Red Lake (100% Ownership)

Red Lake – Improving operational performance

Our Red Lake Operations is an underground gold mine in north-western Ontario and is situated in one of the highest-grade Archean gold camps in Canada, on the traditional lands of the Wabauskang and Lac Seul First Nations. Acquired in April 2020, an operational transformation plan is underway to restore Red Lake to a premier Canadian gold mine with a 15+ year mine life targeting 200,000 ounces per annum and expansion once justified.

Our Red Lake Operations is an underground gold mine in north-western Ontario and is situated in one of the highest-grade Archean gold camps in Canada, on the traditional lands of the Wabauskang and Lac Seul First Nation. Red Lake demonstrated sustainable improvements in FY24 to enable positive cash generation and reliable delivery in FY25.

In FY24, Red Lake produced 112,700 ounces of gold at an AISC of $2,802 per ounce. Operating mine cash flow was $98.9 million, sustaining capital was $40.1 million and major capital was $168.0 million.

In FY25, Red Lake is guided to deliver approximately 125,000 to 145,000 ounces of gold at an AISC of $2,500 to $2,600.

Video: Red Lake overview

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