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Wesdome reports second quarter and first half operating and financial results
Published : August 06, 2013
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Wesdome reports second quarter and first half operating and financial results

TORONTO, Aug. 6, 2013 /CNW/ - Wesdome Gold Mines Ltd (TSX: WDO) ("Wesdome" or the "Company") is pleased to report its unaudited financial and operating results from its Canadian operations for the second quarter ended June 30, 2013.  This information should be read in conjunction with the Company's interim unaudited financial statements and Management's Discussion and Analysis for the second quarter ended June 30, 2013 which will be available for viewing on the Company's website at www.wesdome.com and on SEDAR (www.sedar.com).  All figures are in Canadian dollars unless otherwise specified.

The Company owns and operates the Eagle River Mine Complex in Wawa, Ontario and the Kiena Mine Complex in Val d'Or, Quebec.  On January 1, 2012, the Mishi Mine in Wawa commenced commercial production.  The Eagle River and Mishi Mines feed a common mill and are referred to as the Eagle River Complex.  The Eagle River Mine has been in continuous production since commercial production commenced January 1, 1996.  It has produced over 929,408 ounces to date.  The Kiena Mine was purchased by the Company in 2003.  It restarted commercial production on August 1, 2006.  It was previously in production from 1982 - 2002.  To date the Kiena Mine has produced over 1,752,708 ounces of gold.

HIGHLIGHTS

  • Production on track to meet or exceed guidance
    • 13,700 ounces in 2nd quarter of 2013
    • 28,300 ounces in 1st half of 2013
  • Eagle River production costs of $1,066/oz in the 1st half of 2013
  • Eagle River grades double to 11.3 gAu/tonne in 1st half of 2013
  • Mishi grades up 50% to 3.4 gAu/tonne in 1st half of 2013
  • Mining operations rationalized - high cost production suspended
  • Earnings flat, cash flow from operations covers capital expenditures
  • 2nd half outlook bright with large, strong grade stockpiles and exclusive focus on best margin operations
  • Drilling to accelerate at the Eagle River Mine in 2nd half of 2013

Donovan Pollitt, President & CEO comments "We have streamlined operations, built large stockpiles and have strong grades in the pipeline.  Milling efficiencies are incrementally improving towards our goal of doubling throughput at our Eagle River Complex.  We have beefed up our operating expertise and are defensively positioned with good upside.  An exclusive focus on our best grade, lowest cost operations will translate into improved financial performance in the second half."

OVERALL PERFORMANCE

On March 7, 2013, the Company announced the suspension of mining at Kiena.  On June 30, 2013, mining activities ceased.  Focusing efforts on our best grade mine will increase margins and reduce overall costs and risks for the second half of 2013 and production in future years.

At June 30, 2013, the Company had $12.2 million in working capital, and 9,233 ounces of gold in inventory.  The inventory is carried at cost and is recorded as mining and processing costs in the fiscal period in which it is sold.  For the first half of the year, revenue exceeded mining and processing costs attributable to sales by $7.3 million, $5.6 million in capital costs were incurred and cash flow from operations totalled $5.6.

In the second quarter, gold production totalled 13,739 ounces.  For the first half of the year production was 28,268 ounces, slightly ahead of last year.  Production costs averaged $1,246 per ounce for the six month period, including 7,613 ounces from Kiena at a cost of $1,735 per ounce and 20,655 ounces at $1,066 per ounce from the Eagle River Complex.  With 100% focus on the Eagle River complex in the second half of the year and improving mill throughput, we expect improved financial performance.

Market confidence in gold mining continues to decrease.  Recent declines of 25% in the gold price have been partially offset by declines in the $Cdn/$US exchange rate.  We are confident our high grades at Eagle River offer the best protection from this price weakness.  We are defensively positioned with rationalized mining operations, large stockpiles and strong grades.

