents each, and a 1% NSR. This deal, described as a potential "deal of the decade," demonstrated the company's ability to capitalize on market opportunities and acquire valuable assets at favorable terms.
Shane emphasized the importance of technical strategy in mining and how West Red Lake Gold Mines plans to approach the Madsen Mine differently than the previous owners. The company's detailed examination of the geological challenges and commitment to strategic, well-planned development set the stage for a potential turnaround.
As the conversation unfolded, Shane discussed the prevailing sentiment in the gold market, noting the recent shift from a subdued atmosphere to increased interest and inquiries. He highlighted the macroeconomic factors influencing the market, including geopolitical uncertainties, government debt, and inflation, suggesting that now might be an opportune time for investors to consider gold.
The CEO also discussed the significance of building positions during bear markets, echoing the sentiment that the best deals are often struck when equities are undervalued. The acquisition of the Madsen Mine exemplified this strategy, presenting both gold and value investors with a compelling opportunity.
Looking ahead, Shane Williams outlined the company's vision for West Red Lake Gold Mines. The immediate focus is on bringing the Madsen Mine back into production, leveraging the expertise of a seasoned team and the backing of influential figures like billionaire mining investor Frank Giustra. However, the ambitions extend beyond this, with plans to grow into a mid-tier producer, potentially through acquisitions and exploration opportunities.
Watch the full interview here:
Posted on behalf of West Red Lake Gold Mines Ltd.