Episode Details

West Red Lake Gold Mines (TSXV: WRLG) President and CEO Shane Williams joins Kitco Mining’s Investment Trends with Paul Harris at VRIC 2026 to discuss the company’s transition into commercial production at the Madsen Mine in Ontario’s Red Lake Gold District. Williams explains that commercial production reflects stable operations following ramp-up. “Once you get to that stability, you’re set and that’s where you declare commercial production,” he said.

Williams outlines a ramp-up toward 60,000 to 65,000 oz of gold per year and explains how West Red Lake rebuilt confidence in the asset through more than 180,000 meters of underground drilling, establishing a five-year mine plan and growing the workforce to about 250 people. With production underway, he says the company is beginning to generate free cash flow, allowing it to strengthen the balance sheet and fund growth.

The interview also explores how higher gold prices are reshaping economics at Madsen, lowering cutoff grades and expanding mineable tonnage. Williams outlines a hub-and-spoke strategy that could lift production toward 100,000 oz per year over time by feeding satellite deposits like Rowan into the Madsen mill, while rehabilitating an existing shaft to materially reduce haulage costs.

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00:34 - Declaring Commercial Production at Madsen
01:05 - What Commercial Production Means in Mining
01:54 - Rebuilding Confidence After Past Challenges
03:22 - Ramp-Up Plans and Regional Exploration
04:06 - How Gold Prices Impact Mine Economics
06:05 - Free Cash Flow and Balance Sheet Strategy
08:11 - Operator Experience as a Competitive Edge
10:34 - Key Catalysts and Growth Outlook
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