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GOLD 4298.00 −0.5% SILVER 64.00 −1.5% COPPER 6.77 +0.3% OIL 94.61 +2.7% PALLADIUM 1274.00 +0.3% TSLV 0.075 −11.8% ESM 0.160 +0.0% IMM 0.060 +0.0% BRON 0.055 +0.0% NG 10.09 −1.1% EAM 0.075 +0.0% LUG 91.04 −0.7% MOLY 1.73 +1.8% V 0.340 +0.0% AUMB 0.810 −3.6% BYN 1.92 +0.5% RME 0.230 +0.0% TOM 0.195 +0.0% GNG 0.070 +0.0% ETL 0.780 −1.3% SGZ 0.035 +16.7% GOLD 4298.00 −0.5% SILVER 64.00 −1.5% COPPER 6.77 +0.3% OIL 94.61 +2.7% PALLADIUM 1274.00 +0.3% TSLV 0.075 −11.8% ESM 0.160 +0.0% IMM 0.060 +0.0% BRON 0.055 +0.0% NG 10.09 −1.1% EAM 0.075 +0.0% LUG 91.04 −0.7% MOLY 1.73 +1.8% V 0.340 +0.0% AUMB 0.810 −3.6% BYN 1.92 +0.5% RME 0.230 +0.0% TOM 0.195 +0.0% GNG 0.070 +0.0% ETL 0.780 −1.3% SGZ 0.035 +16.7%
Production / Operations

West Red Lake Gold Reports Third Quarter Operations Update for Madsen Mine Ramp-Up

By The Northwire Desk — AI Analysis Oct 07, 2025 · 03:30 WRLG · 0.94 West Red Lake Gold Mines Ltd.
WRLG · Price

Executive Summary

  • West Red Lake Gold reported Q3 2025 production of 35,700 t ore at 5.4 g/t Au, yielding 7,055 oz gold and CAD $33 M gross proceeds – a 34% increase over Q2.
  • Ramp‑up milestones were achieved: daily mined tonnage reached >1,000 t (record 1,400 t), underground waste rock storage is now operational, and the historic shaft is slated to begin moving 350 t/day in November.
  • Additional financing of C$40.65 M was completed via a bought‑deal public offering, supporting continued equipment deliveries and mine development toward commercial production in early 2026.

Key Details

  • Q3 Production: 35,700 t ore mined; average grade 5.4 g/t Au; mill poured 7,055 oz gold.
  • Revenue: Gold sold at US$3,456/oz for CAD $33 M gross proceeds (vs. CAD $24 M in Q2 and CAD $2.1 M in Q1).
  • Ramp‑Up Performance: Daily ore movement >1,000 t on several days; record 1,400 t/day achieved in September.
  • Underground Waste Rock Storage: Implemented mid‑Sept; now stores waste underground, freeing truck capacity for ore haulage and improving ventilation.
  • Shaft Rehabilitation: Square‑timbered Madsen shaft re‑opened; hoist components delivered Aug.; skip & scrolls expected Oct.; target 350 t/day ore outflow starting Nov.
  • Equipment Additions: Pending delivery of one 42‑t haul truck and two 4‑yd Komatsu scoops within next two months, completing planned fleet.
  • Sill Development: Averaged 8.8 g/t Au in Q3; contributed 25–30% of milled tonnage.
  • Grade Reconciliation: Strong alignment between modeled and actual longhole stope grades; ongoing monitoring shows consistent gold grade performance.
  • Financing Update: Bought‑deal public offering raised C$40,651,260; lead underwriter commission $2,270,469.60 paid to Raymond James Ltd.
  • Future Milestones: Detailed 2026 mine plan expected by year‑end; commercial production declaration targeted for early 2026.

Notable Quotes

“Ramp up at the Madsen mine is progressing well… we are staying focused on a methodical approach to this ramp up because developing a strong sustainable mine gives us the potential to create more value in Red Lake.” – Shane Williams, President & CEO

All boilerplate, forward‑looking statements, and disclaimer sections have been omitted for brevity.

Read the original news release →

More from West Red Lake Gold Mines Ltd.

Sep 22, 2026 · 05:30

West Red Lake confirms high-grade Madsen intercepts of 904 and 955 g/t gold without expanding the defined resource width.

Drill Results Sep 16, 2026 · 08:30

West Red Lake confirms residual high-grade at Starratt-Olsen while leaving the deep shoot untested in its first modern assay results.

Drill Results Sep 10, 2026 · 05:30

West Red Lake confirms Madsen-style gold at the Starratt deposit, though results lack the high-grade scale seen in historical production.

Drill Results Sep 03, 2026 · 08:30

West Red Lake’s Madsen ramp-up delivered cost beats and positive free cash flow despite debt and dilution concerns.

Drill Results Aug 31, 2026 · 08:30

West Red Lake paid Q2 recap with key numbers pre-released on July 15 and August 25.

Earnings Aug 25, 2026 · 17:52

West Red Lake’s Madsen ramp reaches production targets as average industry selling costs enter guidance while margin and debt remain key focus areas.

Earnings