West Red Lake Gold (TSXV: WRLG) released an integrated pre-feasibility study for its 100%-owned Madsen Mine and the Rowan Project in Ontario's Red Lake district. The 10-year plan targets about 884 thousand ounces of recovered gold, averaging 88 thousand ounces a year and 108 thousand ounces a year from 2029 to 2034, when Rowan begins production. At a long-term gold price of US$3,568 per ounce, after-tax NPV is C$764 million; at a gold price 10% higher (US$4,161 per ounce), NPV rises 31% to C$1.0 billion. LOM cash costs are US$1,795 per ounce and AISC is US$2,457 per ounce, with C$200 million of growth capital needed. The plan excludes the Wedge, Russet and Mount Jamie deposits and possible depth extensions, which the company says could extend mine life through future drilling, engineering and permitting.
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