West Red Lake Gold Mines at Mining Forum Americas 2026: growth plan
On Tuesday, 29 September 2026, West Red Lake Gold Mines (WRLG) presented a long-term plan at Mining Forum Americas 2026 to expand gold production in Ontario's Red Lake district. The company highlighted a hub-and-spoke strategy, with its flagship Madsen mine currently operating in the high-grade 904 area, and aiming for 150,000 ounces per year through synergies with nearby deposits Rowan and Fork.
Madsen's mill capacity is planned to rise from 800 to 1,500 tons per day, with a CAD 20 million investment. The company's strong tax position and workforce give it an edge. WRLG's CEO, Shane, emphasized Red Lake as a strategic growth platform due to its existing assets and production status. The company sees its plan as a pathway to becoming a mid-tier producer.
In its first half of 2026, WRLG reported improved production, revenue, and cash flow, even as it ramped up operations. The company's market capitalization stands at just over CAD 300 million, with over CAD 315 million in tax loss carryforwards that could aid future development.
Written by urgent.news from Investing.com's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.