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West Red Lake Gold Mines ( (TSE:WRLG) ) has provided an update.
West Red Lake Gold Mines Ltd. announced an increase in the size of its previously declared bought-deal financing, now issuing over 23 million charity flow-through units at a price of C$0.8487 each, aiming to raise approximately C$20 million. The proceeds will be used to incur Canadian development expenses on the company’s assets, potentially strengthening its operational capacity and exploration activities in the Red Lake district, subject to necessary approvals.
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 the associated highly prospective land package in the Red Lake district of Ontario.
YTD Price Performance: 28.57%
Average Trading Volume: 474,252
Technical Sentiment Consensus Rating: Strong Sell
Current Market Cap: $170.8M
Learn more about WRLG stock on TipRanks’ Stock Analysis page.
