West Red Lake Gold Mines Ltd. Reports 7,859 Ounces of Gold Mined from the Madsen Deposit in Q3 2026
West Red Lake Gold Mines Ltd. (TSXV: WRLG; OTCQX: WRLGF) announced that the Madsen Mine in the Red Lake Gold District of Northwestern Ontario produced 7,859 ounces of gold during the third quarter ended September 30 2026. The figure represents the company’s highest monthly gold production since the mine was restarted and confirms the operational momentum described in its quarterly update.
Production Highlights
- Total gold production: 7,859 oz (Q3 2026)
- Monthly peak: September 2026, the highest monthly output since the restart
- Mining focus: Remnant areas of the Madsen deposit, with lower average grades compared to newly developed zones
- Underground development: Continued advancement toward additional mining fronts, including deeper, previously unmined areas
Hub‑and‑Spoke Strategy
West Red Lake Gold is pursuing a hub‑and‑spoke growth model. The Madsen mill and associated infrastructure are intended to serve as a central processing hub for multiple high‑grade, past‑producing deposits across the Red Lake District. This strategy aims to:
- Provide greater operational flexibility
- Expand margins
- Extend mine life
- Support a larger production profile over time
Workforce and Operational Challenges
- Labor shortages: The company experienced industry‑wide recruitment and retention challenges, particularly for skilled underground personnel.
- Age profile: Approximately 21 % of the workforce is over 55 years old, contributing to the labor shortage.
- Contractor support: To maintain the pace of underground development, the company supplemented its workforce with specialized contractors during Q3 2026.
Workforce Development and Job Openings
West Red Lake Gold’s LinkedIn page listed openings for roles such as Remote Scoop Operators, Long‑Hole Drillers, Underground Mine Supervisors, Senior Metallurgists, Junior Resource Geologists, Hoist‑Millwrights, Industrial Electricians, and Mill Operators. The company highlighted ongoing efforts to address staffing challenges and maintain operational momentum as it moves into the fourth quarter.
Financial Context
- Market capitalization: CAD 236 million
- Price‑to‑earnings ratio: 16.38
- Recent share price (27 Oct 2026): CAD 0.57, down from a 52‑week high of CAD 1.49 on 25 Jan 2026
The production figures, combined with the company’s strategic focus on leveraging the Madsen infrastructure as a regional hub, suggest an emphasis on scaling operations while navigating labor market constraints. The reported output reinforces West Red Lake Gold’s position as a key player in the Red Lake gold district and indicates continued progress toward its long‑term mine plan.
