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West Red Lake Gold Reports Q1 2026 Financial Results and Operations Summary
VANCOUVER, British Columbia, May 26, 2026 (GLOBE NEWSWIRE) -- West Red Lake Gold Mines Ltd. (“West Red Lake Gold” or “WRLG” or the “Company”) (TSXV: WRLG)
About this update from West Red Lake Gold Mines Ltd
[{"type":"text","content":"\n \nVANCOUVER, British Columbia, May 26, 2026 (GLOBE NEWSWIRE) -- West Red Lake Gold Mines Ltd. (“West Red Lake Gold” or “WRLG” or the “Company”) (TSXV: WRLG) (OTCQB: WRLGF) announces its financial and operating results for the three months ended March 31, 2026 (“Q1 2026”). The Company also provides an operational update for Q1 2026 on the post commercial ramp up of the Madsen Mine (“Madsen”) located in the Red Lake mining district of Ontario. The Company will hold a webcast to discuss the results. Please refer to the webcast details provided near the end of this release for information on how to attend. All amounts are expressed in Canadian dollars (‘C$), unless otherwise indicated.\nQ1 2026 Highlights\n\nProduced 5,667 ounces of gold\nSold 6,165 ounces of gold at an average realized gold price(2) of US$4,938(1)\nRevenue of $41.8 million generating $15.3 million of income from mine operations\nAdjusted net earnings(2) of $6.4 million, or $0.02 per basic share\nEBITDA(2) of $3.3 million and adjusted EBITDA(2) of $14.4 million was generated\nCash cost(2) US$2,594(1) and all-in sustaining cost (“AISC”)(2) US$ 4,678(1)\nQuarter end cash balance of approximately $35.9 million\n\nFinancial key results for three months ended March 31, 2026(expressed in thousands of Canadian dollars, unless otherwise stated)\n\n\n\nOperating Statistics\nUnits\nFor the three months ended, March 31, 2026 \n\n\nGold produced\nounces\n5,667 \n\n\nGold sold\nounces\n6,165 \n\n\nAverage realized gold price(1)\nUS$/ounce\n4,938 \n\n\n \n \n \n\n\nFinancial Information\n \n \n\n\nGold revenue\n$\n41,755 \n\n\nIncome from mining operations\n$\n15,289 \n\n\nOperating margin\n%\n37% \n\n\nEBITDA(2)\n$\n3,285 \n\n\nAdjusted EBITDA(2)\n$\n14,398 \n\n\nAdjusted net earnings(2)\n$\n6,376 \n\n\nAdjusted earnings per share – basic(2)\n$\n0.02 \n\n\nSustaining capital(2)\n$\n15,365 \n\n\nGrowth capital(2)\n$\n3,612 \n\n\nCash cost per gold ounce sold(1),(2)\nUS$/ounce\n2,594 \n\n\nAISC per gold ounce sold(1),(2)\nUS$/ounce\n4,678 \n\n\nCash and cash equivalents\n$\n35,917 \n\n\n\n(1)Foreign exchange rate of CAD$/USD$ 1.3717(2) Refer to Non-IFRS Measures\nShane Williams, President and CEO, commented, “This first quarter represe...