Vancouver, BC, June 17, 2024  – West Red Lake Gold Mines (TSX.V: WRLG) has recently stated that the company “has a goal to restart the Madsen Gold Mine in H2 2025.”

This announcement of a projected mine restart date is significant news, and welcome relief for shareholders that have become frustrated at multiple fundraisings for a mine once slated to be ready to be put back into production imminently.

The share price has fallen from a peak of over C$1 to 58 cents recently.

During an aggressive 12-month drill program confirming and extending multiple high-grade zones at the Madsen project, WRLG has consistently stressed the need for patience.

WRLG has always stated they will switch the mine back on “when they’re ready, and won’t be rushed.”

They are taking a methodical approach to set things right and deep dive into the deposit before resuming production.

“Our CEO Shane Williams has been clear.” 

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The mill turns on when it’s ready to turn on.”

CEO Shane Williams’ specific expertise is moving mineral assets along the development chain into production, on schedule, and on budget. He has designed, built and operated mines for Skeena Resources, Eldorado Gold and Rio Tinto.

WRLG is currently working on a pre-feasibility study detailing the restart plan due Q1 2025.

The company have recently appointed Canadian newsletter writer Gwen Preston as an IR person, no doubt hoping to pursuade her subscribers to invest in the company.

It does seem that the drawn out wait for a mine restart after the company promoted a quick restart possibility, and the recent fundraisings, have disappointed shareholders.

It remains to be seen whether Gwen Preston and the IR team can regain the trust of investors.

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To View West Red Lake Gold Mines’ historical news, please click here

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Disclosure

At the time of writing the author holds no shares in West Red Lake Gold Mines.

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