New CEO Interview from Commodity Culture
"Institutional buying will set the stage for the next leg up in the gold bull market"
In joining Commodity Culture, Shane Williams, West Red Lake Gold's (WRLG.v WRLGF) CEO, discussed the gold market trends that investors should watch, from the impact of money printing and inflation on currencies, central banks buying gold, China's dominance in the gold market, and the potential for institutional money entering the sector: https://www.youtube.com/watch?v=fEZkH5XpShg
Williams additionally highlighted the range of milestones that WRLG has hit recently, including pouring their first gold bar, recent high-grade drill results in a new area and path toward the Madsen Mine restart.
Located in Ontario's Red Lake District, an area known for gold mining due to its history of mining, political stability, and regulatory environment, the Madsen Gold Mine boasts an NI 43-101 indicated resource of 1.65M oz of gold grading 7.4 g/t Gold, an inferred resource of 0.37Moz of gold grading 6.3g/t.
Previously owned by the now-defunct PureGold, WRLG secured the debt-free and fully permitted Madsen Mine for only $6M with a $273 million tax write-off and a new $350M, 800+ tonne per day mill, despite its previous valuation of over a billion dollars, about 8x the current market cap of WRLG, due to previous mismanagement.
With another 50,000m of drilling planned over the next year, WRLG is focused on methodically understanding the geology behind the deposit and is working on a pre-feasibility study to detail the mine restart plan, targeted for release in early 2025, ahead of the projected Madsen Mine restart in the second half of 2025.
Posted on Behalf of West Red Lake Gold Mines Ltd.