Oct. 28 at 10:28 PM
$WRLGF advances the Madsen Mine ramp-up in Ontario, reporting Q3/25 production of 7,055 ounces of gold — a 34% increase quarter-over-quarter.
Cantor Fitzgerald analyst Matthew O’Keefe, WRLG is executing a disciplined, methodical restart with strong operational progress:
• Throughput milestones: Ore movement exceeded 1,000 tpd, peaking at 1,400 tpd in late September.
• Grade strength: Sill development averaged 8.8 g/t gold, contributing up to 30% of milled tonnes.
• Operational readiness: Underground waste storage, shaft skipping (launching in November), and fleet expansion are all on schedule.
O’Keefe reaffirmed his Buy rating and C
$1.X.80 price target, noting WRLG’s CA
$40.7M financing in September provides “sufficient capital to complete ramp-up and bridge to commercial production.”
Commercial production remains on track for early 2026, supported by a comprehensive mine plan due year-end and exploration upside from the Rowan Project, targeting ~35,000 oz/year of future output.