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Wesdome Gold Mines Ltd T.WDO

Alternate Symbol(s):  WDOFF

Wesdome Gold Mines Ltd. is a Canadian-focused gold producer with two high grade underground assets, the Eagle River mine in Ontario and the 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 50 kilometers west of Wawa, Ontario. The Eagle River underground mine near Wawa, Ontario is producing gold at a rate of 80,000 to 90,000 ounces per year. The Kiena Mine is located in the highly prospective Val d’Or, Quebec gold camp. The Kiena Mine is a fully permitted, integrated mining and milling infrastructure which includes a 930-meter production shaft and 2,000 tons-per-day capacity mill. The Kiena Mine Complex consists of the Kiena Mine concession, Kiena Mill, related infrastructure and equipment and land position in the Township of Dubuisson, Quebec.


TSX:WDO - Post by User

Bullboard Posts
Comment by monmickon Dec 26, 2009 3:07pm
305 Views
Post# 16619551

RE: RE: Hmmm. Buy or sell?

RE: RE: Hmmm. Buy or sell?This is pure speculation on my part, but here are 2 possibilities:

(1) Board has decided to ramp-up promotion of the company and RU is simply not the right guy to do it. DP has been doing many of the IR events and, while better than RU, he is not the right fit either. Company needs a President and CEO who can act as the public face of the company for potential investors. (Kind of like Telfer, Conway, McEwen, Burt, Marrone and Boyd are for their respective companies). While highly competent as an operator and manager, RU is not the right person for this new "public" role and, therefore, has been asked to leave.

(2) Board has decided to move away from the strictly organic growth model and is considering M&As. RU disagrees with this strategic shift and, therefore, must go.
Bullboard Posts