West Red Lake Gold Mines Ltd. (Ticker: WRLG.v or WRLGF for US investors), a player in Canada's high-grade "Golden Triangle '' gold district, recently announced the successful closure of its gold linked notes offering, raising US$22,340,000.
This milestone marks a significant leap forward in WRLG's journey towards realizing its ambitious production goals.
The offering, comprising 22,340 units priced at US$1,000 each, signifies a resounding vote of confidence from investors in WRLG's future prospects.
The issuance of these gold-linked notes reflects WRLG's unwavering belief in the potential of its flagship project, the Madsen Gold Mine. Situated in the prolific Red Lake area, this fully permitted mine stands as a testament to WRLG's dedication to unlocking the region's untapped riches.
Boasting a formidable indicated mineral resource of 1.65 million ounces of gold with an average grade of 8.9 grams per tonne, as of June 2023, the Madsen Mine presents a compelling investment opportunity.
Additionally, with inferred resources of 0.37 million ounces of gold, WRLG is poised to capitalize on its exploration endeavors, further bolstering its resource base.
The infusion of funds from this offering will play a pivotal role in propelling the Madsen Project forward. With over C$350 million already invested and a robust infrastructure in place, including a state-of-the-art mill, WRLG is well-positioned to maximize the potential of its assets.
Looking ahead, WRLG remains committed to advancing its operational capabilities and enhancing project development.
The raised capital will fuel exploration activities, operational enhancements, and other strategic initiatives, paving the way for accelerated progress towards production milestones.
Full news here: https://westredlakegold.com/west-red-lake-gold-closes-us22340000-of-gold-linked-notes-offering/
Posted on behalf of West Red Lake Gold Mines Ltd.