Insights from VP Gwen Preston WRLG.v West Red Lake Gold Mines on Track for 2025 Production Amidst a Gold Bull Market: Insights from VP Gwen Preston:
In a recent interview, Gwen Preston, VP of Communications for West Red Lake Gold Mines, detailed the company’s progress and outlook as they move towards production at the Madsen Gold Mine.
Highlights from 2024 include:
* Completion of significant infrastructure projects and 58,000 meters of definition drilling at Madsen Mine.
* Strong focus on operational efficiency and understanding gold locations to prevent setbacks experienced by previous operators
* Introduction of new operational systems and staff training to enhance mine efficiency.
Looking ahead to 2025:
the company is poised to start production amid rising gold prices.
The plan includes leveraging a newly secured US$35 million debt facility and a conservative pre-feasibility study predicting robust economic outcomes despite underestimating the mine’s full potential.
This groundwork sets the stage for substantial production and growth in a supportive gold market.
Industry optimism is high:
Analysts predict a swing to profitability by 2025 with an expected profit of CA$39M, a rapid 78% average annual growth rate, putting the company on track to breakeven next year.
*Posted on behalf of West Red Lake Gold Mines Ltd.