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West Red Lake Gold Mines ( (TSE:WRLG) ) just unveiled an announcement.
West Red Lake Gold Mines Ltd. has completed the final drawdown of US$12.5 million from its US$35 million credit facility with Nebari Natural Resources Credit Fund II LP. The funds will be used to complete capital costs for restarting the Madsen Mine and cover other corporate and exploration expenses. This financial move is significant for the company as it supports the development of its mining operations in the highly productive Red Lake Gold District, potentially impacting its market position and stakeholder interests.
The most recent analyst rating on (TSE:WRLG) stock is a Buy with a C$1.40 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 mineral exploration company focused on advancing and developing its flagship Madsen Gold Mine and a 47 km² land package in the Red Lake district of Ontario, Canada. The company also owns the Rowan Property in Red Lake, which covers 31 km² and includes three past producing gold mines.
Average Trading Volume: 1,621,028
Technical Sentiment Signal: Strong Buy
Current Market Cap: C$259.1M
For an in-depth examination of WRLG stock, go to TipRanks’ Stock Analysis page.