The 'Vision Of Moving The Madsen Mine Back Into Production' Insightful interview with West Red Lake Gold's (WRLG.v WRLGF) VP of Investor Relations, Gwen Preston, sharing her excitement about joining the company and her confidence in its value proposition: https://www.youtube.com/watch?v=DpATA42tMxc
Key Points:
- Background and Experience: Gwen Preston has a decade of experience writing the Resource Maven newsletter, where she advised investors in the mining space. Her move to West Red Lake Gold was prompted by her interest in the company's acquisition of the shuttered Madson Mine.
- Madson Mine Acquisition: West Red Lake Gold acquired the Madson Mine out of bankruptcy, aiming to correct the mistakes of the previous operators. The new management team, with extensive operational experience, is focused on fixing these issues and putting the mine back into production.
- Management Team: The team includes Shane Williams (President and CEO), Will Robinson (VP Exploration), and Maurice (VP Technical Services). They bring significant experience in mine building and operations, which gives confidence in the project's success.
- Operational Focus: The company's primary focus is on restarting the Madson Mine by mid-2025. They plan to release a pre-feasibility study by late 2024 or early 2025, outlining the restart plan. They are already working on critical path tasks to ensure a smooth restart.
- Geological Confidence: The company has a new geologic model, leading to impressive drill results. This confidence in the geological understanding is crucial for effective mining operations and future exploration success.
- Financial Position: West Red Lake Gold has raised significant capital ($60 million in recent months) to fund their operations and restart plans. While more funding will be needed, the company is well-positioned to move forward.
- Market Position: The company is at a tipping point between exploration and development. With tangible progress towards restarting the mine, they aim to demonstrate the project's viability and potential for generating revenue.
- Investor Relations: Gwen Preston emphasizes the opportunity for investors to get involved at this critical transition point. The company is focused on clear communication and demonstrating progress to build investor confidence.
On a path to restart the Madson Mine, WRLG is poised for significant advancements and supported by a capable management team and solid financial backing, presenting a compelling opportunity for investors to engage at this pivotal juncture.
Posted on Behalf of West Red Lake Gold Mines Ltd.