West Red Lake Gold Completes Phase One of Madsen Mine Shaft Refurbishment
Event summary
- West Red Lake Gold has completed Phase One of the Madsen Mine Shaft refurbishment, achieving an initial hoisting capacity of approximately 200 tonnes per day.
- Phase Two and Phase Three upgrades are planned to increase hoisting capacity to 700 tpd by H2 2027 and 2,000 tpd by H2 2028, respectively.
- The refurbishment aims to restore the shaft to its historical design capacity, supporting long-term mining at deeper levels of the Madsen Mine.
- All major equipment for Phase Two is on site, with installation and upgrade work underway.
The big picture
The refurbishment of the Madsen Mine Shaft is a strategic move to enhance material handling capacity and improve mining efficiency, aligning with broader industry trends towards optimizing underground mining operations. The phased approach allows West Red Lake Gold to progressively commission the shaft while continuing to invest in infrastructure required to unlock its full long-term value.
What we're watching
- Execution Risk
- Whether the company can successfully complete Phase Two and Phase Three upgrades on schedule and within budget.
- Operational Impact
- How the increased hoisting capacity will affect overall mining efficiency and production rates at the Madsen Mine.
- Cost Management
- The pace at which the refurbishment will contribute to lowering operating costs and all-in sustaining costs over time.
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