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West Red Lake Gold reports 51% increase in Q2 gold production
West Red Lake Gold Mines Ltd. reported a significant increase in its second-quarter 2026 financial and operating results from the Madsen Mine in Ontario. Gold production rose 51% to 8,576 ounces, up from 5,667 ounces in the first quarter.
Financial performance saw substantial growth, with revenue increasing 17% to $49.0 million and adjusted net earnings rising 98% to $12.6 million. The company also achieved a 30% reduction in all-in sustaining costs (AISC), bringing the cost down to US$3,284 per ounce sold, which falls within the company’s 2026 guidance.
Operational improvements included a 46% increase in material mined compared to Q1. The company reported $9.7 million in positive free cash flow for the quarter and concluded the period with approximately $31.2 million in cash and cash equivalents.
Entities
Harpreet Dhaliwal · Madsen Mine · Ontario · Shane Williams · West Red Lake Gold Mines Ltd.
Claims
What the coverage asserts, and how many sources carry each claim.
- [○ 1 SOURCE] The company ended Q2 with approximately $31.2 million in cash and cash equivalents. pressreach.com
- [○ 1 SOURCE] All-in sustaining cost (AISC) decreased 30% to US$3,284 per ounce sold in Q2 2026. pressreach.com
- [● 2 SOURCES] Gold production increased 51% to 8,576 ounces in Q2 2026 compared to Q1 2026. pressreach.com
- [○ 1 SOURCE] Adjusted net earnings increased 98% to $12.6 million in Q2 2026. pressreach.com
- [○ 1 SOURCE] The company generated $9.7 million of positive free cash flow during Q2 2026. pressreach.com
- [○ 1 SOURCE] Revenue for Q2 2026 increased 17% to $49.0 million. pressreach.com