West Red Lake Gold Mines Ltd WLGMF

Waiting for the perfect storm

[7Twiggy]

By the looks of the news release, the operations team is doing their job.  Don't think you can say the same for the financial

minds that put together that last bought deal.  If the intent of the exercise was to hose regular shareholders they sure got it right. 

Looks to me by the size of the asks popping up the bought dealers are still the main sellers, knowing they can get back in with that overly generous

warrant exercise.   Looks to me like  the .55 cent level is around where they are prepared to sell.  Not sure what is going on with those consultants, 

but they have to get their act together and get this think done in a timely fashion. No more taking weekends off and leaving early.

Trotting out The Pres and Gwen is not going to work.  They must realize that this financial mess with the bought deal and the consultants dragging

their feet has made them look very foolish.  Hopefully we can look forward to the perfect storm in January.   Consultant report finally

finalized, buy backs from those that sold during the tax selling season, resource base continued to be extended and gold prices continuing to move up.

[marketsense]

Mixed feeling about the delay.  On one hand,  at this point any delay looks bad.  Gwen has been saying for months that because the mine was mainly already built,  there wasn't much that they didn't know so a new PFS isn't going to change the metrics that much.  So what's with the delay then? But we also know they are actively drilling and finding more gold

[Zibo510]

Upcoming Xmas holidays probably played a part in the delay, overall not a big deal, although the market doesn't like delays, January will likely be better for the SP.

[jake12116]

I find this small cap companies are to concerned with the share price to favor insiders and friends family members etc  just run the business in a respectful responsible 

[marketsense]

Another thought about the delay.   They know there are bought deal sellers still outstanding so why give them any break now.  These sellers are not your friend and are not going away.   Insiders can take advantage of those sellers who are going to sell no matter what and buy their shares at below market prices.   Bought deal was done at .68.  That 's why you see a

[UptickHedge]

Except shorts went up a million shares and no evidence of insider buying 

[Zibo510]

Yes marketsense that was pretty slimy on WRLG's part not to put a standard 4 month trading hold on those 40m shares. Kinda put the screws to retail.  Buyer's of the PP paid  .69 @ share and selling @ .55, currently taking a  .14 cent loss, which can be used as a tax loss, and end up holding warrants that cost less than what the warrants are currently trading for.  The

[marketsense]

Its dirty as you can get but if you understand what's going on,  you go with the flow and remain patient.   I just listened to Rick Rule talk about this on a podcast and he reiterated exactly what WRLG is going through.  Rule can sound a bit pompous but he has a real understanding of resource stocks and imparts a lot of sound thinking and wise advice.  For him,  its

[Zibo510]

Roughly 45 million shares have traded since 28 October, sooner or later these cheap shares will dry up.  Close Prices Last 3 Months Price/volumes not adjusted for restructures Date Ex Sym Open High Low Close Chg Total Vol #Tr Bid Ask V-TSX-V U-NEO