West Red Lake Gold Cuts 2026 Output Range After Madsen Ramp-Up Falls Short - ad-hoc-news.de

AI desk brief

West Red Lake Gold cut 2026 Madsen guidance to 27,000-32,000 oz from 35,000-45,000 oz after staffing shortages and a slower-than-planned ramp-up, underscoring execution issues at the mine. Q3 output was 7,859 oz, taking YTD production to 22,102 oz, with September production at 3,320 oz, the strongest month since restart.

The stock fell 2.4% against a soft bullion backdrop. Reuters said gold has dropped to its lowest level since mid-July as rising oil prices, inflation worries and expectations for further US rate hikes weigh on the metal, adding a macro headwind to the company-specific guidance cut.