RESULTS OF OPERATIONS

    Three Months Ended June 30  Six Months Ended June 30
    2013   2012   2013   2012
EAGLE RIVER COMPLEX                
Eagle River Mine                
  Tonnes milled    23,068   39,515   51,029   78,601
  Recovered grade (g/t)    11.0   6.81   11.3   6.38
  Production (oz)    8,194   8,658   18,516   16,112
                     
Mishi Mine                
  Tonnes milled    8,338    15,609    19,748    34,712
  Recovered grade (g/t)    3.5    2.2    3.4    2.2
  Production (oz)    935    1,085    2,139    2,467
  Surface stockpile (tonnes)    84,232    32,790    84,232    32,790
                     
Total Eagle River Complex                
  Production (oz)    9,129   9,743    20,655    18,579
  Sales (oz)    14,400   11,500    24,400   20,500
  Bullion revenue ($000)     20,863   18,647   37,332   33,985
  Mining and processing costs                
    (cost of sales) ($000) *    18,079   9,588    27,525   23,055
  Mine operating profit ($000) *    2,784    9,059    9,807    10,930
                     
KIENA MINE COMPLEX                
  Tonnes milled    37,045   67,226    97,158    127,193
  Recovered grade (g/t)    3.9    2.5    2.4    2.2
  Production (oz)    4,610   5,330    7,613    8,983
  Sales (oz)    600   4,500   3,600   8,500
  Bullion revenue ($000)    846   7,301   5,797    14,008
  Mining and processing costs                
    (cost of sales) ($000) *    29   11,128    8,286   16,684
  Mine operating profit (loss) ($000) *    817   (3,827)   (2,489)    (2,676)
                 
TOTAL MINE OPERATIONS                
  Production (oz)    13,739   15,073   28,268   27,562
  Sales (oz)    15,000   16,000   28,000   29,000
  Gold inventory (oz)    9,233    7,214    9,233   7,214
  Bullion revenue ($000)    21,709   25,948   43,129    47,993
  Mining & processing costs                
    (cost of sales) ($000) *    18,108   20,716    35,809   39,739
  Mine operating profit ($000) *    3,601   5,232   7,320   8,254
  Gold price realized ($Cdn/oz)    1,447   1,620    1,540    1,653


RECONCILIATION OF PRODUCTION COSTS TO MINING & PROCESSING COSTS (Cost of Sales)

    Three Months Ended June 30  Six Months Ended June 30
    2013   2012   2013   2012
Eagle River Complex                
  Mining & processing costs ($000)    18,079    9,588    27,524   23,053
  Inventory-related adjustments ($000) ††    (6,958)   1,564   (5,497)   (2,282)
  Production costs ($000) *    11,121   11,152   22,027   20,771
  Production costs per ounce    1,218   1,145   1,066   1,118
                   
Kiena Complex                
  Mining & processing costs ($000)    29   11,128    8,285   16,683
  Inventory-related adjustments ($000) ††    4,971   (2,487)   4,925   307
  Production costs ($000) *    5,000   8,641    13,210    16,990
  Production costs per ounce    1,085   1,621    1,735   1,891
                   
TOTAL MINE PRODUCTION COSTS                
  Production costs ($000) *    16,121   19,793    35,237   37,761
  Production costs per ounce    1,173   1,314    1,246    1,370


† Bullion revenue includes minor by-product silver sales
* The Company has included in this report certain non-IFRS performance measures, including mine operating profit, mining & processing costs to applicable sales, and production costs. Production costs per ounce reflect actual mine operating costs incurred during the fiscal period divided by the number of ounces produced. These measures are not defined under IFRS and therefore should not be considered in isolation or as an alternative to or more meaningful than, net income(loss) or cash flow from operating activities as determined in accordance with IFRS as an indicator of our financial performance or liquidity. The Company believes that, in addition to conventional measures prepared in accordance with IFRS, certain investors use this information to evaluate the Company's performance and ability to generate cash flow.
 
†† Inventory-related adjustments are adjustments made to production costs in order for the Company's gold inventory to be valued at the lower of production cost on a first-in, first-out basis and at net realizable value, in accordance with its accounting policy under IFRS.


During the second quarter, bullion sales exceeded mining and processing costs attributable to sales by $3.6 million.  In addition to these direct operating costs, additional cash costs, including royalty payments, corporate and general costs and interest payments amounted to $1.1 million.

