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West Red Lake Gold Mines
(WRLG)
West Red Lake Gold Mines (WRLG) vs. iShares MSCI Canada ETF (EWC)
West Red Lake Gold Mines Business Overview & Revenue Model
West Red Lake Gold Mines Financial Statement Overview
| Breakdown | TTM | Mar 2025 | Feb 2024 | Nov 2022 | Feb 2022 | Feb 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 58.90M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | 20.32M | -2.16M | -250.40K | 0.00 | 0.00 | 0.00 |
| EBITDA | -5.28M | -99.19M | -31.99M | -227.85K | -218.88K | -250.03K |
| Net Income | -9.02M | -106.88M | -32.51M | -192.31K | -177.28K | -226.70K |
Balance Sheet | ||||||
| Total Assets | 193.80M | 136.89M | 98.01M | 1.86M | 2.02M | 2.20M |
| Cash, Cash Equivalents and Short-Term Investments | 23.70M | 36.88M | 16.31M | 1.64M | 2.02M | 2.20M |
| Total Debt | 93.33M | 60.32M | 7.80M | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 146.04M | 107.43M | 31.98M | 71.43K | 39.50K | 43.49K |
| Stockholders Equity | 47.76M | 29.46M | 66.03M | 1.79M | 1.98M | 2.16M |
Cash Flow | ||||||
| Free Cash Flow | -69.02M | -95.00M | -26.35M | -203.09K | -196.19K | -224.40K |
| Operating Cash Flow | -13.33M | -87.84M | -26.15M | -203.09K | -196.19K | -224.40K |
| Investing Cash Flow | -55.69M | -7.17M | -4.39M | -173.02K | 15.00K | 0.00 |
| Financing Cash Flow | 77.93M | 115.59M | 45.21M | 0.00 | 0.00 | 0.00 |
West Red Lake Gold Mines Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
56 Neutral | C$301.15M | -77.48 | -2.03% | ― | ― | -40.00% | |
53 Neutral | C$213.07M | -5.12 | -27.79% | ― | ― | ― | |
48 Neutral | C$408.36M | -37.29 | -15.78% | ― | ― | ― | |
46 Neutral | C$399.53M | -44.17 | -3.53% | ― | ― | -445.00% | |
45 Neutral | $755.66M | -33.01 | -7.77% | ― | ― | -111.93% | |
44 Neutral | C$318.50M | -29.69 | -8.36% | ― | ― | 37.78% |
West Red Lake Gold Mines Corporate Events
West Red Lake Gold Mines reported encouraging infill drilling results from its Fork Deposit, located about 250 metres southwest of the Madsen Mine in Ontario’s Red Lake district. The company highlighted multiple high‑grade gold intercepts, including visible gold associated with quartz veining and sulphide mineralization, which support the continuity and grade of the Fork resource.
Management said the successful drill program materially de‑risks the Fork satellite deposit ahead of a potential construction decision and will feed into ongoing engineering work on an initial mine design for the area. With Fork sitting close to existing underground infrastructure and characterized as a non‑remnant, near‑surface opportunity, the results strengthen its potential to be integrated into future mine plans, potentially enhancing Madsen’s production profile and flexibility for stakeholders.
The most recent analyst rating on (TSE:WRLG) stock is a Hold with a C$1.00 price target. To see the full list of analyst forecasts on West Red Lake Gold Mines stock, see the TSE:WRLG Stock Forecast page.
West Red Lake Gold Mines reported a new set of high-grade underground drill results from the Austin 904 Complex and South Austin zones at its Madsen Mine in Ontario, including standout intercepts of 219.73 g/t gold over 4.8 metres, 148.36 g/t over 3 metres and 133.13 g/t over 2.5 metres. The latest results, drilled from the 13 Level at around 650 metres depth, confirm multiple lenses of visible gold associated with quartz veining and strong silicification.
Management says the 904 Complex shows similarities to the high-grade 4447 area in South Austin, which has already become a major contributor to the 2026 mine plan. Because much of the 200-by-200-metre panel in the lower Austin 904 area remains largely unmined, the company expects scope for larger stopes and more efficient extraction, and plans to keep this zone a primary drilling focus through 2026 as it refines mine design and contemplates future production from these high-grade areas.
The most recent analyst rating on (TSE:WRLG) stock is a Hold with a C$1.00 price target. To see the full list of analyst forecasts on West Red Lake Gold Mines stock, see the TSE:WRLG Stock Forecast page.
West Red Lake Gold reported additional high-grade gold intercepts from its fully funded infill and conversion drilling program at the Rowan Project in Ontario, including 84.3 g/t over 1 metre, 14.4 g/t over 5.5 metres and 24.4 g/t over 1.5 metres from multiple veins. The latest results, which feature visible gold and include an unmodeled high-grade vein, are intended to support a forthcoming pre-feasibility study and reinforce management’s view that Rowan can expand along strike and at depth, underpinning the company’s goal of building a 100,000-ounce-per-year gold operation in Red Lake by 2028.
