Wesdome Gold Mines Ltd T.WDO

Alternate Symbol(s): WDOFF

Metals & Mining Gold

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.

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Wesdome Gold Mines Ltd

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Post by loonietuneson Jan 18, 2023 10:35am

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Post# 35230508

From Mark @ IKN

Wish I'd read this last night? Now this is getting silly algo's?

Wesdome 4q22 production and 2023 guidance

We can do this in one word: Sucks

For more words: 4q22 production was light compared to guidance, sales even lighter and as a result, the operations aren't going to be much over breakeven. As for 2023, guidance at Eagle seems to be pitched to the conservative side in order to kitchen-sink the message and allow some potential room for upside, because the news out of Kiena is not good. WDO now won't access the high-grading deep levels until late 2023 at the very earliest, which means guided grade is much lower than expected and the while on-site operations should be modestly profitable, the combo capex budget and guided consolidated costs suggest a significant cash shortfall. No wonder WDO took out those lines of credit, it looks as though it will remain in negative working cap territory for at least three more quarters. We're also supposed to believe that Kiena Deep will come online January 1st 2024 and run on rails when it does, apparently.

The bottom line? Same as the top line, this NR sucked and only the gold price can save it from new 52 week lows tomorrow. NR here.