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West Red Lake Gold Mines ( (TSE:WRLG) ) has provided an update.
West Red Lake Gold Mines Ltd. has announced a $30 million bought deal public offering with Raymond James Ltd. as the sole underwriter. The proceeds will be used to advance the Madsen Gold Mine towards commercial production and expedite capital projects to increase output. Additionally, funds will support growth opportunities and general corporate purposes, with a portion allocated to exploration expenses at the Rowan Project for a pending Pre-Feasibility Study. This move aligns with the company’s strategy to position itself as a growing gold producer in the emerging gold market.
The most recent analyst rating on (TSE:WRLG) stock is a Buy with a C$1.75 price target. To see the full list of analyst forecasts on West Red Lake Gold Mines stock, see the TSE:WRLG Stock Forecast page.
More about West Red Lake Gold Mines
West Red Lake Gold Mines Ltd. is a publicly traded gold development and mining company focused on its flagship Madsen Gold Mine and a 47 km2 land package in the Red Lake district of Ontario, a region known for its high-grade gold deposits. The company also owns the Rowan Property in Red Lake, which includes three past producing gold mines.
Average Trading Volume: 1,113,799
Technical Sentiment Signal: Buy
Current Market Cap: C$368.6M
Find detailed analytics on WRLG stock on TipRanks’ Stock Analysis page.