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Wesdome reports gold production increase in second quarter, says on track to achieve annual guidance

Kitco Media
By Vladimir Basov
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(Kitco News) - Wesdome Gold Mines (TSX: WDO) announced today that the company produced 30,992 ounces of gold in Q2 2023, up 14% compared to Q2 2022 (27,240 ounces) and in line with budget.

In a news release, Wesdome said that at Eagle River, Q2 2023 production of 22,845 ounces was 28% higher than Q2 2022 as a result of record productivity from the underground mine, offsetting a slightly lower grade cycle related to mine plan sequencing.

The company added that at Kiena, despite the impacts from the regional forest fires, production of 8,147 ounces was an improvement over Q1 2023. The company said it continues to prioritize the development of the production ramp, which remains ahead of schedule, positioning the mine well to ramp-up production in 2024.

Importantly, Wesdome noted that with a similar production profile expected in H2 2023, its year-to-date performance of 59,360 ounces has the company tracking to the mid-point of its 110,000 – 130,000 ounce guidance range.

Wesdome is a Canadian focused gold producer with two high grade underground assets, the Eagle River mine in Ontario and the recently commissioned Kiena mine in Quebec. 

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Kitco Media

Vladimir Basov

Vladimir (PhD, MEng in Mining) is a professional mining engineer, scientist and analyst that has more than 20 years of practical in-field and research experience. He is particularly interested in collecting, processing baseline data and writing insightful data-driven mining industry analytics, articles, statistical and research reports.

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