West Red Lake GoldTSXV:WRLG

They report a 1.7-million-ounce resource at Madsen plus over 400,000 oz at Rowan (May 2026), with current grades around 4 g/t stepping up to 6–8 g/t through the rest of the year, and a 30% grade increase from Q1 to Q2 (Jul 2026). The company notes they are mining the 1147 and 904 zones (Jul 2026), have a 15,000-ton stockpile on surface (Jul 2026), and point to exploration upside from over 200,000 m of underground drilling over the last two years, including a newly defined higher-grade area called triple 7 (Jul 2026).

As of May 2026, the company reports that a permit is already in place for the project.

(July 2026). Grade volatility around jewelry box areas was also cited as a risk (January 2026). On the assumptions side, the company is basing its plans on 800 tons per day permanent mill capacity with 1,000 tons daily underground production (July 2026), long hole open stoping as the mining method with no cut and fill (July 2026), and underground waste rock storage to free up trucks for ore movement (November 2025). Management reports having drilled over 200,000 meters of underground drilling (January 2026) and says mining rates and recovery metrics are being tracked, with good recovery noted in January 2026.

On the operating side, the company says the mill's design throughput is around 800 tons per day, with a consistent feed grade of six to six and a half grams per tonne or possibly higher (Jan 2026). The CEO added that the operation was trading dollars in Q3 (Nov 2025).

In July 2026, management stated that about $350 million in capital is needed and that debt is being paid down as part of the ramp-up, while also noting the company is building up cash in Q2 with break-even achieved in Q1. Earlier, in May 2026, management cited a market capitalization of around 320 million Canadian dollars. In January 2026, management said the company poured 20,000 ounces that year and generated around $73 million of the prior year in cash flow. In November 2025, management reported $33 million generated in Q3 on top of a previous $24–25 million. Management also noted $150 million in tax losses and a $6 million acquisition price, both as of July 2026.

As of July 2026, they said gold production, tons mined, and grade each jumped 20–50% in Q2, with equipment availability at 75–80%. They described the mine's tonnage rate at about 1,000 tons of material underground per day, and issued 2026 guidance of 35,000 to 45,000 ounces (down from an earlier November 2025 estimate of about 50,000 ounces). Management expects another step up in Q3 and another quarter of ramp-up to reach steady state.

In November 2025, the company reported a goal of producing 100,000 ounces in Red Lake. By January 2026, management was discussing nearer-term milestones: tripling the "47 area" in Q1 and tackling another higher-grade area in the back half of the year, while also expecting to be "close to that 800" by the end of Q1 and "probably by Q2" around that same number. Looking further ahead, a May 2026 statement outlined a pathway to 150,000 ounces of production over the next five years through a hub-and-spoke model.

CEO Shane Williams says he led the Alamac project at Eldorado Gold from restart into production within two years, and notes a longer history of four restarts in his career. The company also highlights early investor Frank Giustra as an insider alongside Williams.