West Red Lake Gold maps 10 year Madsen Rowan plan as permitting work continues
4 Articles
4 Articles
West Red Lake Gold maps 10 year Madsen Rowan plan as permitting work continues
West Red Lake Gold outlines a 10-year Madsen-Rowan plan, with Rowan production projected for 2029 subject to permits and financing RED LAKE, Ont. — West Red Lake Gold Mines has put a 10-year production plan around its operating Madsen mine and the proposed Rowan satellite mine, projecting a combined average of 88,000 ounces of gold a year if Rowan is permitted, financed and brought into production on schedule. The Nov. 4 pre-feasibility study is…
West Red Lake Gold Mines Ltd. (TSXV:WRLG) - PFS Clarifies the Hub and Spoke Plan, Costs Move Higher - Research Portal
On November 4th, West Red Lake (WRLG) released an integrated PFS for its 100% owned Madsen mine and Rowan project in Red Lake, ON, which we flagged as the key catalyst following the Q3/26 guidance cut. The study pairs Madsen with the high-grade Rowan satellite, using the Madsen mill as the processing hub, and outlines ~884koz Au over a 10-year mine life and an after-tax NPV5% of $764M at a long-term gold price of US$3,568/oz. The news was slightly negative, as a significant step-up in both capex and opex keeps Madsen's upside highly leveraged to the gold price. That said, the study de-risks the hub-and-spoke strategy, offering the first detailed view of the plan, and the duration of the higher-output window is a modest positive. Near term, execution risk remains, with Q3/26 showing Madsen still reliant on lower-grade remnant areas and short of skilled underground labor.
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