Wesdome Intersects New Zone at Kiena’s Dubuisson Deposit

Wesdome Gold Mines  (TSX: WDO)

Announced a new mineralized zone at the Dubuisson deposit, located east of the Kiena Deep deposit at the Company’s 100% owned Kiena Mine Complex in Val-d’Or, Québec.

The new zone has been intersected by drill hole DB-25-068, returning 4.1 g/t Au (uncut) over 25.8 metres (core length).

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Wesdome Gold mine location map

Mine location map – Credits Wesdome Gold Mines

 

 

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Wesdome Gold TSX : WDO
Stage Production, Development
Metals Gold
Market cap C3.15 B   @ C$29.86
Location Ontario and Quebec, Canada
Website www.wesdome.com

 

 

 

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Wesdome Intersects New Zone at Kiena’s Dubuisson Deposit

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Returns 4.1 g/t Au (uncut) over 25.8 metres (core length) below current resource

TORONTO, Oct. 27, 2025 (GLOBE NEWSWIRE) — Wesdome Gold Mines Ltd. (TSX:WDO, OTCQX:WDOFF) (“Wesdome” or the “Company”) is pleased to announce a new mineralized zone at the Dubuisson deposit, located east of the Kiena Deep deposit at the Company’s 100% owned Kiena Mine Complex in Val-d’Or, Québec.

The new zone has been intersected by drill hole DB-25-068, returning 4.1 g/t Au (uncut) over 25.8 metres (core length).

Located approximately 100 metres below, and lateral to, the Dubuisson North Zone and currently interpreted to be between the Dubuisson North and South zones, this new zone represents a compelling opportunity to expand the Dubuisson deposit at depth.

The combined grade and thickness are particularly encouraging, as the intercept highlights the potential for future bulk-tonnage mineralization at Kiena.

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Highlights    

New Dubuisson Zone

Drilling confirms a new mineralized zone and resource expansion potential

  • Hole DB-25-068: 4.1 g/t Au over 25.8 metres (from 410.4 metres, core length, uncapped)
                Including: 6.1 g/t Au over 6.1 metres (from 412.5 metres, core length, uncapped)

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Anthea Bath, President and Chief Executive Officer, stated,

“This new mineralized zone underscores the strong potential for expansion at the Dubuisson deposit.

“The intercept’s grade, width, and proximity to existing infrastructure – within 350 metres of the Level 33 exploration drift – make it particularly significant.

“Like the Shawkey South Zone, this area remains completely open at depth and exhibits strong geological similarities to the adjacent Goldex mine.

“This style of mineralization is particularly exciting as it highlights the potential for bulk-tonnage underground deposits within our land package. While it’s still early days, we are beginning to think about how such deposits could augment future production.”

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To read the full news release, please click HERE

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To view the latest share price and stock chart, please click HERE

,

To View Wesdome Gold Mine’s historical news, please click here

.

..Live spot metal prices can be found HERE

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City Investors Circle is based in the financial district in the City of London

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

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=======

,

This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

Disclosure

At the time of writing the author holds no shares in Wesdome Gold Mines.

.

To read our full terms and conditions, please click HERE

.



Wesdome Announces Q3 2025 Results and Record Quarterly Production

Wesdome Gold Mines (TSX: WDO)

Announced its operating results for the three and nine months ended September 30, 2025.

The Company is also providing notice that it will release its financial results after markets close on

 

 

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Wesdome Gold Mines

Kiena Mine, Quebec – Courtesy of Wesdome Gold Mines

 

 

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Wesdome Gold TSX : WDO
Stage Production, Development
Metals Gold
Market cap C3.29 B   @ C$21.79
Location Ontario and Quebec, Canada
Website www.wesdome.com

 

 

 

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Wesdome Announces Third Quarter 2025 Operating Results and Record Quarterly Production

All amounts are expressed in Canadian dollars unless otherwise indicated

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Toronto, Ontario – October 21, 2025– Wesdome Gold Mines Ltd. (TSX: WDO, OTCQX: WDOFF) (“Wesdome” or the “Company”) today announces its operating results for the three and nine months ended September 30, 2025 (“Q3 2025” and “YTD 2025”).

The Company is also providing notice that it will release its financial results after markets close on Tuesday, November 4, 2025, and host a conference call and webcast the following morning.

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Q3 and YTD 2025 Operating Performance

Q3 2025 Q3 2024 % Change YTD 2025 YTD 2024 % Change
Ore milled (tonnes)
Eagle River 71,575 57,984 23% 180,208 162,168 11%
Kiena 50,147 51,321 (2%) 149,136 154,334 (3%)
Average grade (grams per tonne)
Eagle River 15.3 13.1 17% 15.9 13.4 18%
Kiena 10.2 13.1 (22%) 10.6 11.1 (5%)
Gold production (ounces)
Eagle River 34,296 23,688 45% 88,907 67,859 31%
Kiena 16,169 21,421 (25%) 50,031 54,607 (8%)
Total gold production 50,465 45,109 12% 138,938 122,466 13%
Production sold (ounces)
  Production sold 47,400 42,900 10% 138,600 118,600 17%

 

 

 

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Anthea Bath, President and Chief Executive Officer, commented,

“This quarter’s consolidated production of more than 50,000 ounces set a new high-water mark for Wesdome driven by record production from Eagle River.

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“Eagle River had an exceptional third quarter, once again setting records for mill throughput and gold production.

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“Benefits from ongoing efforts to debottleneck the mill, improve dilution, and increase ore availability are materializing and resulting in increased production at lower unit costs, all while advancing critical development. Eagle River is on track to deliver the high-end of full-year production guidance.

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“As previously indicated, Kiena conducted a longer than planned hoist shutdown in July, which resulted in more than two weeks without mill feed.

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“While forecasts at the time suggested that the shortfall could be recovered, inconsistent execution together with limited operational flexibility continued to impact performance through August and September.

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“Kiena’s fourth quarter is expected to be its strongest of the year, as high-grade ore from Kiena Deep is augmented by ore from Presqu’île.

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“Kiena’s 2025 guidance will be updated with the release of our financial results in early November. Importantly, we remain on track to meet full-year consolidated production guidance, albeit toward the lower end of the range.

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“With record gold prices and strong production driving substantial free cash flow, our financial position continues to grow and strengthen – with $266 million in cash and total liquidity of more than $600 million at the end of September.

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“This allows us to advance our organic growth initiatives while initiating a return of capital to shareholders.

