West Red Lake Gold Mines Ltd. is pleased to announce that on December 31, 2024 it entered into a completed credit agreement with Nebari Natural Resources Credit Fund II LP pursuant to which the Company will borrow up to a maximum principal amount of US$35 million to be issued in three tranches of : US$15 million , US $15 million , and US$5 million . Tranche 1 was drawn down on December 31, 2024. The Credit Facility was [...]
Sponsored content disseminated on behalf of West Red Lake Gold. On December 10 2024, West Red Lake Gold Mines provided an update on the Fork Deposit, a shallow, high-grade, low-plunging zone of gold mineralization located about 250 meters from existing underground development at Madsen. "What was once considered a somewhat broad, intermediate-grade portion of the satellite resource inventory at Madsen, Fork has now been [...]
West Red Lake Gold Mines is pleased to provide an update on the Company's interpretation and vision for the Fork Deposit at its 100% owned Madsen Property located in the Red Lake Gold District of Northwestern Ontario, Canada. The Fork deposit currently contains an Indicated mineral resource of 20,900 ounces grading 5.3 grams per tonne gold , with an additional Inferred resource of 49,500 oz grading 5.2 g/t Au. WRLG has [...]
Sponsored content disseminated on behalf of West Red Lake Gold. On December 4, 2024 West Red Lake Gold Mines published an operations update on restart readiness activities at its 100% owned Madsen Mine in Northwest Ontario, Canada. West Red Lake Gold is working towards a restart at the Madsen Gold Mine. A Pre-Feasibility Study for the Madsen Mine is targeted for release in early 2025. The WRLG management team projects a [...]
West Red Lake Gold Mines is pleased to provide an operations update on restart readiness activities at its 100% owned Madsen Mine project. "As we push towards our goal of restarting the Madsen Mine next year, the team continues to make great progress on achieving key operational readiness milestones," said Shane Williams, President and CEO. "Access development for test mining has been underway since late summer, putting [...]
Sponsored content disseminated on behalf of West Red Lake Gold. On November 21, 2024 West Red Lake Gold Mines reported additional drill results that define a new ore shoot at the Upper 8 Target following up on the October 2, 2024 intercepts of 44.17 g/t Au over 1.3 meters and 20.63 g/t Au over 0.5 meters. West Red Lake Gold Mines is currently working towards a restart at the Madsen Gold Mine in the Red Lake Gold District [...]
West Red Lake Gold Mines is pleased to report additional drill results from the Upper 8 Target at its 100% owned Madsen Property. These results follow-up on the significant Upper 8 intercepts previously announced on October 2, where drilling returned 44.17 g/t Au over 1.3 m and 20.63 g/t Au over 0.5m. UPPER 8 HIGHLIGHTS: Hole WRL24-017 Intersected 1.5m @ 21.44 g/t Au, from 297.7m to 299.2m, Including 0.5m @ 52.17 g/t Au [...]
Global Stocks News - Sponsored content disseminated on behalf of West Red Lake Gold. On October 31, 2024 West Red Lake Gold Mines reported on its restart readiness activities at the Madsen Mine project in Red Lake, Ontario. On November 1, 2024 West Red Lake Gold VP Investor Relations Gwen Preston, published a video address giving context to the mine restart activities. "Let me run you through the things that we discussed [...]
West Red Lake Gold Mines Ltd. is pleased to provide an update on restart readiness activities at the Madsen Mine project in Red Lake, Ontario. "Advancing multiple projects and goals simultaneously in preparation for restart means the Madsen Mine site is a busy place," said Shane Williams, President and CEO. "The tailings dam lift is now complete and came in ahead of schedule and under budget, which is a great example of [...]
West Red Lake Gold Mines is pleased to announce that it has closed its previously announced public offering of 41,666,800 units of the Company at a price of C$0.69 per Unit, for aggregate gross proceeds to the Company of C$28,750,092, including the full exercise of the over-allotment option. The Offering was led by Raymond James Ltd., as sole underwriter and bookrunner . Each Unit is comprised of one common share of the [...]
West Red Lake Gold Mines is pleased to announce, it has agreed with Raymond James, to increase the size of its previously announced bought-deal financing. West Red Lake will now issue 36,232,000 units of the Company at a price of C$0.69 per Unit for gross proceeds of C$25,000,080. Each Unit is comprised of one common share and one common Share purchase warrant. Each Warrant will entitle the holder thereof to purchase one [...]
West Red Lake Gold Mines is pleased to announce that the Company has secured commitments totaling in excess of C$68 million to finance the restart of its Madsen Gold Mine . Madsen remains on track to recommence production in 2025. The financing package is comprised of the following: US$35 million loan facility with Nebari Natural Resources Credit Fund II, LP bearing interest of SOFR plus 8% with a term of 42 months. A [...]