At the Eagle River Complex, we lost about a month of milling due to severe regional and local flooding during the spring thaw.  Despite the floods, recovered grades at Eagle River were about double those experienced last year and recovered grades at Mishi were up more than 50%.  As previously disclosed, we are in a high grade mining sequence in the 811 Zone, expected to be a significant contributor through 2015.

Mill stockpiles grew to about 100,000 tonnes, including about 85,000 tonnes of Mishi ore at about 2.5 gAu/tonne and about 15,000 tonnes of Eagle River ore at about 7.0 gAu/tonne.  We decided to curtail contract mining activities at Mishi until perhaps next spring in order to work through the stockpile.  This will save about $0.5 million per month in production costs throughout the remainder of the year.

With no shortage of good grade millfeed available and improving reliability in our milling operation, we expect to meet or exceed our 2013 production guidance of 55,000 ounces.  We are proceeding with an aggressive permitting timeline for our new tailings management area and are evaluating options to double mill capacity.

At Kiena, costs declined and grades improved as operations wound down.  On March 7, 2013, the Company announced its intention to suspend mining operations at the Kiena Mine.  We are placing Kiena on care and maintenance status.  Active mining ceased June 30, 2013.  Equipment is available to help our other operations and a care and maintenance schedule and budget is being developed.

Subsequent to the end of the quarter, two important events were announced.  First, we announced the appointment of Philip Ng, P.Eng., as Chief Operating Officer of the Company.  This bolsters our management's operating experience and with recent Board additions brings direct mining operating experience to the table.

Secondly, we announced an amalgamation with Windarra Minerals Ltd.  This amalgamation is a win-win for both companies and Windarra is expected to hold a special meeting to approve the transaction in the fall.

At Eagle River, underground drilling will accelerate in the second half of the year.  We will be drilling the 811 Zone where it is open at depth.  Production year-to-date in the 811 Zone has averaged 15.4 gAu/tonne.  We are excited about our prospects.

LIQUIDITY AND CAPITAL RESOURCES

At June 30, 2013, the Company had working capital of $12.2 million compared to $13.9 million at December 31, 2012.  During the first half of 2013, capital expenditures totalled $5.6 million compared to $3.0 million in 2012.  Capital expenditures were concentrated in minesite development, mine and mill infrastructure.  Cash balances have declined since the beginning of the year, but we had gold on hand and have reduced our accounts payable by about $5 million since March 31, 2013.

The Company traditionally maintains an inventory of gold.  At June 30, 2013, this liquid asset consisted of 9,233 ounces of gold with a market value of $12.0 million at $1,300 Cdn/ounce.  The gold inventory is carried at the lower of cost or market, in this case at $11.6 million or about $1,251 per ounce.  The costs of this inventory are recognized in the fiscal period in which the gold is sold based on a first-in, first-out inventory basis.  Accordingly, recognized costs presented in quarterly and annual financial statements include a component of costs incurred in previous periods.

Additionally, the Mishi ore stockpile at the mill, which totals 84,232 tonnes, is carried in inventory at a cost of $4.5 million or $52.93 per tonne.

On May 24, 2012, the Company completed a $7,021,000 placement of unsubordinated convertible debentures.  The term is 5-years bearing interest at 7% per annum payable semi-annually and convertible into common shares at $2.50 per common share.  The net proceeds of $6,821,000, along with cash at hand, were used to redeem existing convertible debentures in the amount of $10,931,000 that matured on May 31, 2012.  This resulted in the Company paying down $4.1 million in debt.

The result of this financing is that interest costs have declined and working capital has improved by moving the liability component to long term liabilities from short term liabilities.

Management believes we have sufficient liquidity to carry out our mining, development and exploration programs and prefers not to dilute shareholders' interest with equity issues.  The Kiena mining suspension will improve our financial position and improve return on capital.

With current gold prices, operations are capable of generating good operating cash flow, as they have in the past.

