West Red Lake Gold Mines reported operational results today. Guidance has been delayed due to labor issues with the Madsen project. While only marginal, the market didn’t receive it favorably, possibly pricing in more capital raises. In addition, grades came in at lower than expected a/o were slightly revised downward. The forecast suggests higher grades from the non-remnant part of the restart. Still, the market is pricing a re-rate of the overall project resource in the future.
We updated our sum of the parts client summary report and valuation. Is $WRLG still a buy? Become a paid subscriber and download the full report:
