TSX:WDO - Post Discussion
Post by
bossu on Feb 04, 2023 9:14pm
Can not ''imaging'' the down fall
Just want to tell you that I have been following the Kiena Gold Mine storey since the discovery by Falconbridge in the 1980 and later bought by Campbell Red Lake who operated the deposit from 1986 to 1997
At the time I was already invested in ''Kiena Gold mine ''
which was sold to Mcwatters that operate the deposit for 5 years and close the mine because of the low gold price .
Then Kiena was sold in 2003 for $ 2,3 M to Wesdome .
As you can see Kiena is an ''epic''storey and still continue to be an interesting one.
With the rejuvenaration of Kiena deposit there is some doubt about the profitability even with a $ 1800 /oz gold price.
But what I see as a positive view is the outstanding drilling results published for the last 2 years.
Of course I have been in and out many times in Westdome
for the last three years but hopefully out for now !
Just to say that:
Investors have to be be patient but good financial results should come back in 2024 assuming a US $ 1800 gold price average.
In my view ,a $ 6 share price at the moment is fully discounted .
Probably not going to get back on the train because of some interest in a couple of mid size gold producers but I woud not be surprised to see a predator
taking over Wesdome at a discount price.
Some numbers :
Q3 2022 -Cash position at the end of the Q3 $24.7-million.$ CN
-Operating cash flows decreased by 62 per cent to $ 12,9 M ($ CN) -Q3 Production 22 883 oz -
-Q4 Production 31 500 oz
-2022 Total production 110 850
-Guidance 2023 Mid pt 117 000
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