OUTLOOK

We have streamlined our mining operations, built large stockpiles and have strong grades in the pipeline.  We are defensively positioned with good upside.  We expect to meet or exceed our 2013 production guidance of 55,000 ounces.  Furthermore, we forecast cost reductions and improving cash flows in the second half of 2013, due to suspended mining at Kiena and deferral of mining activities at Mishi for the remainder of the year.

At Eagle River, drilling of the 811 Zone at depth has started and will continue through the second half of the year.  We are excited about our prospects here.  The 811 Zone is our richest and lowest cost zone, with production year to date averaging 15.4 gAu/tonne.

ABOUT WESDOME

Wesdome is in its 26th year of continuous mining operations in Canada.  It currently has two producing gold mines in Wawa, Ontario and owns the Kiena Complex in Val d'Or, Québec.  The Company has 101.8 million shares issued and outstanding and trades on the Toronto Stock Exchange under the symbol "WDO".

This news release contains "forward-looking information" which may include, but is not limited to, statements with respect to the future financial or operating performance of the Company and its projects. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Forward-looking statements contained herein are made as of the date of this press release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements if circumstances, management's estimates or opinions should change, except as required by securities legislation. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.

 
Wesdome Gold Mines Ltd.
Condensed Interim Consolidated Statements of Financial Position
(Unaudited, expressed in thousands of Canadian dollars)
 
      June 30     December 31
      2013     2012
Assets            
Current            
  Cash and cash equivalents   $  1,481   $ 4,633
  Restricted funds - short-term       200     200
  Receivables       2,968     4,298
  Inventory       18,970     19,633
      23,619     28,764
               
Restricted funds       2,390     2,381
Deferred income taxes       14,812     14,870
Mining properties, plant and equipment       34,145     32,681
Exploration properties       30,397     30,154
    $ 105,363   $ 108,850
             
Liabilities            
Current            
  Payables and accruals    $ 10,622   $ 13,996
  Current portion of obligations under finance leases       761     898
      11,383     14,894
               
Income taxes payable       22      22
Obligations under finance leases       340     641
Convertible 7% debentures       5,874     5,760
Provisions       2,588     2,545
      20,207     23,862
               
Equity            
Equity attributable to owners of the Company            
  Capital stock       122,541     122,651
  Contributed surplus       2,202     2,059
  Equity component of convertible debentures       870     870
  Deficit       (40,828)     (41,009)
      84,785     84,571
Non-controlling interest       371     417
Total equity       85,156     84,988
    $  105,363   $ 108,850


 
Wesdome Gold Mines Ltd.
Condensed Interim Consolidated Statements of Income and Comprehensive Income
(Unaudited, expressed in thousands of Canadian dollars)
 
  Three Months Ended June 30  Six Months Ended June 30
                 
    2013    2012    2013    2012
Revenue                
  Gold and silver bullion  $ 21,709  $ 25,948  $  43,129  $  47,993
                     
Operating expenses                
  Mining and processing    18,108    20,716    35,809   39,739
  Depletion of mining properties     2,862     2,570     4,220    4,449
  Production royalties     212    245     531    475
  Corporate and general     688    577   1,336     1,259
  Share based compensation     56    179     202    352
  Impairment charges     -    -     633    -
    21,926   24,287    42,731     46,274
                     
(Loss) income from operations     (217)    1,661   398    1,719
Interest and other income    90   18     110   107
Interest on long-term debt     (196)    (279)    (393)    (655)
Other interest     (2)   (3)    (5)   (18)
Accretion of decommissioning liability    (22)   (13)    (43)   (27)
Write-down of exploration property     -    (950)     -     (950)
(Loss) income before income tax     (347)     434    67    176
Income tax expense (recovery)                
  Current     -    29     -     29
  Deferred     (390)    (295)    58    (245)
    (390)     (266)     58     (216)
Net and total comprehensive                
  income  $ 43  $  700 9 $  392
                     
Net (loss) income and total                
  comprehensive (loss) income                
  attributable to:                
    Non-controlling interest  $  (11)  $  (37)  $  (53)  $  (76)
    Owners of the Company     54    737    62    468
  $  43  $  700  $ 9  $  392
                     