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“Accordingly, we have filed a notice of intention with the Toronto Stock Exchange to implement a normal course issuer bid for Wesdome shares.

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“Responsible mining is at the heart of Wesdome’s role as a trusted neighbour and employer.”

 

——-

 

Wesdome’s 2024 Environmental, Social, and Governance report has been filed on SEDAR+ and can be found here.

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Conference Call and Webcast

Management will host a conference call and webcast to discuss the Company’s financial and operating results. A question-and-answer session will follow management’s prepared remarks. Details of the webcast are as follows:

Date and time: Wednesday, November 5, 2025 at 10:00 a.m. ET

Dial-in numbers: To access the call by telephone, dial 1.646.968.2525 or 1.888.596.4144 (toll-free).

The event passcode is: 8215935. Please allow up to 10 minutes to be connected.

Webcast link: https://events.q4inc.com/attendee/584921644

Pre-registration is required for this event. It is recommended you join 10 minutes prior to the start of the event. The webcast can also be accessed from the home page of the Company’s website at www.wesdome.com

The Company’s financial statements and management’s discussion and analysis will be available at www.wesdome.com and on SEDAR+ www.sedarplus.ca the evening of Tuesday, November 4, 2025.

.

To read the full news release please click HERE

 

——-

.

To view the latest share price and stock chart, please click HERE

,

To View Wesdome Gold Mine’s historical news, please click here

.

..Live spot metal prices can be found HERE

.

=======

 

City Investors Circle is based in the financial district in the City of London

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

Disclosure

At the time of writing the author holds no shares in Wesdome Gold Mines.

.

.



Wesdome Gold Mines Completes Acquisition of Angus Gold

Wesdome Gold Mines (TSX: WDO)

Wesdome and Angus Gold Inc. (TSX-V: GUS announced the successful acquisition by Wesdome of all of the issued and outstanding common shares of Angus not already owned by Wesdome pursuant to a plan of arrangement

 

 

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Wesdome Gold TSX : WDO
Stage Production, Development
Metals Gold
Market cap C2.82 B   @ C$18.75
Location Ontario and Quebec, Canada
Website www.wesdome.com

 

 

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Wesdome Gold Mines Completes Acquisition of Angus Gold

All amounts are expressed in Canadian dollars unless otherwise indicated

TORONTO, June 27, 2025 (GLOBE NEWSWIRE) — Wesdome Gold Mines Ltd. (TSX: WDO, OTCQX: WDOFF) (“Wesdome” or the “Company”) and Angus Gold Inc. (TSX-V: GUS, OTC: ANGVF) (“Angus”) are pleased to announce the successful acquisition by Wesdome of all of the issued and outstanding common shares of Angus not already owned by Wesdome pursuant to a plan of arrangement (the “Arrangement”).

The Arrangement became effective as of today’s date, resulting in Angus becoming a wholly owned subsidiary of Wesdome. In accordance with the terms of the Arrangement, former Angus shareholders, excluding Wesdome, have received $0.62 in cash plus 0.0096 of a Wesdome share for each Angus common share previously held.

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Anthea Bath, President and Chief Executive Officer said;

“The acquisition of the prospective Angus property adjacent to our Eagle River Mine represents an exciting addition to our portfolio, enhancing our long-term growth potential through greenfield opportunities.

“This regional land package consolidation supports our disciplined growth strategy, and we’re pleased to welcome key members of the Angus team as we work to unlock meaningful value for our shareholders.”

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——-

To read the full news release please click HERE

To View Wesdome Gold Mine’s historical news, please click here

..Live spot metal prices can be found HERE

.

=======

City Investors Circle is based in the financial district in the City of London

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

Disclosure

At the time of writing the author holds no shares in Wesdome Gold Mines.

.

To read our full terms and conditions, please click HERE

.



Wesdome Provides Kiena Exploration Update

Wesdome Gold Mines (TSX: WDO)

Provided a comprehensive update on its underground exploration activities at its wholly-owned Kiena mine in Val-d’Or, Québec.

Highlight is Hole N127-7035: 2,349.9 g/t Au uncapped over 2.9 m core length (32.6 g/t Au capped).

 

 

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Wesdome Gold Mines

Wesdome Gold Mines Kiena Mine, Quebec – Courtesy of Wesdome Gold Mines

 

 

Wesdome Provides Kiena Exploration Update; Reports High-Grade Mineralization Including 2,349.9 g/t Gold (Uncut) Over 2.9 Metres (Core Length)

TORONTO, June 25, 2025 (GLOBE NEWSWIRE) — Wesdome Gold Mines Ltd. (TSX:WDO, OTCQX:WDOFF) (“Wesdome” or the “Company”) today provides a comprehensive update on its underground exploration activities at its wholly-owned Kiena mine (“Kiena”) in Val-d’Or, Québec.

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Highlights

Kiena Deep – North Limb 
Conversion drilling confirms high-grade mineralization within A1 and A2 lenses in Kiena Deep

  • Hole N127-7035: 2,349.9 g/t Au uncapped over 2.9 m core length (32.6 g/t Au capped)3
  • Hole N127-7035: 89.0 g/t Au uncapped over 3.6 m core length (23.2 g/t Au capped, 3.3 m true width)

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Anthea Bath, President and Chief Executive Officer, stated,

“With 21,000 metres of exploration drilling completed so far this year at Kiena alone, our 2025 exploration program is progressing exceptionally well.

“The completion of new underground drill platforms last year has significantly expanded our reach, improved drill angles, and provided access to targets that were previously unavailable to drill from underground. This is delivering exactly the flexibility and precision we need to ensure resource growth keeps up with higher production levels.

“In particular, drilling in Kiena Deep and the Kiena Deep Footwall Zone has delivered encouraging results. The intersection of high grades on the North Limb of the A1 and A2 lenses supports the conversion of high-grade inferred material and reinforces confidence in our ability to mine these zones effectively given their location within competent basalt.

“Importantly, drilling year-to-date has confirmed the validity of our geological models, further reinforcing the potential to expand existing resources.

“Advancing the fill-the-mill strategy is a key part of our exploration program, and early results from the B Zone and the Wish Area suggest these zones could provide future incremental sources of ore.

“Each of these areas is adjacent to existing infrastructure, allowing for efficient development should they meet required grade and tonnage thresholds. We continue to evaluate these and other opportunities, including Presqu’île and Dubuisson as we advance the broader exploration program.

“Looking forward, we are excited to ramp up the summer barge drilling program, targeting high priority areas identified in last year’s summer program, including those at the Duchesne and Northwest zones.

