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West Red Lake Gold Mines ( (TSE:WRLG) ) has issued an update.
West Red Lake Gold Mines Ltd. has provided an update on the ramp-up operations at its Madsen Mine in Red Lake, Ontario, following a fatal incident that temporarily halted operations. The mine has resumed operations with a focus on safety, and the mill has been processing 650 tonnes per day with a 95% gold recovery rate. The company has increased its mining rates and is expanding its equipment fleet to support operations. The recent drilling efforts have focused on expanding high-grade lenses in South Austin, and the company has sold 5,250 ounces of gold year-to-date.
The most recent analyst rating on (TSE:WRLG) stock is a Buy with a C$1.50 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. is a publicly traded mineral development company focused on advancing and developing its flagship Madsen Gold Mine and the associated 47 km² highly prospective land package in the Red Lake district of Ontario, Canada. The Red Lake Gold District is known for its high-grade gold zones, having produced over 30 million ounces of gold.
Average Trading Volume: 1,479,903
Technical Sentiment Signal: Buy
Current Market Cap: C$278M
Learn more about WRLG stock on TipRanks’ Stock Analysis page.