Tag: West Red Lake Gold Mines

Restarting a Bankrupt Gold Mine: $1.2B Failure to Cash Flow

At The Rule Symposium at The Boca Raton Hotel in Florida, Shane Williams, President & CEO of West Red Lake Gold Mines Ltd. (TSXV: WRLG | OTCQB: WRLGF), outlined the company’s strategy to revitalize the Madson mine project, recently acquired from Pure Gold.

Williams expressed a positive outlook on the gold market, citing increased demand from Eastern countries and central banks. He provided insight into Pure Gold’s previous setbacks, attributing them to an overly aggressive, debt-driven approach and inadequate geological understanding.

West Red Lake’s approach contrasts sharply with its predecessor’s. The company aims to recommence production by 2025, prioritizing comprehensive geological work while capitalizing on the existing infrastructure. This measured strategy seeks to mitigate risks and ensure sustainable operations.

“We’re buying capital equipment already, we’re buying some equipment that the previous team didn’t buy. The plan would be early next year to start the ramp up, and full production mid-2025. So it’s really a quick return to cash flow,” Williams explained.


Not a recommendation to buy or sell securities. Always do additional research and consult a professional before purchasing a security. The Deep Dive and its affiliates hold no licenses.

Restarting a Bankrupt Gold Mine: $1.2B Failure to Cash Flow

July 10, 2024, 06:23:00 AM

West Red Lake Hits 27.15 g/t Gold Over 10 Metres At Madsen

November 21, 2023, 08:26:16 AM

West Red Lake Gold Intersects 33.47 g/t Gold Over 1.35 Metres At Rowan

October 11, 2023, 10:50:42 AM

West Red Lake Gold Hits 70.80 g/t Gold Over 8.3 Metres

September 12, 2023, 09:10:04 AM

West Red Lake Gold Hits 6.27 g/t Gold Over 10.1 Metres

August 29, 2023, 09:02:03 AM

West Red Lake Hits 50.52 g/t Gold Over 4.0 Metres At Rowan

August 1, 2023, 08:30:28 AM

West Red Lake Hits 104.98 g/t Gold Over 0.4 Metres At Rowan Property

June 21, 2023, 08:34:10 AM

West Red Lake Gold Closes On Madsen Gold Project, Appoints Tony Makuch To Board

June 19, 2023, 09:32:51 AM

West Red Lake Gold Names Shane Williams As CEO

June 6, 2023, 08:35:17 AM

West Red Lake: The Madsen Gold Project

June 2, 2023, 01:35:35 PM

West Red Lake Hits 10.34 g/t Gold Over 8 Metres

May 23, 2023, 08:39:16 AM

West Red Lake Gold Enters Definitive Agreement For Pure Gold’s Madsen Mine

May 18, 2023, 08:30:15 AM
Video Articles

Bell Q3 Earnings: Massive Impairments. Guidance Cuts. A Mess.

Alamos Gold Q3: Record Revenue & Production Amid Rising Costs

The Junior Mining Market Is Back

Recommended

Germany Looks To Modernize Military Recruitment But Stops Short of Conscription

First Majestic Silver Posts Topline Revenue Of $146.1 Million In Q3 2024