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. (WDOFF) generates frequent news related to underground gold mining operations, exploration results, and corporate developments. As a Canadian-focused gold producer with the Eagle River mine in Northern Ontario and the Kiena Mine Complex in Val-d’Or, Québec, the company regularly issues detailed updates on production performance and drilling campaigns.
Investors following Wesdome’s news can expect recurring disclosures on quarterly operating and financial results, including gold production volumes, cost metrics, and cash flow. The company’s releases also discuss safety performance indicators and liquidity, along with commentary from management on operational trends at Eagle River and Kiena.
A significant portion of Wesdome’s news flow centers on exploration. The company publishes technical updates on underground and surface drilling at zones such as 6 Central, 300 and 300 Fold, Falcon 311, 720 Falcon, Dubuisson, Northwest, 134, and the Wesdome Zone. These releases often include assay highlights, geological interpretations, and descriptions of regional targets like Mishi, Magnacon, Dorset, Cameron Lake Iron Formation, Eagle River Splay-North Diorite, Feather River, and Abbey Lake.
Corporate and governance announcements are another recurring theme. Wesdome reports board and executive appointments, including changes to the Chief Financial Officer role and additions of independent directors and audit committee chairs. It also communicates decisions on capital allocation, such as the initiation of a normal course issuer bid to repurchase shares, and the status of its revolving credit facility.
By tracking WDOFF news, readers gain insight into Wesdome’s mine performance, exploration progress across its Canadian land package, and key financial and governance decisions that shape the company’s development over time.
Wesdome Gold Mines (WDOFF) reported strong Q1 2025 production results, with total gold production reaching 45,692 ounces, a 37% increase from Q1 2024. The company sold 45,300 ounces, up 27% year-over-year.
Eagle River mine produced 28,999 ounces (+16% YoY) with a head grade of 15.6 g/t, while Kiena mine nearly doubled its production to 16,693 ounces with an improved head grade of 10.8 g/t (+83% YoY). The company remains on track to meet full-year guidance, with Eagle River expected to produce 100,000-110,000 ounces in 2025.
Management notes Q4 2025 is projected to account for approximately 30% of annual production, with first-half all-in sustaining costs expected to be 15% above full-year guidance due to timing of production and capital expenditures.
Wesdome Gold Mines (WDOFF) has announced a definitive agreement to acquire Angus Gold in a cash-and-stock transaction. Under the terms, Angus shareholders will receive $0.62 cash plus 0.0096 Wesdome shares per Angus share, valuing each Angus share at $0.77 - a 59% premium to Angus's 20-day volume-weighted average price.
The transaction, valued at approximately $40 million net of Angus's cash, will quadruple Wesdome's Eagle River land position to create a ~400 km² contiguous strategic land package. The acquisition consolidates district-scale exploration potential across three mineralized trends, including the Eagle River Splay and Cameron Lake banded iron formation, with recent notable gold intercepts.
Wesdome currently owns 10.4% of Angus's basic common shares and 14.9% on a partially diluted basis. The deal has received support from shareholders holding 47% of Angus shares and is expected to close in Q2 2025, subject to customary approvals.
Wesdome Gold Mines (WDOFF) reported strong Q4 and full-year 2024 financial results, marking significant operational milestones. The company achieved record annual gold production of 172,033 ounces (up 39% YoY), with Q4 production at 49,567 ounces (up 37% YoY).
Financial highlights include record annual revenue of $558.2M (68% increase), Q4 revenue of $182.6M, and net income of $135.7M ($0.91 per share). The company generated strong free cash flow of $118.6M and ended the year debt-free with $123.1M in cash.
Key operational achievements:
- Eagle River produced 94,561 ounces in 2024, exceeding guidance
- Kiena produced 77,472 ounces, a 118% increase over 2023
- Total proven and probable gold reserves increased 5% to 1.2M ounces
- Measured and indicated resources grew by 18%
Wesdome Gold Mines (TSX:WDO, OTCQX:WDOFF) announced that Edward C. Dowling, Jr. will stand for election to the company's board of directors in spring 2025, with plans to appoint him as Board Chair following his election.
Dowling brings over 30 years of mining industry experience and currently serves as President and CEO of Compass Minerals Company. His track record includes successful leadership roles at Alacer Gold Company (2008-2012), where he oversaw the Çöpler Gold Mine development, and Meridian Gold (2006-2007). He has held board positions at several mining companies including Teck Resources, Copper Mountain Mining, and SSR Mining.
