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West Red Lake Gold Mines ( (TSE:WRLG) ) has issued an update.
West Red Lake Gold Mines Ltd. has reported positive progress in the ramp-up activities at its Madsen Mine in Ontario, with July seeing significant achievements in operational efficiency and gold production. The mine processed 500-800 tonnes per day with a 94% recovery rate, resulting in the production of 3,800 ounces of gold, generating $12 million in revenue. The company highlighted the importance of detailed drilling and resource modeling to ensure accurate grade continuity, which has led to a close match between expected and actual mined grades. This progress is expected to enhance the company’s operational capabilities and market position in the gold mining sector.
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 engaged in the development and operation of the Madsen Mine located in Red Lake, Ontario, which is a significant site for gold mining.
Average Trading Volume: 1,210,565
Technical Sentiment Signal: Strong Buy
Current Market Cap: C$274.9M
Find detailed analytics on WRLG stock on TipRanks’ Stock Analysis page.