West Red Lake Gold Mines Advances Madsen Mine Restart Amid Record Gold Prices

West Red Lake Gold Mines Advances Madsen Mine Restart Amid Record Gold Prices

WRLG (TSXV: WRLG; OTCQB: WRLGF) is ramping up its restart at the 100%-owned Madsen Mine in Red Lake, Ontario. Key operational milestones include:

\* Bulk Sampling Underway: First gold pour from stockpiled material expected in March 2025.

\* Mill Restart: Facility set to resume operations later this month after a 28-month dry shutdown.

\* Connection Drift: 80% complete—this 1.4 km haulage tunnel will boost mining efficiency and is on track for completion by March 2025.

\* Robust Workforce: With 185 employees and 50 contractors on site, the team is executing a meticulous turnaround plan.

\* Financial Confidence: A conservative PFS projects $70M annual cash flow and a 255% IRR, with further upside potential if reserve cutoffs are adjusted.

Analyst Matthew O’Keefe remains bullish, affirming that WRLG is well-positioned for a mid-2025 production restart in a record-high gold price environment. We can expect further updates as WRLG transitions from test mining to full-scale production.

\*Posted on behalf of West Red Lake Gold Mines.

[https://www.streetwisereports.com/article/2025/02/14/mining-company-advances-premier-gold-projects-restart.html](https://www.streetwisereports.com/article/2025/02/14/mining-company-advances-premier-gold-projects-restart.html)