Welcome to our dedicated page for Wesdome Gld Mine news (Ticker: WDOFF), a resource for investors and traders seeking the latest updates and insights on Wesdome Gld Mine stock.
Wesdome Gold Mines Ltd. reports company developments tied to its Canadian gold mining operations, centered on the Eagle River mine in Northern Ontario and the Kiena mine in Val-d'Or, Québec. News commonly covers gold production, ore milling, grades, sales volumes, financial results, cost and operating performance, and updates on mine plans.
Company announcements also cover underground exploration drilling, resource expansion work, permitting at Kiena's Presqu'île Zone, and the brownfield and greenfield exploration pipeline that supports reserve replacement and mine-life planning. Other recurring topics include share repurchase activity under its normal course issuer bid and executive leadership changes.
Wesdome Gold Mines Ltd. reported Q2 2022 results revealing a 27,240-ounce gold production, a 10% decline year-over-year. Cash costs rose to $1,538/oz, a stark increase of 89% from Q2 2021. Revenue dipped 3% to $61.9 million, while AISC surged 63% to $2,020/oz. The company revised its 2022 guidance, lowering Eagle River's output to 85,000-95,000 ounces and Kiena to 34,000-43,000 ounces, due to operational challenges including supply chain issues and cost inflation.
Wesdome Gold Mines Ltd. (WDO) plans to announce its 2022 Q2 financial results on August 10, 2022, following market close. The financial statements and management analysis will be available on their website and SEDAR. A conference call to discuss these results is scheduled for August 11, 2022, at 10:00 am ET. In light of ongoing COVID-19 concerns, the company is implementing safety measures to protect employees as they continue operations, although they acknowledge risks impacting production timelines due to recent variant outbreaks.
Wesdome Gold Mines Ltd. (WDOFF) reported its Q2 2022 production results, highlighting operational challenges at both the Eagle River and Kiena mines. At Eagle River, a defect in a new hoist rope led to two weeks of reduced productivity, while a leach tank failure caused an additional week of halted production. The Kiena site faced delays in equipment delivery, pushing its ramp-up timeline 3-4 months behind. The company is reevaluating its 2022 production guidance, expecting to release updated information on August 10.
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Wesdome Gold Mines Ltd. has announced promising underground exploration drilling results at the Kiena Mine Complex in Quebec. Significant mineralization has been discovered, including a new interval located 100 meters below the current resource limit. Recent drill results include:
- 92.1 g/t Au over 50.7 m (Hole 6796W6)
- 18.7 g/t Au over 48.0 m (Hole 6796W4)
- 13.9 g/t Au over 83.2 m (Hole 6752W10)
The company plans to invest $17.7 million in exploration in 2022 to further enhance resource potential.
Wesdome Gold Mines Ltd. reported Q1 2022 financial results, showcasing a 36% increase in cash flow from operations and a 45% rise in revenue to $66.7 million. Production reached 25,611 ounces, a 13% increase, despite challenges from supply chain issues and the Omicron variant. Costs rose, with cash costs at $1,295/oz and all-in sustaining costs at $1,695/oz. Leadership changes include Frederic Mercier-Langevin as COO and Joanna Miller as VP, Sustainability and Environment. The company anticipates a return to positive free cash flow in the second half of the year as production ramps up.
Wesdome Gold Mines reports ongoing success in drilling the Falcon 7 Zone at its Eagle River Mine, revealing significant gold mineralization in volcanic rocks. Recent drilling results include high-grade assays of 90.2 g/t Au over 4.9 m and 87.1 g/t Au over 6.6 m, supporting the zone's potential as a valuable addition to the mine. The Falcon 7 Zone contains over 100,000 ounces of gold, with a mineral reserve grade exceeding 13 g/t Au. Ongoing exploration efforts are focused on expanding this resource further.
Wesdome Gold Mines Ltd. has filed a technical report for the Eagle River Gold Mining Complex, prepared by SRK Consulting. The report complies with National Instrument 43-101 and can be accessed on the company’s website and SEDAR. The company emphasizes the health and safety measures in place due to COVID-19, although it acknowledges potential impacts on production timelines from the Omicron variant. Wesdome aims to produce over 200,000 ounces of gold in 2022 across its Eagle River and Kiena operations.
Wesdome Gold Mines Ltd. (WDO) will release its Q1 2022 financial results post-market close on May 11, 2022. A conference call is scheduled for May 12, 2022, at 10:00 AM ET. The company prioritizes health and safety during the ongoing COVID-19 pandemic, implementing stringent protocols. However, recent COVID-19 outbreaks among employees may impact operational timelines. Wesdome aims to produce 160,000-180,000 ounces of gold in 2022 from its two mines in Ontario and Québec, with the Eagle River mine expected to yield 95,000-105,000 ounces and the Kiena mine projected for 64,000-73,000 ounces.
Wesdome Gold Mines Ltd. announced its first quarter 2022 production results, with combined output of 25,611 ounces, reflecting a 14% increase from Q1 2021. Despite challenges including unscheduled downtime at Kiena and staff absences due to COVID-19, the company expects improved performance in the second half of the year. Key metrics showed a total ore milled of 86,252 tonnes and revenue from gold sales of $66.6 million, marking a 45% increase year-over-year. The company aims for commercial production at Kiena by mid-year, moving towards its goal of being Canada’s next intermediate gold producer.