West Red Lake Gold Mines
- Company typePublic
- Founded1991
- HeadquartersToronto, Canada
- Headcount101–250
- GTM typeB2B
- OfferingServices
West Red Lake Gold Mines firmographics
Firmographics- Name
- West Red Lake Gold Mines
- Legal name
- West Red Lake Gold Mines Ltd.
- Website
- https://westredlakegold.com
- Company type
- Public
- Founded year
- 1991
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Ownership category
- akta.pro rank
West Red Lake Gold Mines industry classification
Industry- Product category
- Gold Mining
- NAICS
- Gold Ore and Silver Ore Mining (21222)
- SIC
- Gold And Silver Ores (1040), Metal Mining (1000)
- akta.pro primary industry
- Gold Mining (IMAKAEAA)
Keywords
Where West Red Lake Gold Mines is headquartered
LocationHeadquarters
- HQ city
- Toronto
- HQ country
- Canada
- HQ region
- North America
Offices2 records
Markets served
West Red Lake Gold Mines business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Operations, Personnel, Technology or R&D, Infrastructure, Supply Chain, Marketing or Sales
Revenue model
- Gold Production and Sales: Primary revenue stream from gold production at the Madsen Mine. The company produces and sells gold bullion at market prices. Q1 2026 revenue was $41.8 million from selling 6,165 ounces of gold at an average realized price of US$4,938 per ounce.
- Toll Milling Revenue: Planned future revenue from toll milling arrangements where the Rowan Project would process ore at nearby mills, generating processing fees based on tonnes milled.
Go-to-market motion1 record
Distribution channels1 record
Marketing channels5 records
West Red Lake Gold Mines product offering
Product offeringCore offering
West Red Lake Gold Mines is a Canadian gold producer that operates the Madsen Mine as its flagship asset in Ontario's Red Lake Gold District, producing and selling gold bullion at prevailing market prices. The company is executing a hub-and-spoke growth strategy using the Madsen mill as a central processing facility for satellite deposits including Rowan, Fork, and Starratt-Olsen across a 47 km² land package. It declared commercial production on January 1, 2026 and is targeting 120,000 oz/year by 2029.
Product overview
West Red Lake Gold Mines Ltd. is a Canadian gold mining company operating the Madsen Mine as its flagship asset in the Red Lake Gold District of Northwestern Ontario. The company's mining asset portfolio includes the Madsen Mine (producing), the Rowan Property (development stage with a positive PEA), the Fork Deposit (exploration/development), the Starratt-Olsen Mine (exploration), and the Mount Jamie deposit (exploration). The company processes gold ore through its mill facility and is advancing toward commercial production. The operations are focused on underground gold mining with exploration activities across its 47 km² land package.
Differentiator
Problem solved
Functional benefit
Products and services
- Gold Bullion Production (Madsen Mine) Underground gold mining and processing at the Madsen Mine in Ontario's Red Lake Gold District, producing gold bullion sold at market prices. Q1 2026 sales totaled 6,165 ounces at an average realized price of US$4,938/oz, generating C$41.8M revenue. Customers are commodity markets, refineries, and institutional buyers.
- Toll Milling Services (Planned) Planned third-party ore processing service using the central Madsen mill to process ore from satellite deposits in the Red Lake district. Would generate per-tonne processing fees, leveraging existing infrastructure to provide capital-efficient milling capacity to other mining operators.
Quantifiable outcome
- Q1 2026 production of 5,667 oz gold with 37% operating margin
- +2 more outcomes
Companies that use West Red Lake Gold Mines
Customer profileSegments2 records
Ideal customer profiles2 records
West Red Lake Gold Mines technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
West Red Lake Gold Mines partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- 1544230 Ontario Inc. and Gravel Ridge Resources Ltd.minorWRLG entered into a definitive agreement to acquire mining claim #925557 covering approximately 41 hectares, contiguous to the existing Mount Jamie target. Purchase price is $2,000 cash plus 10,000 common shares of WRLG.
Scale indicators10 records
Recent moves3 records
Expansion highlights4 records
West Red Lake Gold Mines competitors and assessment
Company assessmentDirect peers
- Evolution Mining: Australian gold producer that operates the Red Lake Gold Mine complex acquired from Newmont in 2022 - the most direct geographic peer as the only other major operator in the Red Lake Mining District where WRLG operates Madsen.
