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 (WDOFF) operates high-grade mining projects across Canada's most productive gold regions, including Eagle River and Kiena complexes. This news hub provides investors with essential updates on operational developments, strategic initiatives, and financial performance.
Access comprehensive coverage of press releases, production results, and exploration updates. Track key metrics including quarterly production figures, resource expansion efforts, and technical advancements in geological modeling. Our curated news selection helps stakeholders monitor operational efficiency and reserve validation processes.
Expect detailed reporting on drill results analysis, mill throughput rates, and mineral reserve updates. The collection includes earnings announcements, leadership updates, and operational guidance - all critical for assessing the company's position in the competitive gold mining sector.
Bookmark this page for streamlined access to Wesdome's latest technical reports and market communications. Regular updates ensure you maintain current awareness of this intermediate gold producer's activities in Canada's evolving mining landscape.
Wesdome Gold Mines has announced significant progress in its underground exploration at the Eagle River Mine in Ontario. Key highlights include:
6 Central Zone: Drilling has extended the high-grade zone by 150 meters to the east, with notable results such as 71.7g/t Au over 3.3m (capped at 58.2g/t Au over 2.8m true width).
Falcon 311 Zone: Exploration confirms high-grade continuity, with results like 33.0g/t Au over 5.0m (capped at 31.8g/t Au over 3.5m true width).
300 Zone: Infill and delineation drilling to confirm mineralization, with results such as 39.7g/t Au over 8.7m (capped at 32.5g/t Au over 6.6m true width).
The exploration budget for 2024 is nearly $10 million, focusing on expanding, infill, and delineation drilling. CEO Anthea Bath noted the potential for extending mine life and increasing mill utilization.
On June 18, 2024, Wesdome Gold Mines (TSX:WDO, OTCQX:WDOFF) held its 2024 annual general meeting of shareholders, with 98,978,379 common shares represented, marking a 66.19% turnout.
Key resolutions included the election of seven directors for the forthcoming year, the appointment of Grant Thornton LLP as auditors, and the approval of an advisory non-binding resolution on executive compensation. Bill Washington was named Interim Chair of the Board post-meeting.
Detailed vote breakdowns showed strong support across all resolutions, with directors receiving between 81.92% and 97.86% votes in favor, the auditor appointment receiving 96.07% in favor, and the executive compensation approach receiving 95.89% in favor. The meeting's results have been filed on SEDAR+.
Wesdome Gold Mines has appointed Kevin Lonergan as the Senior Vice President of Technical Services, effective May 21, 2024. Lonergan brings over 25 years of experience in mining, having previously held senior leadership roles at Ero Copper Corp., Vedanta Resources, and Anglo American plc. His expertise includes both underground and open pit mining operations.
Prior to this appointment, Lonergan provided technical leadership to Wesdome since July 2023. He holds a Bachelor of Engineering degree from Camborne School of Mines, University of Exeter, UK. This strategic appointment is expected to enhance Wesdome's mining and technical operations.
Wesdome Gold Mines reported strong Q1 2024 results with 33,322 ounces of gold production, net income of $10.7 million, and $46.5 million in operating cash flow. The company has $169.5 million in available liquidity, including $48.3 million in cash. President and CEO Anthea Bath highlighted the positive results and the focus on executing full-year guidance and strategic objectives.
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