WESDOME GOLD MINES LTD - WDOFF STOCK NEWS

Wesdome Gold Mines Ltd. (WDO) announced it will release its 2022 third quarter financial results post-market on November 9, 2022. The results, including financial statements and management's analysis, will be accessible on its website and SEDAR. A conference call to discuss these results is scheduled for November 10, 2022, at 10:00 AM ET, with preregistration recommended. Wesdome operates the Eagle River and Kiena mines, focusing on becoming Canada’s next intermediate gold producer.

Wesdome Gold Mines Ltd. reported its Q3 2022 production results, showing a 22% decline in total gold production compared to the previous year. The planned shutdowns in July for facility upgrades at Eagle River and Kiena were completed successfully, leading to operational gains. Gold production at Eagle River decreased by 26%, while Kiena experienced a significant drop of 47%. The company anticipates production to align with the lower end of its 120,000 – 140,000 ounces guidance for 2022.

Wesdome Gold Mines Ltd. has announced significant drilling results from the Falcon 7 Zone at the Eagle River Mine in Ontario. Recent drilling confirmed high gold grades, with notable intersections including 40.3 g/t Au over 1.5 m and 11.1 g/t Au over 3.0 m. These findings extend mineralization to within 50 m of the surface, indicating a potentially new mining area. Additionally, new gold lenses have been identified in the mine diorite, enhancing the prospects for future mining. The ongoing exploration aims to define further mineralization to support production.

Wesdome Gold Mines Ltd. announced promising surface exploration results from the Presqu’île Zone at the Kiena Mine Complex in Quebec. The drilling confirmed the continuity of mineralized zones, with highlights including a remarkable 45.0 g/t over 3.8 m in the PR-2A Zone. The company plans to fast-track the construction of an exploration ramp to enhance resource access, operational efficiency, and potential gold production. The ongoing exploration demonstrates the property’s prospectivity, while the construction of a paste backfill plant is on track for completion by November 2022.

Wesdome Gold Mines Ltd. has executed an amended credit agreement, increasing its senior secured revolving credit facility to $80 million, with potential upsizing to $150 million upon declaring commercial production at Kiena. The new agreement offers more favorable covenants, reduced borrowing margins, and extends the term to August 25, 2025. CEO Duncan Middlemiss emphasized the enhanced financial liquidity, which supports the ramp-up at Kiena. However, the company has faced COVID-19 impacts, affecting operations and future production timelines.

Wesdome Gold Mines Ltd. reported Q2 2022 results revealing a 27,240-ounce gold production, a 10% decline year-over-year. Cash costs rose to $1,538/oz, a stark increase of 89% from Q2 2021. Revenue dipped 3% to $61.9 million, while AISC surged 63% to $2,020/oz. The company revised its 2022 guidance, lowering Eagle River's output to 85,000-95,000 ounces and Kiena to 34,000-43,000 ounces, due to operational challenges including supply chain issues and cost inflation.

Wesdome Gold Mines Ltd. (WDO) plans to announce its 2022 Q2 financial results on August 10, 2022, following market close. The financial statements and management analysis will be available on their website and SEDAR. A conference call to discuss these results is scheduled for August 11, 2022, at 10:00 am ET. In light of ongoing COVID-19 concerns, the company is implementing safety measures to protect employees as they continue operations, although they acknowledge risks impacting production timelines due to recent variant outbreaks.

Wesdome Gold Mines Ltd. (WDOFF) reported its Q2 2022 production results, highlighting operational challenges at both the Eagle River and Kiena mines. At Eagle River, a defect in a new hoist rope led to two weeks of reduced productivity, while a leach tank failure caused an additional week of halted production. The Kiena site faced delays in equipment delivery, pushing its ramp-up timeline 3-4 months behind. The company is reevaluating its 2022 production guidance, expecting to release updated information on August 10.