Wesdome Gold Mines Ltd T.WDO

Alternate Symbol(s): WDOFF

Metals & Mining Gold

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.

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Wesdome Gold Mines Ltd > When the Dust Settles

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Comment by Woodporteron Aug 07, 2023 6:08pm

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Post# 35576659

RE:When the Dust Settles

Here is Banits original post of March 9

GoldBandit wrote: For me, the fundamentals with Wesdome have not changed. Everything that sent this stock to 16 bucks a share is still in play. Bonanza grades, 100% operational Kiena mill, etc. The delay in timelines was a matter of circumstance. Supply chain issues caused by the plandemic affected everything. I personally witnessed supply chain issues in other industries that affected project delivery. Many bizarre predicaments businesses found themselves in and nothing they could do about it. Same with WDO, not having the equipment to do the job is going to hamper your progress.

I think WDO executive did an abysmal job in managing the delays, and keeping investors informed, though. As a result when the bad news breaks you have millions and millions of pizzed off shares.... waiting to get dumped for the tax loss. Then you have the market sharks shorting the stock to bust it even lower. Owning those millions of shares are pizzed off shareholders that don't have much to be happy about, many down a pile of cash and saying WTF? For me, this is the disaster. However, it is also the opportunity.

The last time I saw Wesdome get pummeled like this Tom Stanley and his Resolute Funds dumped their 20% position. It cratered the shared price, see the picture below. I made a small fortune on the rebound of that. I see the same thing here, right now. This is where very excellent returns are made. A stock price that has been beaten to a pulp but the fundamentals are still there.

What's the price? We're at a point where there will be some dilution. The good news is WDO doesn't have a huge amount of shares out and I don't think they will issue a lot of shares either. All the financing is in place. All the required equipment is being used right now.

It is less than 10 months to the high grade gold. At some point the negativity is going to change and the focus will be back to the stellar grades and the fact that WDO is closing in on mining it. When the dust settles WDO is not going to be at 6 bucks, not even close.