The most recent analyst rating on (TSE:WRLG) stock is a Hold with a C$1.00 price target. To see the full list of analyst forecasts on West Red Lake Gold Mines stock, see the TSE:WRLG Stock Forecast page.
West Red Lake Gold Mines has granted a substantial package of equity incentives to align management and board interests with shareholders, issuing 4,839,269 stock options to officers at an exercise price of $1.10, vesting over three years and exercisable for five years, alongside 2,845,503 restricted share units to officers and 594,594 deferred share units to non-executive directors with staggered vesting schedules. The awards, which remain subject to TSX Venture Exchange acceptance, reinforce the company’s long-term incentive structure for key personnel as it advances development of its Red Lake assets, signalling continued commitment to retention and performance-based compensation during a critical project build-out phase.
The most recent analyst rating on (TSE:WRLG) stock is a Hold with a C$1.00 price target. To see the full list of analyst forecasts on West Red Lake Gold Mines stock, see the TSE:WRLG Stock Forecast page.
West Red Lake Gold Mines reported the first batch of results from its fully funded infill and conversion drilling program at the Rowan Project, confirming high-grade continuity across several key gold-bearing veins. Early assays from seven of 38 planned holes returned multiple high-grade intercepts, including up to 141.5 g/t gold over one metre in Vein 013 and 55.8 g/t gold over one metre in Vein 006, with frequent visible gold observed in HQ core. Management said the intercepts validate the updated mineralized domain model completed in 2024 and will provide critical data for an updated mineral resource estimate at Rowan targeted for the second quarter of 2026. On the back of these encouraging results and the evident expansion potential, the company has increased the current drill program by an additional 1,000 metres to extend Vein 001 westward into previously untested ground, underscoring its push to grow and de-risk the Rowan deposit for stakeholders.
The most recent analyst rating on (TSE:WRLG) stock is a Hold 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.
West Red Lake Gold Mines has released a video marking the achievement of commercial production at its Madsen Mine in Ontario, a key milestone in the restart of the formerly acquired asset. Since purchasing the mine in June 2023, the company has executed extensive drilling, surface and underground capital projects, a new pre-feasibility study, workforce expansion to 280 employees, and a test mining and bulk sample program to validate its technical approach, culminating in the declaration of commercial production effective January 1, 2026. Management framed the video as a celebration of both the operational process and the team behind the restart, highlighting the mine’s potential to generate reliable production and unlock further value within the broader Red Lake gold district portfolio.
The most recent analyst rating on (TSE:WRLG) stock is a Hold 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.
West Red Lake Gold has declared commercial production at its Madsen Gold Mine as of January 1, 2026, after the mill operated for 30 consecutive days at 86% of its permitted 800-tonne-per-day capacity in December, delivering an average recovery of 94.6% and producing 3,215 ounces of gold. In the fourth quarter of 2025, the mine processed 49,162 tonnes of ore at an average grade of 5.06 g/t gold, poured 7,200 ounces that generated US$30 million in revenue at an average price of US$4,150 per ounce, and contributed to full-year 2025 sales of 20,000 ounces for US$73 million, leaving the company with CAD$46 million in cash and gold receivables. Management says the operation has reached a stable production base and plans to ramp up to sustained permitted capacity by mid-2026, with near-term mill feed expected to be dominated by the high-grade 4447 zone in South Austin and additional upside targeted from new high-grade areas such as the 904 Complex and potential integration of the Fork deposit into the mine plan, positioning the company for higher grades, improved margins, and expanded output.
The most recent analyst rating on (TSE:WRLG) stock is a Hold with a C$1.00 price target. To see the full list of analyst forecasts on West Red Lake Gold Mines stock, see the TSE:WRLG Stock Forecast page.
West Red Lake Gold Mines has upgraded its U.S. trading venue, qualifying to trade on the OTCQX Best Market under the ticker WRLGF, a move that aligns it with higher financial and governance standards and is expected to enhance visibility and access for U.S. investors. Management framed the listing as a key milestone that coincides with the company nearing commercial production at its Madsen Mine and progressing its Rowan Property, underscoring a pivotal shift toward gold production that could strengthen its standing in the Red Lake district and broaden its shareholder base.
The most recent analyst rating on (TSE:WRLG) stock is a Hold with a C$1.00 price target. To see the full list of analyst forecasts on West Red Lake Gold Mines stock, see the TSE:WRLG Stock Forecast page.
ArcelorMittal has announced three new renewable energy projects in India totaling 1GW of solar and wind capacity, which will double its renewable capacity in the country to 2GW and lift its global renewable portfolio to 3.3GW. The $0.9 billion investment will supply clean power to AMNS India’s steelmaking operations, contributing to 35% of the electricity needs of its Hazira plant by 2028 and, together with related projects by ArcelorMittal and AMNS India, is expected to deliver annual CO2 savings of 4 million tonnes, reinforcing the group’s decarbonisation strategy and strengthening its position as a major industrial player investing in the energy transition across India, Brazil and Argentina.
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.