“Surface drilling at Presqu’île and underground drilling at Dubuisson will also commence imminently. With both the underground and surface programs active, we look forward to highlighting the full upside potential at Kiena.”

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——-

 

To read the full news release please click HERE

To View Wesdome Gold Mine’s historical news, please click here

..Live spot metal prices can be found HERE

.

=======

City Investors Circle is based in the financial district in the City of London

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

Disclosure

At the time of writing the author holds no shares in Wesdome Gold Mines.

.

.



Wesdome Announces First Quarter 2025 Production

Wesdome Gold Mines (TSX: WDO)

Announced its production results for the first quarter ended March 31, 2025.

The Company is also providing notice that it will release its Q1 2025 financial results after markets close on Tuesday, May 13, 2025.

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Wesdome Gold Mines - Eagle River underground mine

Wesdome Gold Mines – Eagle River underground mine – Courtesy of Wedsdome Gold Mines Ltd.

 

 

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Wesdome Gold TSX : WDO
Stage Production, Development
Metals Gold
Market cap C2.44 B   @ C$16.69
Location Ontario and Quebec, Canada
Website www.wesdome.com

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Wesdome Announces First Quarter 2025 Production; Provides Timing of First Quarter Financial Results and Webcast

TORONTO, April 10, 2025 (GLOBE NEWSWIRE) — Wesdome Gold Mines Ltd. (TSX: WDO, OTCQX: WDOFF) (“Wesdome” or the “Company”) today announces its production results for the first quarter ended March 31, 2025 (“Q1 2025”).

The Company is also providing notice that it will release its Q1 2025 financial results after markets close on Tuesday, May 13, 2025 and host a conference call and webcast the following morning on May 14, 2025.

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Q1 2025 Production Performance

  Q1 2025 Q1 2024 Change
       
Ore milled (tonnes)      
Eagle River 60,010 51,632 16%
Kiena 48,690 45,344 7%
       
Average head grade (g/t)      
Eagle River 15.6 15.5 1%
Kiena 10.8 5.9 83%
       
Gold production (oz)      
Eagle River 28,999 24,899 16%
Kiena 16,693 8,423 98%
       
Total gold production 45,692 33,322 37%
       
Production sold 45,300 35,700 27%
       

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Anthea Bath, President and CEO of Wesdome, commented,

“We are pleased to report that total gold production for the first quarter exceeded our expectations, and we remain on track to meet our full-year production guidance.

“As previously outlined, we expect a second-half weighted production profile with the fourth quarter projected to account for approximately 30%, and all-in sustaining costs per ounce in the first half of the year to be approximately 15% above full-year guidance, reflecting the timing of production and sustaining capital expenditures.

“Eagle River had a strong start to the year driven by higher-than-anticipated average head grade from the 300 Zone.

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“The operations team continues to execute well against the planned mining sequence, benefiting from positive grade reconciliation and the processing of ore stockpiled in late 2024.

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“We continue to expect Eagle River to produce between 100,000 and 110,000 ounces of gold in 2025.

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“Kiena’s production in the first quarter nearly doubled compared to the same period last year, reflecting the ongoing ramp-up of high-grade feed from the Kiena Deep Zone that commenced in April 2024.

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“Underground mining activities in select areas of the South and North Limbs as well as Kiena Deep A2 Zone are transitioning from a primarily long-hole mining method to a hybrid approach, combining cut-and-fill and long-hole stoping.

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“We are steadily ramping up this new approach, which is already delivering encouraging results early in the second quarter and helping to drive more predictable performance.

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“With a strong first quarter, we are well-positioned to achieve our operational targets for the remainder of the year.”

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Conference Call and Webcast

Management will host a conference call and webcast to discuss the Company’s Q1 2025 financial and operating results. A question-and-answer session will follow management’s prepared remarks. Details of the webcast are as follows:

Date and time:   Wednesday, May 14, 2025 at 15:00 UK time
     
Dial-in numbers:   To access the call by telephone, dial 1.646.968.2525 or 1.888.596.4144 (toll-free).
The event passcode is: 8215935. Please allow up to 10 minutes to be connected.
     
Webcast link:   https://events.q4inc.com/attendee/291203613 
    Pre-registration is required for this event. It is recommended you join 10 minutes prior to the start of the event. The webcast can also be accessed from the home page of the Company’s website at www.wesdome.com.

 

 

.

To read the full news release, please click HERE

 

To View Wesdome Gold Mine’s historical news, please click here

..

City Investors Circle is based in the financial district in the City of London

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

Disclosure

At the time of writing the author holds no shares in Wesdome Gold Mines.

.

.

.



Wesdome Extends High Grade Mineralization Across Multiple Zones

Wesdome Gold Mines (TSX: WDO)

Updated on underground exploration activities at the Company’s wholly-owned Eagle River Mine near Wawa, Ontario.

Drilling has extended the high grade zone 150 metres to the east, adjacent to existing infrastructure.  Hole 758-E-456: 71.7g/t Au over 3.3 m core length (58.2g/t Au capped, 2.8 m true width).

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Wesdome Gold Mines

Wesdome Gold Mines Kiena Mine, Quebec.

 

 

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Wesdome Gold TSX : WDO
Stage Production, Development
Metals Gold
Market cap C$1.6 B   @ C$11.12
Location Ontario and Quebec, Canada
Website www.wesdome.com

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Wesdome Extends and Confirms High Grade Mineralization Across Multiple Zones Near Eagle River Mine Infrastructure

TORONTO, July 03, 2024 (GLOBE NEWSWIRE) — Wesdome Gold Mines Ltd. (TSX:WDO, OTCQX:WDOFF) (“Wesdome” or the “Company”) today provides an update on underground exploration activities at the Company’s wholly-owned Eagle River Mine (“Eagle River”) near Wawa, Ontario.

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Highlights

6 Central Zone (Figure 1, Table 1)1,2
Drilling has extended the high grade zone 150 metres to the east, adjacent to existing infrastructure:

  • Hole 758-E-456: 71.7g/t Au over 3.3 m core length (58.2g/t Au capped, 2.8 m true width)
    • Including 233.6 g/t Au uncut over 0.5 m core length
    • Including 144.5 g/t Au uncut over 0.4 m core length
  • Hole 758-E-463: 93.7g/t Au over 3.0 m core length (59.7g/t Au capped, 2.6 m true width)
    • Including 339.4 g/t Au uncut over 0.4 m core length
    • Including 193.7 g/t Au uncut over 0.3 m core length

 

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Ms. Anthea Bath, President and Chief Executive Officer, commented,

“These drilling results at Eagle River underscore the prospectivity across this asset, particularly as the high grade 6 Central Zone continues to expand down-plunge to the east, and the continuity and extension potential of the Falcon 311 and 300 zones is now being confirmed in follow-up drilling.

