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Bullboard - Stock Discussion Forum West Red Lake Gold Mines Inc Com RLGMF

West Red Lake Gold Mines Inc is a mineral exploration company. It is engaged in acquiring, exploring, and developing mineral properties in Red Lake Gold District, Canada. The company involves in mining several gold projects across Canada, which includes West Red Lake Project, Rowan Mine, Mount Jamie Mine, and Red Summit Mine.

EXPM:RLGMF - Post Discussion

West Red Lake Gold Mines Inc Com > Rowan Mine Project
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Post by Goldendream on Sep 24, 2019 12:49pm

Rowan Mine Project

Well RLG Investors, With this latest announcement ( so long coming ) we have found out what the BIG DELAY has been all about. The management of the New ( Newmont/Goldcorp ) do not wish to invest in the ROWAN MINE project ( at this time ). I suspect RLG management were hoping over the last few months Newmont would relent and invest. However, the potential of the project has not changed. I would like personally to see RLG do what is necessary to take the 1.1 million ounce INFERRED resource at the ROWAN MINE and get it into the " INDICATED AND PROBABLE " category and put the project on a more firm foundation. Keep in mind also that do to International Geo Political reasons the price of Gold on the open Market is Climbing and is expected to continue to Climb. This will only add to the value of the RLG project, of course much also depends on the success in the announced drilling program. One of the immediate benefits of RLG funding the project without Newmont investing is that that RLG will ( by agreement ) own more of the project in the future. Also, keep in mind the latest drilling results to be had on the project are encouraging enough to merit further investigation and that is just what has been announced. Patience and Time as always is required by investors now. GLTA
Comment by RookieInv on Sep 26, 2019 7:47pm
I agree Goldendream. It would have been nice to get them on board but they currently are dealing with other things like selling the Red Lake Gold Mine and probably can't be bothered with drilling in that area at this time. I'm glad they are continuing to drill in the NT zone, and more than likely will obtain the funding to drill all winter. How could you argue about the results at shallow ...more