Wesdome Gld Mine Stock Price, News & Analysis

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.

Wesdome Gold Mines Ltd. reported strong financial results for Q4 2021 and the full year, highlighting record production of 123,843 ounces of gold, a 37% increase from 2020. Q4 cash flow surged by 274% to $48.2 million, with net income reaching $24.8 million or $0.18 per share. The company's cash costs decreased by 6% to $990 per ounce, although AISC rose to $1,408 per ounce. The Kiena Mine is ramping up production, contributing 22,440 pre-commercial ounces. 2022 guidance targets production of 160,000-180,000 ounces at reduced cash costs of $875-970 per ounce.

Wesdome Gold Mines Ltd. reports promising underground exploration results from the Kiena Deep A Zone at its Kiena Mine Complex in Quebec. High-grade drilling results confirm the continuity of mineralization along the basalt-ultramafic contact and the extension of the Footwall Zone. The drilling indicates gold grades of up to 74.6 g/t and plans for aggressive exploration in 2022 with a budget of $17.7 million. The company anticipates total production of 64,000 to 75,000 ounces for the year, with higher output expected in H2 2022, potentially enhancing project economics.