“This year’s exploration program at Eagle River is expanding the existing resource base of known zones and identifying targets near existing infrastructure.

“In the coming months, our objective is to integrate results from this drill program with recently initiated asset optimization studies to potentially extend mine life, leverage existing development more effectively and increase utilization of Eagle River’s 1,200 tonne per day mill.”

.

.

To View Wesdome Gold Mine’s historical news, please click here

.

——-

.

To read the full news release, please click HERE

.

City Investors Circle is based in the financial district in the City of London

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

Disclosure

At the time of writing the author holds no shares in Wesdome Gold Mines.

.



Wesdome Reports Q1 2024 Financial Results

Wesdome Gold (TSX: WDO)

Announced its results for the three months ended March 31, 2024 (“Q1 2024”).

Consolidated gold production was 33,322 ounces at cash costs per Oz of US$1,125) and AISC per ounce of US$1,650.

 

 

.

Wesdome Gold mine location map

Wesdome Gold – Mine location map

 

 

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Wesdome Gold TSX : WDO
Stage Production, Development
Metals Gold
Market cap C$1.6 B   @ C$11.12
Location Ontario and Quebec, Canada
Website www.wesdome.com

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Wesdome Reports First Quarter 2024 Financial Results

TORONTO, May 08, 2024 (GLOBE NEWSWIRE) — Wesdome Gold Mines Ltd. (TSX:WDO, OTCQX:WDOFF) (“Wesdome” or the “Company”) today announced its results for the three months ended March 31, 2024 (“Q1 2024”). Preliminary operating results for Q1 2024 were disclosed on April 15, 2024.

All amounts are expressed in Canadian dollars unless otherwise indicated.

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Q1 2024 Highlights

  • Consolidated gold production was 33,322 ounces at cash costs per ounce1of $1,517 per ounce (US$1,125) and all-in sustaining costs (“AISC”) per ounce1of $2,226 (US$1,650).
  • Net income increased to $10.7 million, or $0.07 per share, an increase of $11.1 million from the corresponding period in 2023.
  • Cash margin1was $46.6 million, representing a 36% increase relative to the prior year quarter mainly due to a higher Canadian dollar realized gold price and increase in ounces sold.
  • Operating cash flow was $46.5 million, or $0.31 per share1, $41.4 million higher than the corresponding period in 2023 mainly due to the higher cash margin and an increase in cash from working capital changes.
  • Free cash flow1of $19.5 million was $39.0 million higher than the corresponding period in 2023 mainly due to higher operating cash flow partially offset by an increase in capital expenditures.
  • Available liquidity of $169.5 million, including $48.3 million in cash and $121.2 million of undrawn availability under the Company’s revolving credit facility.

.

.

Anthea Bath, President and CEO, commented:

“We delivered a solid first quarter on the back of higher-grade material at Eagle River, as a result of short-term positive grade reconciliation and mine sequencing relative to plan.

.

“As anticipated, in the second quarter we began processing higher grade material from Kiena Deep, which is expected to trend upwards over the balance of the year and thereby drive margin expansion.

.

“Exploration underpins our success, and we continue to identify new opportunities across both mine sites to unlock value. This year’s extensive exploration program is already yielding exciting results, including the intercept of high grades near mine infrastructure at Kiena Deep and continued growth in the recently discovered Falcon 311 and 300 zones.

.

“Our balance sheet continues to strengthen with meaningful improvements in both cash and total liquidity in the first quarter. We took advantage of increased cash flow in the quarter, reducing the amount outstanding on our revolving credit facility by $10 million and putting us on track to repay the remaining balance by Q3.

.

“Results to date are aligned with our expectations and the team is focused on execution and delivering on full-year guidance and strategic objectives. We are well positioned to achieve higher production at declining unit costs with increased free cash flow in 2024.” .

——-

 

To read the full news release please click HERE

.

City Investors Circle is based in the financial district in the City of London

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

Disclosure

At the time of writing the author holds no shares in Wedome Gold Mines.

.



Wesdome Continues to Grow Falcon 311 Zone at Eagle River

Wesdome Gold Mines (TSX: WDO)

Announced additional drill results from the recently discovered Falcon 311 Zone hosted in volcanics west of the mine diorite at the Company’s wholly-owned Eagle River Mine  near Wawa, Ontario.

 

 

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Wesdome Gold mine location map

Wesdome Gold – mine location map

 

Wesdome Continues to Grow Recently Discovered High Grade Falcon 311 Zone at Eagle River

 

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TORONTO, Feb. 20, 2024 (GLOBE NEWSWIRE) —Wesdome Gold Mines Ltd. (TSX: WDO, OTCQX: WDOFF) (“Wesdome” or the “Company”) today announced additional drill results from the recently discovered Falcon 311 Zone hosted in volcanics west of the mine diorite at the Company’s wholly-owned Eagle River Mine (“Eagle River”) near Wawa, Ontario.

Confirmation of continuity of the Falcon 311 Zone mineralization across mineable widths:

  • Hole 857-E-24: 269.6 g/t Au over 2.3 m core length (26.7 g/t Au capped,1.5 m true width)
    • Including 1,261 g/t Au over 0.5 m
  • Hole 857-E-16A: 53.0 g/t Au over 2.9 m core length (28.6 g/t Au capped, 1.9 m true width)
  • Hole 857-E-04: 24.7 g/t Au over 2.0 m core length (24.7 g/t Au capped, 1.5 m true width)

All assays capped at 125 g/t Au. True widths are estimated based on 3D model construction

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Ms. Anthea Bath, President and Chief Executive Officer commented:

“Ongoing drilling continues to consistently expand the newly discovered Falcon 311 Zone and highlight the upside potential for growth within our existing mine footprint at Eagle River.

“By leveraging our experience and understanding of the Falcon 7 Zone, the team was able to quickly identify and define this new discovery at a higher hit rate per hole. Recall, Falcon 7 was initially discovered in 2019 and in production by 2021.

“Falcon 311 remains open in all directions, including up plunge towards surface, and has the potential to provide additional mining horizons and generate strong returns by benefiting from existing mine infrastructure.”

“Falcon 311 is now the second zone identified in the volcanic rocks west of the mine diorite, confirming the prospectivity in an area that has seen limited drilling historically.

