Restarting Madsen: West Red Lake’s 2025 Production Plan with Shane Williams
In this interview at the Precious Metals Summit 2024, Shane Williams, President & CEO of West Red Lake Gold Mines Ltd. (TSXV: WRLG), offers insights into the improving gold market sentiment and recent sector M&A activity. He focuses on West Red Lake’s progress in restarting production at their Madsen project, noting that equipment is arriving on site in preparation for a 2025 restart.
Williams outlines the company’s initial production targets of 60,000-70,000 ounces per year, with potential to increase capacity to 1,500 tons per day. He shares recent high-grade drill results, underscoring the project’s potential. The CEO emphasizes West Red Lake’s strategy of starting small and growing gradually, a approach designed to avoid pitfalls that have affected other restart projects.
Looking ahead, Williams discusses key upcoming milestones for the company. These include a pre-feasibility study, ongoing drill results, and a bulk sample reconciliation. Throughout the interview, he highlights West Red Lake’s approach to de-risking the Madsen project and their long-term vision of evolving into a mid-tier producer over the next five years.
This discussion provides investors with a clear picture of West Red Lake’s near-term production plans, exploration potential, and strategic approach to growth in the competitive gold mining sector.
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