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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 Feb 08, 2023 4:10pm
119 Views
Post# 35275465

RE:RE:RE:RE:RE:RE:RE:See diagram

RE:RE:RE:RE:RE:RE:RE:See diagram

Yes, I share your same thoughts. And I dumped a third of my position because I believe the next 2/4 of financials may provide a further buying opportunity. And for me, it was also about risk, often when management has a difficult time in operations… Sometimes they just can't solve them and need a new team. The amount of leverage that they have put into the company concerns me because I know that they will not make money in Q4 or Q1. And until the grades increase Akina, there's no way that the mine will throw off positive cash. They still need to do the exploration work and infrastructure work… Hence the exposed financially if they run into some other unforeseen challenges as they ramp down to the 129 level.

I believe the company has a great future at the Kiena mine. But for the next 6 to 12 months, it could be dead money.

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