“The exploration along this horizon as well as the definition and expansion of this new discovery will remain a priority for drilling in the coming months.”

.

To read the full news release, please click HERE

.

=======

If you need clarification of any information contained in this note, or have any questions, I will be delighted to assist – Please email andrew@city-investors-circle.com

=======

.

City Investors Circle is based in the financial district in the City of London

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

.

Disclosure

At the time of writing the author holds no shares in Wesdome Gold Mines.

.

Live spot metal prices can be found HERE

.



Wesdome Drilling Continues to Return High Grades

Wesdome Gold Mines (TSX: WDO)

Announced additional drill results from the recently discovered zone hosted in volcanics west of the mine diorite and additionally from mineralization identified along the eastern margin of the mine diorite at the Company’s wholly-owned Eagle River Mine in Wawa, Ontario.

 

 

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Wesdome Gold Mines - Eagle River underground mine

Wesdome Gold Mines – Eagle River underground mine

 

 

 

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Wesdome Drilling Continues to Return High Grades Over Mineable Widths From Recently Discovered Zones Both West and East of the Mine Diorite at the Eagle River Mine

11/12/2023

TORONTO, Dec. 11, 2023 (GLOBE NEWSWIRE) — Wesdome Gold Mines Ltd. (TSX: WDO, OTCQX: WDOFF) (“Wesdome” or the “Company”) today announces additional drill results from the recently discovered zone hosted in volcanics west of the mine diorite and additionally from mineralization identified along the eastern margin of the mine diorite at the Company’s wholly-owned Eagle River Mine (“Eagle River”) in Wawa, Ontario.

,

Ms. Anthea Bath, President and CEO commented:

“Results from ongoing drilling continue to better define and expand the newly discovered zone of mineralization, now known as the Falcon 311 zone.

“The intervals are significant in that they are broader than what is typical for Eagle River, which bodes well for potential mineability. We are also highly encouraged by initial drilling along the eastern contact of the mine diorite that is already returning high grades from within the volcanic rocks.

“Both these new areas have the potential to provide additional mining horizons and optimize use of current infrastructure, ultimately providing additional reserves extending mine life and/or mill throughput.

Having discovered gold mineralization both east and west of the mine highlights the strength of the mineralized system and the potential of the surrounding volcanic rocks that have received limited exploration in recent years.”

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In October, the Company announced initial drill results that returned high grade gold values west of the mine diorite .

Follow up drilling has confirmed that the zone extends to the 900-metre level and remains open down plunge.

Additionally, several of the most recent intersections are wider in width than is typical for the Eagle River mine, often greater than 5 metres true thickness.

Furthermore, distribution of gold grades are generally more consistent across the zone than in the mine diorite. The definition and expansion of this new discovery will remain a priority for drilling in the coming months.

.

To read the full news release please click HERE

.

=======

If you need clarification of any information contained in this note, or have any questions, I will be delighted to assist – Please email andrew@city-investors-circle.com

=======

.

City Investors Circle is based in the financial district in the City of London

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

.

Disclosure

At the time of writing the author holds no shares in Wesdome Gold Mines.

.



Wesdome Drilling Expands High Grade Zone

Wesdome Gold Mines (TSX: WDO)

Announced results from the ongoing underground exploration drilling program at the Company’s wholly-owned Eagle River Mine in Wawa, Ontario. 

 

 

.

Wesdome Gold Mines

Wesdome Gold Mines Kiena Mine, Quebec

 

 

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Wesdome Gold TSX : WDO
Stage Production, Development
Metals Gold
Market cap C$1 B   @ C$7.26
Location Ontario and Quebec, Canada

Wesdome Exploration Drilling Continues to Expand High Grade 300 East Zone Down Plunge at the Eagle River Mine Returning 40.7 Grams Per Tonne Gold Cut Over 6.0 Metres True Width

14/06/2023

TORONTO, June 14, 2023 (GLOBE NEWSWIRE) — Wesdome Gold Mines Ltd. (TSX: WDO) (“Wesdome” or the “Company”) today announces results from the ongoing underground exploration drilling program at the Company’s wholly-owned Eagle River Mine in Wawa, Ontario.

Ongoing extension and definition drilling of the 300 East Zone has continued to confirm the continuity of the geometry and the consistency of the high-grade mineralization down plunge.

The 300 East Zone, previously defined from the 750 m-level to 1,400 m-level, has now been extended to the 1,600 m-level and remains open down plunge. The width of the quartz veining is typically less than 1.5 metres true width; however, recent drilling along the eastern margin of the 300 East Zone has returned wider widths.

This occurs in an area that is interpreted to be at the intersection of several structures having different orientations and/or folding resulting in wider zones of gold mineralization. These wider widths and more complex geometry are similar to that of the previously mined 303 Lens located approximately 400 m up plunge from this area, which was mostly mined in 2019.

Highlights of the recent drilling are found below an

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Warwick Morley-Jepson, Board Chair and Interim CEO commented,

“These results continue to confirm the geometry and high grades of the 300 East Zone. The objective of drilling this zone is to define a second, higher-grade lens similar to the previously mined 303 Lens that could potentially positively impact gold production.

“The 303 Lens was mined primarily in 2019 and average muck grade was 46.1 g/t.

“Additionally, the drilling of the 300 East Zone confirms the continuity of the mineralization at depth, thus suggesting that many other similar zones, such as 808, 811, 818, 711 and 7 East, have this same potential to continue at depth.

“Elsewhere at Eagle River, the Company is following up on multiple encouraging drill intersections last year both west of and along strike of, and subparallel to the Falcon 7 zone, including the western extension of the 311 West and 5 zones in the volcanic rocks. Any resources discovered in this area could meaningfully enhance the future operational flexibility of the asset.

“Meanwhile, we remain focused in 2023 on converting a large, inferred base into indicated and measured resources and subsequently reserves.”

.

To read the full news release, please click HERE

.

=======

.

If you need clarification of any information contained in this note, or have any questions, I will be delighted to assist – Please email andrew@city-investors-circle.com

=======

.

City Investors Circle is based in the financial district in the City of London

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

.

Disclosure

At the time of writing the author holds no shares in Wesdome Gold Mines

.

.

To read our full terms and conditions, please click HERE



Wesdome Gold CEO Falls on His Sword

Wesdome Gold (TSX: WDO)

CEO Duncan Middlemiss would appear to have fallen on his sword after submitting his resignation yesterday after a year of poor performance and missed guidance for Wesdome Gold Mines.

