West Red Lake Gold Mines Ltd V.WRLG.WT.A

Interview Summary: CEO Highlights Near-Term Gold Production

[1StockInformer]

West Red Lake Gold Mines (Ticker: WRLG.v or WRLGF for US investors) is advancing toward restarting gold production at its past-producing Madsen mine in Ontario's prolific Red Lake district.

In a new interview with Crux Investor, CEO Shane Williams discussed the company's recent achievements and upcoming milestones on its path to production restart. 

Notably, WRLG purchased Madsen for "pennies on the dollar', buying the project, which already had $350M in infrastructure, for $6.5 million in cash.  

The project's current resource estimate shows 1.7 million ounces of gold at 7.4 g/t indicated and 0.4M oz Au at 6.3 g/t inferred.

Over the past year and a half, WRLG has focused on de-risking the project, including by conducting over 50,000m of underground drilling, and updating key infrastructure components, such as a new crusher and camp.

WRLG's strategic location has allowed it to draw on experienced local labor to support the project. The on-site workforce at Madsen has reached 150 people, with plans to increase to 200-250 soon. 

A significant milestone approaching is the completion of a pre-feasibility study (PFS), expected in early December, focusing on an 800 tons/day production plan. 

Williams clarified that the PFS would be centered solely on the Madsen resource, excluding WRLG's satellite deposits to present a clear view of the Madsen project as a standalone operation.A test mining program is also underway to align actual production with model forecasts. 

As WRLG prepares for a potential restart in late 2025, investors should closely watch the PFS and test mining results for insights into the project’s economics and risk profile.

With its experienced management team, strategic location, and existing infrastructure, WRLG aims to position itself strongly as it transitions from explorer to producer.

Full interview here: 

Posted on behalf of West Red Lake Gold Mines Ltd.

[Martyboss]

The stock continues to drop on a daily basis, my opinion is when news--- if it is good will only increase a few pennies  maybe to .65  on news, so really not much to look forward to  and if the Poster is right about  the PVS being on the conservative side then this stock will likely tank  and if your a beleiver in project  you will likely  be able to buy in the

[Giverbullets1]

PFFHHT!  C'mon.  The PFS will only solidify this report below, likely with a clearer picture for operating costs and margins.  Pending if the PFS is more or less positive to this report, will then compare a target above or below $1.35 for early 2025 and then should follow up a NAPVS up to ~ $2.65 @ $1900 USD gold, in later 2025.  Sensitivity doubles  to over $5/share

[marketsense]

Of course everyone is entitled to their own opinion and I certainly have mine.   It makes no sense to have insiders buying and putting all that effort into getting Madsen up and running again only to have it fall back on its face.   The people behind it are mine builders,  not scammers or incompetents.  They took it over because they got it dirt cheap and felt strongly that

[Zibo510]

WRLG purchased Madsen in the spring of 2023, POG at the time was just under 2,000 / oz If the financial projections justified purchasing the mine at 2,000 / oz with the current POG I think the PFS will show that Madsen will be a cash cow.