West Red Lake Gold Mines (TSXV: WRLG; US-OTC: WRLGF) is readying the former Madsen mine in northern Ontario for a restart in mid-2025 after acquiring it in a bankruptcy sale, the company says in a new video.
“It’s enjoyed what I’d say is a chequered past,” Amandip Singh, vice-president of corporate development, said at The Northern Miner‘s recent Canadian Mining Symposium in London. “For many unforeseen challenges, Covid being one of them, certain things didn’t work out and some stumbling blocks were hit and that opened the opportunity for us to step in.”
Pure Gold Mining had invested nearly $350 million in the fully permitted mine which was producing until late last year and features an $80 million state-of-the-art mill installed in 2020, Singh said. West Red Lake intends to recapture all of Pure Gold’s $1.2-billion market value, he told Alisha Hiyate, editor-in-chief of The Northern Miner.
Watch the full conversation here:
JV Videos are sponsored content in arrangement with The Northern Miner.
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