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May 23, 2025
West Red Lake Gold Mines (TSXV: WRLG) shares surged by almost 6% on Thursday after the company approved the restart of its idled Madsen mine in Ontario, with initial production expected to average 500 tonnes per day over the first two months and a ramp-up planned for the second half of the year. The decision comes ahead of the previously communicated mid-2025 target, and the mine is expected to produce 2.5 million oz. of gold at an average grade of 9.7 grams per tonne between 1938 and 1999. With a market capitalization of approximately C$285 million ($206 million), West Red Lake's shares have given the Canadian miner a significant boost.
Source: www.mining.com
Azimut Exploration reported high-grade antimony and gold intercepts from its Wabamisk project in Quebec's James Bay region, including 6.5 meters grading 3.43% antimony and 2.37 grams gold per ton, and 51.5 meters at 1.1% antimony and 0.38 gram gold, as part of an expanded drill program that included 51 diamond drill holes over 6,396 meters.
Source: www.mining.com
Billionaire Chinese trader Bian Ximing has made a massive bet on copper, staking nearly $1 billion on the metal after quietly earning $1.5 billion from a bold gold trade, despite the more cautious approach of other market participants who predict prices could reach $12,000 to $13,000 per ton.
Source: www.miningfeeds.com
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