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Wesdome Gold Mines Ltd T.WDO

Alternate Symbol(s):  WDOFF

Wesdome Gold Mines Ltd. is a Canada-based gold producer with two high grade underground assets, the Eagle River mine in Ontario and Kiena mine in Quebec. The Company has an exploration program both underground and on the surface within the mine area and more regionally at both the Eagle River and Kiena Complex. The Eagle River Underground Mine is located approximately 50 kilometers west of Wawa, Ontario. The Eagle River Underground Mine in Wawa, Ontario is producing gold at a rate of 92,000-105,000 ounces per year. The Kiena Mine is located in the prospective Val d’Or, Quebec gold camp. The Kiena Complex is a fully permitted former mine with a 930-metre shaft and 2,000 tons-per-day mill. The Company also retains exposure to the Moss Lake gold deposit, located approximately 100 kilometers west of Thunder Bay, Ontario through its equity position in Goldshore Resources Inc.


TSX:WDO - Post by User

Bullboard Posts
Post by Singidunumon Apr 16, 2007 7:29pm
293 Views
Post# 12619209

This explains the drop.(Wesdome downgraded)

This explains the drop.(Wesdome downgraded)So, we should all go to sleep for at least 6 months. This won't see $2 for a while. Wesdome Gold Mines downgraded to "hold" Wednesday, April 11, 2007 2:13:37 PM ET Research Capital NEW YORK, April 11 (newratings.com) - Analyst Barry Allan of Research Capital downgrades Wesdome Gold Mines Ltd (ticker: RKVA) from "buy" to "hold." The 12-month target price has been reduced to C$1.60. In a research note published this morning, the analyst mentions that the company has reported gold production of 53.0 koz, and direct operating costs of approximately $523/oz for the full year. Wesdome Gold Mines has reduced its production guidance for 2007 to 70 koz, which represents half of its capacity, due to the potential negative impact of the underground development of a new ore zone at Eagle River on the 2H07 output, and of the ore grades and throughput at the Kiena mine on 1H07 results. The NPV estimate for 2007 has been reduced to reflect higher capital and operating costs, the analyst says. https://www.newratings.com/analyst_news/article_1509946.html
Bullboard Posts