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West Red Lake Gold Mines ( (TSE:WRLG) ) has provided an update.
West Red Lake Gold Mines Ltd. has reported a successful third quarter in the ramp-up of its Madsen Mine, with significant increases in ore tonnage and gold production. The mine produced 35,700 tonnes of ore at an average grade of 5.4 grams per tonne, resulting in 7,055 ounces of gold poured, marking a 34% increase over the previous quarter. The company achieved gross proceeds of CAD$33 million from gold sales, and operational improvements such as underground waste storage have enhanced ore movement efficiency. These developments position Madsen Mine for commercial production by early 2026, indicating positive future prospects for the company and its stakeholders.
The most recent analyst rating on (TSE:WRLG) stock is a Buy with a C$1.75 price target. To see the full list of analyst forecasts on West Red Lake Gold Mines stock, see the TSE:WRLG Stock Forecast page.
More about West Red Lake Gold Mines
West Red Lake Gold Mines Ltd. operates in the mining industry, focusing on gold production. The company is primarily involved in the exploration and development of gold properties, with a significant focus on the Madsen Mine located in the Red Lake Gold District of Northwestern Ontario, Canada.
Average Trading Volume: 1,479,281
Technical Sentiment Signal: Strong Buy
Current Market Cap: C$330.1M
For an in-depth examination of WRLG stock, go to TipRanks’ Overview page.