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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 WinstonSmithon Nov 16, 2017 11:27am
209 Views
Post# 26976685

Couple of things from quarterly report

Couple of things from quarterly reportThe reason for the sudden change in management personelle is now apparent..
Those champions of Moss Lake have been replaced with others who are more capable of developing Eagle and Kienna.... the company has changed its focus to those two projects based on exploration results.

The stock price has suffered due to decreased production  in the interm. Going forward we should get a boost on continuing positive drilling results and better head grades.

This would be a good time to spin off Moss Lake to a third party as we don't have the cash flow to advance it.

Since we are owned mostly by investment funds,  they have been taking profits over the last few months by selling into the higher prices . I don't know what the short interest in this stock is... but those sellers may be inclined to start covering their shorts before the next major press release.
Bullboard Posts