Gold Hits $3,100; Something Even Bigger Is About To Happen | Gwen Preston

Summary

Gwen Preston, VP Communications of West Red Lake Gold Mines, discusses gold's record run above $3,100 and the drivers behind it, including inflation, tariff uncertainty, recession fears, and Western investor participation. She argues gold may reach $3,500 and that gold mining equities, especially cash-rich producers and earlier-stage explorers, could catch up. The interview also reviews West Red Lake Gold's startup of the Madsen mill, upcoming bulk-sample results, low all-in sustaining costs, free-cash-flow valuation, and plans to grow into a mid-tier Canadian producer.

• Gold breached $3,100 in March 2025, with drivers including inflation, tariffs, recession fears, and central-bank/emerging-market demand.
• Western investors are beginning to buy gold and gold equities, creating a potential catch-up trade for lagging mining shares.
• Major gold miners are cash-rich but need growth pipelines, supporting dividends, M&A, and exploration funding.
• West Red Lake Gold started its Madsen mill and is transitioning from developer to producer.
• Upcoming bulk-sample results are seen as a key validation catalyst for WRLG's investment thesis.
• WRLG cites $1,680/oz AISC and about $95 million annual FCF at $2,600 gold, with potential valuation upside.
• WRLG aims to expand Madsen and become a mid-tier Canadian gold producer through deposits and acquisitions.