Wesdome Gld Mine - WDOFF STOCK NEWS

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.

Wesdome Gold Mines Ltd. has announced promising underground exploration drilling results at the Kiena Mine Complex in Quebec. Significant mineralization has been discovered, including a new interval located 100 meters below the current resource limit. Recent drill results include:

• 92.1 g/t Au over 50.7 m (Hole 6796W6)
• 18.7 g/t Au over 48.0 m (Hole 6796W4)
• 13.9 g/t Au over 83.2 m (Hole 6752W10)

The company plans to invest $17.7 million in exploration in 2022 to further enhance resource potential.

Wesdome Gold Mines Ltd. reported Q1 2022 financial results, showcasing a 36% increase in cash flow from operations and a 45% rise in revenue to $66.7 million. Production reached 25,611 ounces, a 13% increase, despite challenges from supply chain issues and the Omicron variant. Costs rose, with cash costs at $1,295/oz and all-in sustaining costs at $1,695/oz. Leadership changes include Frederic Mercier-Langevin as COO and Joanna Miller as VP, Sustainability and Environment. The company anticipates a return to positive free cash flow in the second half of the year as production ramps up.

Wesdome Gold Mines reports ongoing success in drilling the Falcon 7 Zone at its Eagle River Mine, revealing significant gold mineralization in volcanic rocks. Recent drilling results include high-grade assays of 90.2 g/t Au over 4.9 m and 87.1 g/t Au over 6.6 m, supporting the zone's potential as a valuable addition to the mine. The Falcon 7 Zone contains over 100,000 ounces of gold, with a mineral reserve grade exceeding 13 g/t Au. Ongoing exploration efforts are focused on expanding this resource further.

Wesdome Gold Mines Ltd. has filed a technical report for the Eagle River Gold Mining Complex, prepared by SRK Consulting. The report complies with National Instrument 43-101 and can be accessed on the company’s website and SEDAR. The company emphasizes the health and safety measures in place due to COVID-19, although it acknowledges potential impacts on production timelines from the Omicron variant. Wesdome aims to produce over 200,000 ounces of gold in 2022 across its Eagle River and Kiena operations.