upgrade mill Eagle River a new PR on the upgrade of the Eagle River mill
Wesdome let us know that they are fast tracking the necessary mill upgrade. This is an essential part of unlocking the undervaluation of the Wesdome share.
At this moment, Wesdome is stocking ore of Mishi (up to 85k tonnes) and Eagle River ore (up to 15k tonnes) because the mill can't handle more. They will be holding further Mishi development until the end of the year which should result in a hefty $3.5mio cost saving by years end.
Up until now (2.5months, Mishi produced 1.2k ounces this quarter, matching 1.3k Q1 production).
Focus would be know on the higher Eagle River grades
This PR might not be the easiest one to digest, but the underlying message should be read positive. Focus on the high Eagle River grades resulting in higher production, a temporary $3.5mio cost saving on Mishi and the upgrade on the Eagle River Complex Mill. The latter is key in unlocking Wesdome's potential. Once the Mill would be running in a more optimal way, Eagle River and Mishi would be producing gold at unseen rates and hence produce free cash flow and bottom line profits.
Trappist