With a background in mining and mineral processing engineering, Dowling holds degrees from The Pennsylvania State University and completed Harvard Business School's Advanced Management Program. His appointment aims to strengthen Wesdome's strategic direction and shareholder value through operational excellence and responsible growth.
Wesdome Gold Mines has reported significant exploration results from its Eagle River Mine near Wawa, Ontario, following over 105,000 metres of surface and underground drilling in 2024. The company highlighted several key achievements:
At the 6 Central Zone, drilling extended the resource envelope down-plunge by 70% (250 metres) and identified a parallel zone with high-grade potential. The 300 Zone, currently the mine's primary reserve source, showed continued high-grade mineralization and successful down-plunge extension.
Notable intercepts include 180.0 g/t Au over 2.4m at 6 Central Zone and 36.4 g/t Au over 4.0m at 300 Zone. A new IP survey identified multiple anomalies west of the diorite, indicating additional mineralization potential.
For 2025, Wesdome has allocated $13 million for a 115,000-metre drilling program, including geophysical surveys and structural mapping. The company also plans to advance its global resource model initiative to unlock near-surface mineralization through historic data digitization and alternative mining methods.
Wesdome Gold Mines achieved record annual gold production of 172,034 ounces in 2024, a 39% increase from 2023. The company provided guidance for 2025, projecting consolidated gold production between 190,000 and 210,000 ounces at an all-in sustaining cost of US$1,325-$1,475 per ounce.
For 2026, Wesdome anticipates production to reach 195,000 to 220,000 ounces. The company plans significant capital investments in 2025, with a total budget of $160 million, including $115 million in sustaining capital and $45 million in growth capital. A record $38 million exploration program is planned to focus on growing existing high-grade zones.
Production improvements are expected from both the Eagle River and Kiena mines, with Kiena benefiting from the high-grade Kiena Deep Zone and new ore from Presqu'île zone in late 2025.
Wesdome Gold Mines provides an update on its Kiena Mine exploration programs, highlighting significant drilling results across multiple zones. The company's $20 million exploration budget covered over 70,000 metres of drilling in 2024. Notable results include high-grade intersections in the Kiena Deep Footwall Zone, with up to 218.9 g/t Au over 22.1m core length, and promising findings in the Presqu'île and Dubuisson zones. The exploration success supports the company's two-mine structure initiative, combining high-grade production from Kiena Deep with near-surface feed from other zones.
Wesdome Gold Mines reported strong Q3 2024 results with consolidated gold production of 45,109 ounces, a 62% increase over Q3 2023. Net income rose to $39.0 million ($0.26 per share), up $42.2 million from Q3 2023. The company's cash position nearly doubled to $82.5 million with available liquidity of $232.5 million.
Key financial metrics include EBITDA of $84.6 million, cash costs of $1,214 per ounce, and AISC of $1,920 per ounce. The average realized gold price was $3,420 per ounce. The company has narrowed its 2024 production guidance to 166,000-176,000 ounces while increasing cost guidance to $1,225-$1,300 per ounce for cash costs and $1,975-$2,100 for AISC.
Wesdome Gold Mines reported strong Q3 2024 results with consolidated gold production of 45,109 ounces, a 62% increase over Q3 2023. Net income rose to $39.0 million ($0.26 per share), up $42.2 million from Q3 2023. Key financial highlights include EBITDA increase to $84.6 million, operating cash flow of $61.0 million, and free cash flow of $30.8 million.
The company's cash position doubled to $82.5 million since year-end, with total available liquidity of $232.5 million. Production guidance for 2024 was narrowed to 166,000-176,000 ounces, with increased cost guidance of $1,225-$1,300 for cash costs and $1,975-$2,100 for AISC per ounce sold.
Wesdome Gold Mines (TSX:WDO, OTCQX:WDOFF) has appointed Philip C. Yee as an Independent Director and Audit Committee Chair, effective October 7, 2024. This appointment expands the Wesdome Board to seven members, including six independent directors.
Mr. Yee is a Chartered Professional Accountant (CPA, CA) with extensive experience in the gold mining industry. He previously served as Executive Vice President and Chief Financial Officer at Eldorado Gold , managing financial operations, investor relations, IT, and risk strategy. His career includes key roles at major gold companies such as Kirkland Lake Gold Inc and Lake Shore Gold Corp.
Bill Washington, Interim Board Chair of Wesdome, expressed confidence in Mr. Yee's ability to contribute to the company's strategic growth plan and create shareholder value, citing his results-driven leadership, strategic insight, and financial expertise.
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