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 (TSX: WDO; OTCQX: WDOFF) filed a notice seeking TSX approval for a Normal Course Issuer Bid (NCIB) to repurchase up to 2% of its public float over 12 months. Wesdome had 150,969,214 shares outstanding as of October 16, 2025 and currently intends to acquire up to 3,013,315 shares for cancellation if approved.
Purchases would follow TSX rules with a daily maximum of 182,093 shares (25% of six-month ADV of 728,373) and may include one weekly block purchase exceeding that limit. The company says it has no debt and will fund repurchases from cash on hand and operating cash flow while prioritizing organic growth.
Wesdome Gold Mines (OTCQX: WDOFF) has appointed Philip C. Yee as its new Chief Financial Officer, effective September 29, 2025. Yee, a Chartered Professional Accountant with extensive mining industry experience, joins from Eldorado Gold Corporation where he served as Executive VP and CFO from 2018 to 2024.
Yee brings significant expertise from previous CFO roles at major gold companies including Kirkland Lake Gold and Lake Shore Gold Corp. He will transition from his current position as Wesdome's audit committee chair, which he has held since October 2024. Raj Gill, who has been serving as Interim CFO, will return to his role as Senior VP of Corporate Development and Investor Relations.
Wesdome Gold Mines (OTCQX:WDOFF) has announced significant exploration results at its Eagle River mine near Wawa, Ontario. The company reported a major extension of the 6 Central Zone by 300 meters, featuring high-grade intercepts including 115.9 g/t gold over 1.6 meters.
Key developments include successful drilling at multiple zones: the 300 and 300 Fold Zones were reinterpreted as separate structures, the Falcon 311 Zone showed promising infill drilling results, and surface drilling at Falcon 720 returned visible gold. The company has completed 80,000 meters of conversion drilling since January and identified 176 exploration targets beyond current resources.
The exploration program encompasses both underground and surface targets, with a focus on the global model initiative and an upcoming technical report in 2026. The company is executing a comprehensive three-year exploration strategy across its 400 km² land package.
Wesdome Gold Mines (OTCQX:WDOFF) reported strong Q2 2025 financial results, with record quarterly net income of $82.7 million ($0.55 per share), nearly triple Q2 2024 levels. Gold production reached 42,781 ounces, with consolidated cost of sales at US$932 per ounce and AISC of US$1,528 per ounce.
The company achieved record quarterly EBITDA of $138.4 million and free cash flow of $52.9 million. Liquidity strengthened to $530.0 million, including $187.6 million in cash. The company successfully upsized its credit facility to US$250 million, extended to June 2028, with an accordion feature allowing up to US$300 million.
Eagle River operations showed strong performance with 25,612 ounces produced in Q2, a significant increase from 19,272 ounces in Q2 2024, driven by a 44% increase in average grade. The company has updated its full-year outlook, raising Eagle River's production guidance while lowering cost expectations.
Wesdome Gold Mines (OTCQX: WDOFF) has reported its Q2 2025 production results, showing mixed performance across its operations. Total gold production reached 42,781 ounces in Q2 2025, a slight decrease of 3% year-over-year, while YTD production increased by 14% to 88,473 ounces.
The Eagle River mine demonstrated strong performance with a 33% increase in quarterly gold production to 25,612 ounces, driven by a 44% improvement in average grade. Conversely, Kiena's production declined by 31% to 17,169 ounces due to equipment availability issues. The company remains on track to meet its full-year guidance, with Eagle River trending toward the high end and Kiena at the lower end.
Notable strategic developments include the completion of the Angus Gold acquisition and an upsized credit facility to US$300 million with an additional US$50 million accordion feature.
Wesdome Gold Mines (OTCQX: WDOFF) has successfully completed the acquisition of Angus Gold through a plan of arrangement, making Angus a wholly-owned subsidiary. Under the deal terms, former Angus shareholders received $0.62 in cash plus 0.0096 Wesdome shares for each Angus share held.
The strategic acquisition includes the Angus property adjacent to Wesdome's Eagle River Mine, representing a significant regional land package consolidation. The company aims to enhance its long-term growth potential through greenfield opportunities, with key Angus team members joining Wesdome to drive shareholder value.
Wesdome Gold Mines (OTCQX:WDOFF) has reported exceptional results from its underground exploration activities at the Kiena mine in Val-d'Or, Québec. The company has completed 21,000 metres of exploration drilling in 2025, with drilling in Kiena Deep and the Kiena Deep Footwall Zone delivering remarkable high-grade results, including 2,349.9 g/t Au over 2.9 metres.
New underground drill platforms have significantly improved drilling access and angles, supporting resource growth alongside higher production levels. The drilling program has confirmed geological models and identified potential expansion opportunities in multiple areas, including the B Zone and Wish Area, which could provide future incremental ore sources near existing infrastructure.
The company plans to expand its exploration efforts with an upcoming summer barge drilling program targeting the Duchesne and Northwest zones, along with surface drilling at Presqu'île and underground drilling at Dubuisson.
Wesdome Gold Mines (WDOFF) held its 2025 annual general meeting with 63.99% of total shares represented. Shareholders approved all proposed matters, including the election of eight directors, appointment of Ernst & Young LLP as auditor, and an advisory vote on executive compensation. Notable director election results included Philip Yee with 99.91% approval, Anthea Bath with 99.82%, and Louise Grondin with 99.42%. The auditor appointment received 98.59% approval, while the executive compensation approach was endorsed with 96.88% support.