- Wesdome Gold Mines: Canadian-focused gold producer operating Eagle River and Kiena mines in Ontario - similar size, tier-1 jurisdiction, and high-grade underground mining model directly comparable to WRLG's Madsen operations.
- Argonaut Gold: Canadian junior gold producer with multiple operating mines - similar scale, single-tier jurisdictional mix, and comparable production profile with growth trajectory mirroring WRLG's hub-and-spoke strategy.
- Victoria Gold: Canadian gold producer operating the Eagle Gold Mine in Yukon Territory - similar size, single-asset profile, and ramp-up dynamics as WRLG with comparable Canadian-jurisdiction production scaling experience.
- Artemis Gold: Canadian gold developer building the Blackwater Mine in British Columbia - comparable development stage with tier-1 Canadian jurisdiction and similar production scaling trajectory to WRLG's planned Rowan development.
Broad incumbents
- Alamos Gold: Larger Canadian intermediate gold producer with operations across North America and Turkey - comparable tier-1 Canadian exposure with broader production base, longer operating history, and similar underground mining expertise.
- IAMGOLD: Canadian mid-tier gold producer with significant Ontario presence including Côté Lake mine - directly comparable jurisdictional footprint and underground mining focus though at meaningfully larger production scale.
- Equinox Gold: Canadian mid-tier gold producer with multiple operating mines across the Americas - similar size and tier-1 jurisdictional focus with comparable hub-and-spoke production model and growth ambitions.
- New Gold: Canadian intermediate gold producer with operations in Ontario (Rainy River) and British Columbia (New Afton) - direct jurisdictional comparable with Canadian-focused portfolio strategy and underground mining exposure.
- Agnico Eagle Mines: Major Canadian gold producer with extensive Ontario operations including Detour Lake and Macassa mines - benchmark tier-1 Canadian gold producer with similar underground mining expertise and Red Lake district heritage.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks7 records
Key highlights7 records
Customer concentration
West Red Lake Gold Mines social profiles
Digital presenceWest Red Lake Gold Mines financial estimates
Financial estimateRevenue estimate
Valuation estimate
West Red Lake Gold Mines leadership team
Management profileNumber of profiles
Profiles9 records
West Red Lake Gold Mines subsidiaries and ownership
Company hierarchySubsidiaries1 record
West Red Lake Gold Mines funding detail
Funding detailFunding overview
Funding rounds9 records
Investors3 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
West Red Lake Gold Mines M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about West Red Lake Gold Mines
What does West Red Lake Gold Mines do?
West Red Lake Gold Mines is a Canadian gold producer that operates the Madsen Mine as its flagship asset in Ontario's Red Lake Gold District, producing and selling gold bullion at prevailing market prices. The company is executing a hub-and-spoke growth strategy using the Madsen mill as a central processing facility for satellite deposits including Rowan, Fork, and Starratt-Olsen across a 47 km² land package. It declared commercial production on January 1, 2026 and is targeting 120,000 oz/year by 2029.
Is West Red Lake Gold Mines a public or private company?
West Red Lake Gold Mines is a public company. It is classified as public and is currently operating.
When was West Red Lake Gold Mines founded?
West Red Lake Gold Mines was founded in 1991. It employs 101 to 250 people.
Where is West Red Lake Gold Mines based?
West Red Lake Gold Mines is headquartered in Toronto, Canada, in the North America region.
How does West Red Lake Gold Mines make money?
Two revenue lines are on record. Gold Production and Sales are the primary driver. The others are toll Milling Revenue.
Who are West Red Lake Gold Mines's main competitors?
Direct peers on record are Evolution Mining, Wesdome Gold Mines, Argonaut Gold, Victoria Gold and Artemis Gold. Broad incumbents are Alamos Gold, IAMGOLD, Equinox Gold, New Gold and Agnico Eagle Mines.
Does West Red Lake Gold Mines have an API?
No public API is recorded for West Red Lake Gold Mines.
What industry is West Red Lake Gold Mines in?
West Red Lake Gold Mines's product category is Gold Mining. Its primary akta.pro industry code is IMAKAEAA, Gold Mining. Its NAICS code is 21222 and its SIC code is 1040.