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Wesdome Gold Mines Ltd WDOFF


Primary Symbol: T.WDO

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

Comment by snowshoedbon Jan 11, 2023 10:34am
150 Views
Post# 35215676

RE:RE:RE:Next Communication = Q4 Production... then expect Crickets

RE:RE:RE:Next Communication = Q4 Production... then expect CricketsAt this point we don't really knoiw if they are processing more ore. I have an uncomfortable feeling that they are having trouble doing both development work and mining work.

It makes no sense that they had to increase the lending lines twice when the Kienna project was supposed to be funded out of cash flow from Eagle. Even the presentation says 

I know there would always be a funding requirement to fund the increased working capital beut that should only be about 50 million. Why did they need to raise 150 miilion in debt lines and then had toi put in place an equity raise of another 100 million. To me it sounds like its not going well.
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