The Best Time To Buy This Mining Stock?I did. Right after the last PP, and just before the PFS ;)
GLTA! Let's get his party started!
West Red Lake Gold acquired the Madsen Mine project in June 2023. The Company has completed 40,000 metres of definition drilling alongside significant mine engineering and multiple capital projects and studies to inform a pre-feasibility study that is targeted for release within a month.
Following release of the pre-feasibility study and the closing of the financing package announced today, it is anticipated that the Company intends to work towards a formal mine restart decision. Mill restart and commissioning will then follow. Once the mill is operational, the Company will process the batch-stockpiled bulk samples from the test mining program, enabling reconciliation calculations between estimated and milled gold grades.
The test mining program will run into Q1 2025, after which time the mine will transition to production mining, with material stockpiled.