West Red Lake Gold Mines Lowers Madsen Guidance to 27,000–32,000 oz; Shares Fall 12% - News and Statistics - IndexBox

AI desk brief

West Red Lake Gold Mines cut 2026 Madsen production guidance by about 25% to 27,000–32,000 oz from 35,000–45,000 oz, citing labour shortages and more difficult mining conditions in previously worked areas. The stock fell 12% to C$0.61, and the company said it needs more consistent output at Madsen after declaring commercial production in January.

Operationally, the mine is still dealing with selective extraction issues, added ground support needs and contractor support, despite a secondary crusher being commissioned. The shortfall highlights execution risk at a Canadian gold producer as the company works toward a combined Madsen-Rowan production plan and a prefeasibility study due later this year.