West Red Lake seeks cheaper $95M debt following output cut - The Northern Miner

AI desk brief

West Red Lake Gold has agreed a binding term sheet for up to US$95M in cheaper debt to refinance Nebari and support Madsen/Rowan, with the new package priced at SOFR + 5.5% versus the existing loan’s SOFR + 8% margin and a 12% minimum rate floor. The financing follows a 26% cut to the midpoint of 2026 production guidance, to 27,000-32,000 oz from 35,000-45,000 oz, after Q3 output fell 8.4% q/q to 7,859 oz and nine-month production reached 22,102 oz.