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West Red Lake Gold Mines (WRLG.V) CEO Message Part 1: An Introduction to WRLG and its properties.
(TheNewswire) September 7, 2023 – TheNews w ire – Global St...
About this update from West Red Lake Gold Mines Ltd
[{"type":"text","content":"West Red Lake Gold Mines (WRLG.V) CEO Message Part 1: An Introduction to WRLG and its properties.\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n September 7, 2023 – TheNews\n \n \n \n \n w\n \n \n \n \n ire – Global Stocks News – On\nSeptember 6, 2023 West Red Lake Gold Mines (TSXV:WRLG)\n \n \n \n \n (OTC:WRLGF) CEO Shane Williams sent\n \n \n \n \n part one of seven\ncommunications\n \n \n \n \n to WRLG shareholders.\n \n \n \n \n \n Williams has designed, built and operated mines around\nthe world - for Skeena Resources, Eldorado Gold and Rio Tinto.\n \n \n \n \n \n \n \n \n \n CEO Message Part 1:\n \n \n An Introduction to\n \n \n West Red Lake Gold Mines\n \n \n and its\nproperties.\n \n \n \n \n By Shane Williams –\n \n \n CEO of West Red Lake Gold Mines\n \n \n \n \n Thank you for your interest in West Red Lake Gold\nMines.\n \n \n \n \n I know that you are busy and bandwidth is squeezed,\nso let’s cut to the chase.\n \n \n \n \n Our flagship Ontario asset – The Madsen Gold Mine –\nis debt free, fully permitted, and has a brand new 800+ tonne per day\nmill, a tailings and water treatment facility.\n \n \n \n \n The “lower-grade” near surface zone is about 3.5\ngrams/tonne gold, the higher-grade zone at 500 meters averages 9\ngrams/tonne gold.\n \n \n \n \n At its peak, the asset was valued at over a billion\ndollars, 10X our current market cap. There is smart money heavily\ninvested in the current project - Frank Guistra (10%); Sprott Resource\n(24%).\n \n \n \n \n The previous operator was under-capitalised.  Debt\nrepayment obligations forced the company into a quick-to-cash-flow\nmine model that was ultimately expensive and inefficient.\n \n \n \n \n I have designed, built and operated mines (open pit and\nunderground) in Greece, Turkey and Canada - for Skeena Resources,\nEldorado Gold and Rio Tinto.  Under Frank Guistra’s guidance, my\nteam conducted three months intense due-diligence on this project. It\nis clear to me and our technical team, the problems with this mine had\nto do with management strategies, not the asset itself.\n \n \n \n \n Geologically, metallurgically, politically and\nenvironmentally we are not aware of any big negatives with thi...