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. has announced significant mineral discoveries at the Eagle River Mine in Ontario, including the new North Contact Zone and additional zones parallel to the Falcon 7 Zone. Recent drilling results show high gold grades, such as 12.19 g/t over 3.7 m and 9.26 g/t over 1.5 m, confirming the mine's potential for continued mineralization. The company highlights ongoing development works, particularly on the 355 m level, which may enhance resource growth. CEO Duncan Middlemiss expressed optimism about these new findings and the mine's future.
Wesdome Gold Mines reports Q3 2021 financial results, achieving gold production of 29,344 ounces, a 47% increase from last year. The company is positioned to meet its guidance of 92,000 to 105,000 ounces for 2021. Kiena's pre-commercial production reached 5,511 ounces, with further ramp-up expected. Revenue rose 23% to $67.5 million, with operating cash flows of $33.9 million. However, cash costs at Kiena are higher than expected at $1,844 per ounce. The company remains well-funded, with a cash balance of $69.5 million, supporting ongoing exploration and production activities.
Wesdome Gold Mines Ltd. (WDO) plans to release its third quarter 2021 financial results on November 10, 2021, with a conference call scheduled for November 11, 2021, at 10:00 am ET. The company is prioritizing health and safety measures amid COVID-19, with operations currently maintained but subject to risks that could impact future production. Wesdome is focused on becoming a leading gold producer in Canada, targeting over 200,000 ounces from its two mines in Ontario and Québec. The Eagle River mine is producing 92,000-105,000 ounces annually.
Wesdome Gold Mines announced its Q3 2021 gold production results, reporting 29,344 ounces for the quarter, a 47% increase compared to Q3 2020. The Eagle River mine produced 23,621 ounces, a 20% decrease from Q2 due to scheduled downtimes. The newly operational Kiena mine contributed 5,511 ounces. Year-to-date, the company has produced 82,284 ounces and aims for guidance of 92,000 – 105,000 ounces overall for 2021. Revenue from gold sales reached $67.5 million, up 23% year-over-year.
Wesdome Gold Mines Ltd. announced promising underground exploration results from the Kiena Deep Zone and initial surface exploration at its Kiena Mine Complex in Quebec. The Footwall Zone has shown high-grade gold potential, with notable drill intersections reaching up to 132.1 g/t Au over 7.4 m. The company is optimistic about expanding resources and improving production at Kiena, despite challenges with skilled drilling shortages. Results from surface drilling also indicate potential for new discoveries, which could enhance the mine's resource base.
Wesdome Gold Mines has completed initial sill development on the Falcon 7 Zone at its Eagle River Mine in Ontario, aiming for a Q4 production start. The Falcon 7 Zone, discovered in 2019, has shown high gold grades, with reserves comprised of 136,344 tonnes at 19.7 g/t Au, totaling 86,177 ounces. Notable sampling results include up to 265.6 g/t Au over 1.5 m on the 635 Level. The company plans to increase annual production to approximately 100,000 ounces, leveraging Falcon 7 for operational efficiency.
Wesdome Gold Mines Ltd. (TSX: WDO; OTCQX: WDOFF) is now trading on the OTCQX Best Market, upgrading from the Pink market, enhancing visibility and liquidity for U.S. investors. The DTC eligibility process is ongoing, allowing cost-effective clearing and faster settlement. CEO Duncan Middlemiss expressed optimism about expanding market access. Wesdome aims to produce over 200,000 ounces of gold annually from its mines in Ontario and Québec. The company emphasizes health protocols due to COVID-19, although future production may be impacted by ongoing conditions.