West Red Lake Gold Mines Ltd V.WRLG.WT.A

Giustra on WRLG's "Great Asset, Great Management"

[MarketMakerss]

Highlighted by its excellent assets and strong team, billionaire mining investor Frank Giustra details the significant opportunity posed by West Red Lake Gold Mines (WRLG.v WRLGF) with its unique acquisition of the Madsen Mine: https://twitter.com/WestRedLakeGold/status/1770118415895642547

 

"Tremendous Room for Growth"

Having secured the Madsen Mine for only $6M, an asset in Ontario's Red Lake Gold District that is debt free and fully permitted with a $350 million 800+ tonne per day mill, "tremendous room for growth" remains.

 

Previously valued at over a billion dollars, about 8x the current market cap of WRLG, the asset hosts a 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 with a $273 million tax write-off (ie. first $273 million in profits will be tax free)

 

The Golden Opportunity

Located amid a crucial time in the commodities market, Giustra expects the current macro trends will boost the value of gold as the US dollar depreciates alongside a global monetary reset that appears to be in progress.

 

Despite a noticeable disparity between the value of gold and gold mining stocks, this is a buyers market according to Giustra, having observed these market patterns since 1978.

 

The Vision

"Our vision for WRLG extends beyond Madsen. Our aim is to grow and create wealth for our shareholders, aiming not just to be acknowledged as a recognized gold company in Canada, but to eventually earn a reputation as a respected and established operator throughout the entire mining industry."

 

With the recent closing of a US$22,340,000 gold linked notes offering, WRLG is strongly funded to execute on its Madsen Gold Mine restart plan.

 

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.

 

Latest News Release: https://westredlakegold.com/west-red-lake-gold-closes-us22340000-of-gold-linked-notes-offering/

 

Posted on Behalf of West Red Lake Gold Mines Ltd.