TSX:WDO - Post Discussion
Post by
TimeBuilder on Dec 01, 2022 9:52am
Worth a repeat IMO ;>)
07:45 AM EST, 12/01/2022 (MT Newswires) -- Wesdome Gold Mines Ltd. (WDO.TO) on Thursday achieved commercial production at the Kiena mine in Quebec.
Kiena is Wesdome's second operating mine in Canada. The company also owns the Eagle River mine in Ontario.
Wesdome, which gained 1.0% yesterday, said the commissioning of the paste fill plant progressed well in November. Demonstrating the viability of the paste fill plant was the final element for Kiena to meet its commercial production criteria.
Wesdome said development to access the bulk of the high-grade Kiena Deep A zone was postponed to 2024, citing development delays. Accessing the zone will allow the company to achieve positive free cash flow and an annual production run rate in line with a 2021 pre-feasibility study.
Meanwhile, the company said it received notice that its revolving credit facility has been increased to $150 million from $80 million.
Since 2017, Wesdome has invested about $250 million in Kiena.
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