The market has reacted to the recent problems at the company and the CEO has resigned. Normally this is likely to be seen as a positive, but in this case it has unnerved investors. 

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Wesdome Gold mine location map

Wesdome Gold Mines- Location map

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Wesdome Gold TSX : WDO
Stage Production, Development
Metals Gold
Market cap C$891 m   @ C$6.26
Location Ontario and Quebec, Canada

 

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Wesdome Gold Mines CEO Middlemiss Falls on His Sword 

 

Wesdome Gold Mines (TSX: WDO) CEO Duncan Middlemiss would appear to have fallen on his sword after submitting his resignation yesterday, after a year of poor performance and missed guidance by the company.

After a successful 6 year tenure the last year or so has been challenging for WDO, and with the share price falling by over C$10 from its peak, it seems that Middlemiss has paid the price.

The market has reacted negatively to the recent problems at the company, but the CEO’s resignation was very sudden, and unexpected.

Normally this might have been seen as a positive, as a new CEO brings in fresh ideas, and solutions, but in this case it has unnerved investors.

Duncan Middlemiss has really created significant shareholder value at Wesdome, and it looked set to grow into a mid tier producer, but it all started to unravel, and the share price has fallen from around C$16.50 at its peak to just over C$6 today.

 

What issues caused this?

Two different problems really, supply chain issues delayed the Kiena project near Val-d’Or, Quebec, by up to a year,  whilst lower than expected grades at their Eagle River mine in northern Ontario reduced output.

Wesdome reported gold production of 110,850 oz. last year, after stating just last October it was aiming for around 120,000 oz. production, which in itself was the the lower end of its previous guidance.

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Who is the interim CEO?

Warwick Morley-Jepson joined the Wesdome board in 2017, having previously served as executive vice-president and chief operating officer of Ivanhoe Mines (TSX: IVN) and Kinross Gold (TSX: K; NYSE: KGC).

Wesdome described him as a “seasoned operator with significant experience.”

 

 

 

Laurentian Bank Mining Analyst Barry Allan wrote;

“The unexpected resignation is causing anxiety among investors because Morley-Jepson is little known, and the miner needs stable management to see through its strategy.

 

“The sudden resignation of the president and CEO is too much like falling on his sword at time when Wesdome needs good leadership more than ever,”  in a note late Tuesday. “His departure was premature and occurs at an extremely unfortunate time.”

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To read the full news release, please click HERE

/

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Wesdome Gold Mines

Wesdome Gold Mines Kiena Mine, Quebec

.

.

=======

.If you need clarification of any information contained in this note, or have any questions, I will be delighted to assist – Please email andrew@city-investors-circle.com

=======

.

City Investors Circle is based in the financial district in the City of London

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

.

Disclosure

At the time of writing the author holds no shares in Wesdome Gold Mines.

.

.

To read our full terms and conditions, please click HERE



Wesdome Gold Declares Commercial Production at Kiena

Wesdome Gold Mines (TSX: WDO)

Announced that commercial production has been achieved at the Company’s Kiena mine in Val d’Or, Quebec effective December 1st, 2022.

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.

.

Wesdome Gold mine location map

Wesdome Gold – mine location map

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.

Wesdome Gold TSX : WDO
Stage Production, Development
Metals Gold
Market cap C$1.16 B   @ C$8.13
Location Ontario and Quebec, Canada

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Wesdome Declares Commercial Production at the Kiena Mine

01/12/2022

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TORONTO, Dec. 01, 2022 (GLOBE NEWSWIRE) — Wesdome Gold Mines Ltd. (TSX: WDO) (“Wesdome” or the “Company”) today announces that commercial production has been achieved at the Company’s Kiena mine in Val d’Or, Quebec effective December 1st, 2022.

The commissioning of the paste fill plant has progressed well in November, with an underground test pour successfully completed on November 17th. Demonstrating the viability of the paste fill plant was the final element for Kiena to meet its commercial production criteria.

Paste fill has always been identified as a critical component to the successful mining of Kiena Deep. Now that it is available to the operation, it will help reduce stope stand-up time, minimize the risk of instability, better control dilution, and allow for a more rapid overall mining sequencing.

Additionally, it will allow for re-allocation of resources (both equipment and people) that were engaged in the cemented rockfill operations. Those resources will now be available to address the meaningful development deficit accrued to date.

As expected, Wesdome has also received notice from its syndicate of credit providers of a $70 million increase to the Company’s existing $80 million-dollar revolving credit facility, for a total of $150 million.

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Mr. Duncan Middlemiss, President and CEO commented;

“Kiena is our second operating mine in Canada, significantly de-risking our status as a single mine operator and adding another source of revenue for the Company.

“Although capital spending at Kiena is expected to decline next year, due to development delays we now expect to have the development in place to access the bulk of the high-grade Kiena Deep A Zone in 2024, which will allow us to achieve positive free cash flow and an annual production run rate consistent with the 2021 Kiena Mine Complex Pre-Feasibility study (see press release dated May 26, 2021).

“The Company will release its 2023 production and cost guidance, which reflects this progressive ramp up of tonnes and grade in January.

“We continue to be very pleased with the exploration potential at Kiena, in particular the recent discoveries in the Footwall, Hanging wall, and South Limb zones. These zones have the potential to increase the number of ounces per vertical metre and to provide additional working faces during mining.

“Longer term, the Presqu’Ile discovery is shallower than the Kiena Deep A Zone, potentially accessible by ramp as another source of feed for the mill, which has a 2,000 tonnes per day capacity, currently operated at 1,000 to 1,200 tonnes per day only four days a week.”

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.To read the full news release, please click HERE

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Since 2017, the Company has invested approximately $250 million into Kiena, including exploration, development, studies, and infrastructure, primarily financed from free cash flow generated from the Eagle River mine.

.

=======

If you need clarification of any information contained in this note, or have any questions, I will be delighted to assist – Please email andrew@city-investors-circle.com

=======

.

City Investors Circle is based in the financial district in the City of London

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

.

Disclosure

At the time of writing the author did not hold Wesdome Gold shares.

.

To read our full terms and conditions, please click HERE



Wesdome Announces Q3 Financial Results

Wesdome Gold Mines (TSX: WDO)

Announced its third quarter financial results.

The company recorded a loss for the quarter, and AISC were US$1,698, although these will reduce once full production resumes. Guidance is now at the low end of expectations for 2022. 

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Wesdome Gold Mines - Eagle River underground mine

Wesdome Gold Mines – Eagle River underground mine

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.

