Q: How is West Lake Gold coming along? I see that they are finding impressive deposits. Thank you.
5i Research Answer:
WRLG is now a producer, with commercial production achieved and revenue set to double this year. It has net cash of $31M. EPS should go from 9c to 49c. Recent drill results have been excellent, and confirm high-grade continuity. Of course, the best place to find new reserves is beside an existing mine. There has been some insider buying, and at 11x earnings we think with the company's growth profile it should be re-rated now with less risk.