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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

Post by 7tapason Jan 18, 2023 11:37am
204 Views
Post# 35230734

Not backing up the truck yet, no catalyst except gold price

Not backing up the truck yet, no catalyst except gold price or exploration results. And will they release poitive exploration results before reporting non-positive financials? IMO, Nope.

"The company is expected to report its 2022 financial results after market close on February 22. We will remain focused on the balance sheet.

Wesdome last reported $25mm of cash (September 30) and US$40mm drawn (November 9) on its $150mm credit facility (which was increased from $80mm when the company declared commercial production at Kiena on December 1). Recall, on December 2, Wesdome announced an at-the-market equity program to issue and sell up to $100mm common shares"

Looks like they broke even +/- 10 million on working capital with those Q4 results.
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