.

Wesdome Gold TSX : WDO
Stage Production, Development
Metals Gold
Market cap C$1.35 B   @ C$9.5
Location Ontario and Quebec, Canada

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Wesdome Announces 2022 Third Quarter Financial Results

09/11/2022

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TORONTO, Nov. 09, 2022 (GLOBE NEWSWIRE) — Wesdome Gold Mines Ltd. (TSX: WDO) (“Wesdome” or the “Company”) today announces its third quarter financial results.

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Key operating and financial highlights of the Q3 2022 results include:

  • Gold production of 22,883 ounces, including 5,208 Kiena pre-commercial ounces, is a 22% decrease over the same period of the previous year (Q3 2021: 29,344 ounces):
    • Eagle River Underground milled 52,247 tonnes at a head grade of 10.7 grams per tonne for 17,405 ounces produced, a 26% decrease over the same period in the previous year (Q3 2021: 23,621 ounces).
    • Mishi Open Pit milled 3,595 tonnes at a head grade of 2.8 grams per tonne for 270 ounces produced (Q3 2021: 212 ounces).
    • Kiena milled 16,112 tonnes at a head grade of 10.2 grams per tonne for 5,208 pre-commercial ounces produced.
  • Revenue of $61.8 million, an 8% decrease over the same period of the previous year (Q3 2021: $67.5 million).
  • Ounces sold were 27,500 at an average sales price of $2,246/oz (Q3 2021: 30,000 ounces at an average price of $2,249/oz).
  • Cash margin1of $17.0 million, a 52% decrease over the same period of the previous year (Q3 2021: $35.3 million).
  • Operating cash flows decreased by 62% to $12.9 million or $0.09 per share1as compared to $33.9 million or $0.24 per share for the same period in 2021.
  • Free cash outflow of $23.2 million, net of an investment of $22.8 million in Kiena, or ($0.16) per share1(Q3 2021: free cash outflow of $9.1 million or ($0.06) per share1).
  • Net loss of $3.9 million or ($0.03) per share (Q3 2021: Net income – $14.5 million or $0.10 per share) and Net loss (adjusted)1of $3.9 million or ($0.03) per share (Q3 2021: $17.4 million or $0.12 per share)
  • Cash position at the end of the quarter of $24.7 million.
  • Cash costs1of $1,628/oz or US$1,247/oz, an 52% increase over the same period in 2021 (Q3 2021: $1,072/oz or US$851/oz);
  • AISC1increased by 48% to $2,217/oz or US$1,698/oz over the same period in 2021(Q3 2021: $1,495 or US$1,186 per ounce).
    1. Refer to the Company’s 2021 Annual Management Discussion and Analysis section entitled “Non-IFRS Performance Measures” for the reconciliation of these non-IFRS measurements to the consolidated financial statements.

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Duncan Middlemiss, President and CEO commented;

“During Q3, we are pleased to have made significant advancements on the build out at Kiena, such as completing the hoist refurbishment project during the July shut down. As well, the remaining key electrical components for the paste plant were delivered and installed, and have been successfully powered.

“Post quarter end, construction is being finalized, and pre-commissioning activities have started. We expect the plant to be fully operational in Q4. Once this is achieved, the Company can declare commercial production at the Kiena mine.

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“At Eagle, initial mining of the Falcon zone in the volcanic host rock resulted in one stope returning lower grades than forecast. However, ongoing development and drilling throughout the year has continued to better define the higher-grade shoots within the Falcon Zone and improved our confidence in forecasting production going forward. Additionally, recent surface and underground drilling, from the 355 m-level exploration drift, has extended the up-plunge extent of the Falcon 7 zone to surface.

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“As the mill was on shut down in July for planned mill thickener refurbishment work, production was relatively in line with Q2 2022 with higher production planned for Q4.

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“Year to date, previously released combined production of 75,734 ounces positions the Company is currently tracking to produce near the low end of its 120,000 – 140,000 ounce revised guidance range and the higher end of our cost guidance range, which relies on significant production late in the fourth quarter.

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“Costs have been higher than previously guided at the start of the year due to a number of factors, primarily lower grade at Eagle River as a result of grade underperformance in the Falcon Zone, supply chain delays resulting in less ounces produced than budgeted at Kiena, and inflationary pressures.

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“The ground conditions in Kiena Deep, specific to the schist and komatiite in the footwall of the A Zone remain challenging, and the equipment delays encountered earlier in the year (now received with the exception of some bolting equipment), have resulted in the development and mining rates being slower to ramp up than originally anticipated.

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“Ramp up activities at Kiena will continue during 2023 as the development deficit incurred is being addressed. With learnings from mining the new Falcon Zone at Eagle in 2022, and as we integrate Kiena, 2023 is expected to be a consolidation year with financial improvement expected as growth capital at Kiena tapers off, and production increases throughout the year.”

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.For brevity, this summary has been redacted, to read the full news release, please click HERE

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.If you need clarification of any information contained in this note, or have any questions, I will be delighted to assist – Please email andrew@city-investors-circle.com

=======

.

City Investors Circle is based in the financial district in the City of London

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

.

Disclosure

At the time of writing the author holds no shares in Wesdome Gold Mines.

.

.

To read our full terms and conditions, please click HERE



Mining Review 23rd October 2022

Mining Review 23rd October 2022

A better week for gold and silver, and their associated ETFs, but industrial metals were mostly static. Lithium reached a new all time high in China.

Ascot Resources, Cyprium Metals, Eloro Resources, Nouveau Monde, Radisson Mining and Wesdome all reported news this week. 

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Eloro Resources

Eloro Resources – Iska Iska project view

 

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Mining Review 23rd October 2022

A better week for gold and silver, and their associated ETFs, which rose strongly. Gold rose slightly as the market started to believe the FED may slow down future rate hikes.

Silver was up more than 6%, as some market commentators are highlighting lower stocks at the Comex and LME as industrial demand increases, notably for solar panels.

Industrial metals were mostly static, and in the energy sector, the price of Lithium carbonate reached a new all time high in China, $74,600.

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Mining news this week

The government of Namibia announced they would sell all their rare earth elements to the EU in an exclusivity deal. The EU have agreed all the processing would be carried out in Namibia, thus beneficiating the product at source.

This is a good result for Namibian employment and taxes, and maybe the first of many such exclusivity deals as countries try to lock in supply contracts for critical commodities.

In Peru, the large Las Bambas copper mine is blockaded, again!

