Canada · Delayed Price · Currency is CAD West Red Lake Gold Mines Earnings Call Transcripts
Fiscal Year 2026
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Commercial production at Madsen began in January 2026, with Q1 revenue of CAD 42 million and a 37% operating margin. Production and grades are expected to increase through 2026, with costs improving as ramp-up progresses and major development projects advance.
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Commercial production at Madsen was achieved after significant de-risking, with 2026 output expected to be back-end loaded as ramp-up completes and high-grade zones are accessed. AISC is forecast to decline as production increases and shaft upgrades are completed, while growth plans target 120,000 oz/year through integration of multiple deposits and mill expansion.
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Commercial production began in January, with robust ramp-up and technical improvements resolving past challenges. Expansion plans target 150,000 oz/year by integrating multiple deposits, with further upside from regional consolidation and deep exploration.