 

Companies on our watchlist that made news this week;

Ascot Resources, Cyprium Metals, Eloro Resources, Nouveau Monde, Radisson Mining and Wesdome Gold Mines all reported news this week.

We initiated coverage of I-80 Gold (TSX: IAU), a company formed by ex Premier Gold management after their takeover by Equinox Gold. Click the link below for my reasoning.

Nimy Resources (ASX: NIM) was added to the early stage grass roots exploration watchlist after revealing promising nickel drill results at their project located in the Yilgarn Craton region of Western Australia.

  Radisson Mining Reported high-grade Gold Intercepts at O’Brien

  Nouveau Monde Graphite Signed an Offtake Deal

  Cyprium Metals Nifty Copper Mine Development Update

  Eloro Resources Hit Multiple Intersections at Iska Iska

  Initiating coverage of I-80 Gold Corp.

  Ascot Resources Reported Positive Grade Reconciliation

  Wesdome Gold Q3 Results Disappoint the market, the stock fell

 Mining Review 16th October 2022

Read more: http://www.city-investors-circle.com/archives/#ixzz7iRnpbY8U

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Market Data

Week on week price movements

(US$ unless stated)

 

Metal prices

Gold price in UK £ 1466 -0.27%
Gold 1656 +0.91%
Silver 19.33 +6.09%
Palladium 1938 -3.10%
Platinum 932 +2.87%
Rhodium 14090 +1.44%
Copper 3.44 -1.15%
Nickel 9.9 -0.40%
Zinc 1.34 0.00%
Tin 8.63 -5.48%
Cobalt 23.25 0.00%
Manganese 3.125 +0.16%
Lithium 74600 +2.17%
Uranium 52.65 +4.88%
Iron Ore 91.4 -0.44%
Coking Coal 307 +4.78%
Thermal coal 395 -0.25%
Magnesium 3630 -0.74%
Lumber 535 +8.74%

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Metal ETFs

GDX 24.34 7.13%
GDXJ 29.85 7.57%
Sil 24.9 5.96%
SILJ 9.45 6.18%
GOEX  (PCX) 20.68 6.11%
GLD 154.15 0.76%
COPX 29.22 4.21%

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Miscellaneous data

Au / Ag Ratio 88.99 0.92%
10 yr T bond (TNX) 4.21 4.73%
2 yr T bond 4.504 0.76%
US  index (DXY) 111.89 -1.21%
HUI 196.14 6.84%

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.

=======

.If you need clarification of any information contained in this note, or have any questions, I will be delighted to assist – Please email andrew@city-investors-circle.com

=======

.

City Investors Circle is based in the financial district in the City of London

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

.

Disclosure

At the time of writing the author holds shares in Ascot Resources, Cyprium Metals, and Eloro Resources,  all bought in the market at the prevailing price on the days of purchase. 

.

.

To read our full terms and conditions, please click HERE



Wesdome Announces Q2 2022 Production Results

Wesdome Gold Mines Ltd. (TSX: WDO)

Announced second quarter 2022 production results.

“one time operational issued” effected production this quarter.  […] 

 

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Wesdome Gold TSX : WDO
Stage Production, Development
Metals Gold
Market cap C$1.55 B   @ C$10.88
Location Ontario and Quebec, Canada

 

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Wesdome Gold mine location map

Wesdome Gold – mine location map

 

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Wesdome Announces 2022 Second Quarter Production Results

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TORONTO, July 14, 2022 (GLOBE NEWSWIRE) — Wesdome Gold Mines Ltd. (TSX: WDO) (“Wesdome” or the “Company”) today announces second quarter (“Q2”) 2022 production results. All figures are in Canadian dollars unless otherwise stated.

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Wesdome Gold Mines management comments

“During Q2, there were a number of one-time operational issues that impacted production at both sites.

“At Eagle River, production was lower than budget due to a manufacturing defect on a new hoist rope, resulting in two weeks of lower productivity as ore was trucked to surface and a second new rope was sourced.

“Additionally, one of the leach tanks at the mill, which was previously scheduled to be replaced later this year, failed in mid-June, impacting nearly one week of mill production.

“Once both issues were resolved we were able to mine and process the significantly higher-grade ore planned for June, however gold sales were lower as processing and refinement of this ore slipped into Q3.

“At Kiena, the global supply chain challenges which delayed delivery of the underground equipment in Q1, have also delayed delivery of key electrical components for the completion of the paste backfill plant. Consequently, the mining rate has been slower to ramp up which now puts us approximately 3-4 months behind our original 2022 plan.

“While we previously indicated production in 2022 was expected to be heavily weighted to the second half of the year, the Company is currently re-evaluating its 2022 production guidance and we will be in a position to release our expectations for the remainder of the year with our Q2 Financials on August 10.”

Duncan Middlemiss, President and CEO Wesdome Gold Mines

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To read the full news release, please click HERE

.

=======

.If you need clarification of any information contained in this note, or have any questions, I will be delighted to assist – Please email andrew@city-investors-circle.com

=======

.

City Investors Circle is based in the financial district in the City of London

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

.

Disclosure

At the time of writing the author does not hold shares in Wesdome Gold.

.

.

To read our full terms and conditions, please click HERE



Mining Review Sunday Update 5th June 2022

Mining Review Sunday Update 5th June 2022

Companies in the news this week included Cornish Metals, Impact Minerals, Karora Resources, and Wesdome.

Gold was hit by a rising US dollar although the rise might be over now. 

 

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Lakewood Gold Mill

Lakewood Gold Mill – Karora Resources, Western Australia

 

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Mining Review Sunday Update 5th June 2022

Companies in the news this week included Cornish Metals, Impact Minerals, Karora Resources, and Wesdome.

Gold was hit by a rising US dollar although the rise might be over now.

This is a short update this week due to being busy.  I will add the commodity price data in a few days.

 

Companies we follow in the news this week;

  Wesdome Gold Mines Expands Folded Kiena Deep A Zone

  Global Mining Finance Conference in London

  Cornish Metals Issues Shares for Cornwall Assets

  Impact Minerals Talk Impresses London Investors

  Karora Resources Acquired The Lakewood Gold Mill

  Market Review 31st May 2022 Published

 

.

=======

.If you need clarification of any information contained in this note, or have any questions, I will be delighted to assist – Please email andrew@city-investors-circle.com

=======

.

City Investors Circle is based in the financial district in the City of London

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

Disclosure

At the time of writing the authorholds shares in Karora Resources bought in the market at the prevailing price on the day of purchase.

.

.

To read our full terms and conditions, please click HERE