                     
Earnings and comprehensive                
  earnings per share                
    Basic  $  0.00  $  0.01  $  0.00  $  0.00
    Diluted  $ 0.00  $ 0.01  $  0.00  $  0.00

 
Wesdome Gold Mines Ltd.
Condensed Interim Consolidated Statements of Cash Flows
(Unaudited, expressed in thousands of Canadian dollars)
  Three Months Ended June 30  Six Months Ended June 30
    2013    2012    2013    2012
Operating activities                
  Net income  $  43 $ 700  $ 9 $ 392
  Depletion of mining properties     2,862   2,570    4,220   4,449
  Accretion of discount on                
    convertible debentures     58    76    114     230
  Impairment charges     -   950    633     950
  Gain on sale of equipment     -   23    2   23
  Share based compensation     56    179    202     352
  Deferred income taxes     (390)   (295)    58    (245)
  Interest expensed     138   204   279     426
  Accretion of decommissioning liability     22    13    43   27
    2,789   4,420    5,560     6,604
  Net changes in non-cash working                
    capital     (957)     2,101   (2,153)   1,688
    1,832    6,521    3,407   8,292
Financing activities                
  Funds paid to repurchase common                
    shares under NCIB     (51)    (21)    (51)     (42)
  Redemptions of convertible debentures    -   (10,931)    -     (10,931)
  Issuance of convertible debentures,                
    net of financing     -     6,821     -    6,821
  Repayment of obligations under                
    finance leases     (221)     (303)    (438)    (558)
  Interest paid     (138)    (204)    (279)    (426)
    (410)    (4,638)   (768)   (5,136)
Investing activities                
  Additions to mining and exploration                
    properties     (1,644)   (2,829)    (5,644)     (5,794)
  Proceeds on sale of equipment     -   3    16     3
  Funds held against standby letters                
    of credit     (5)   (5)    (9)     325
    (1,649)   (2,831)     (5,637)    (5,466)
  Net changes in non-cash working                
    capital     (389)   665    (154)   658
    (2,038)   (2,166)    (5,791)    (4,808)
Decrease in cash and cash equivalents     (616)   (283)    (3,152)   (1,652)
Cash and cash equivalents,                
  beginning of period     2,097    3,846     4,633   5,215
Cash and cash equivalents,                
  end of period  $ 1,481 $  3,563 $  1,481  $  3,563
                 
Cash and cash equivalents consist of:                
  Cash  $  1,481  $  2,761  $  1,481  $ 2,761
  Term deposit (2012: 0.93%)     -    802    -    802
  $  1,481 $  3,563  $ 1,481  $  3,563


 

 

 

 

SOURCE Wesdome Gold Mines Ltd.

For further information:

Donovan Pollitt, P.Eng., CFA 
President & CEO
416-360-3743   ext 25

or

George Mannard, P.Geo.
Vice President, Exploration
416-360-3743   ext 22

8 King St. East, Suite 1305
Toronto, ON, M5C 1B5
Toll Free: 1-866-4-WDO-TSX
Phone: 416-360-3743, Fax: 416-360-7620
Email: invest@wesdome.com, Website: www.wesdome.com

Data and Statistics for these countries : Canada | All
Gold and Silver Prices for these countries : Canada | All

Wesdome Gold Mines Ltd.

PRODUCER
CODE : WDO.TO
ISIN : CA95083R1001
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Wesdome is a gold development stage company based in Canada.

Wesdome holds various exploration projects in Canada.

Its main assets in production are EAGLE RIVER and KIENA in Canada, its main asset in development is MISHI in Canada and its main exploration properties are DUBUISSON DISCOVERY, WESDOME PROJECT, MAGNACON, SHAWKEY and EDWARDS MINE - WESTERN QUEBEC MINES in Canada.

Wesdome is listed in Canada and in United States of America. Its market capitalisation is CA$ 1.5 billions as of today (US$ 1.1 billions, € 996.8 millions).

Its stock quote reached its lowest recent point on July 19, 2013 at CA$ 0.32, and its highest recent level on July 03, 2020 at CA$ 11.46.

Wesdome has 132 550 000 shares outstanding.

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1/24/2014& Moss Lake Announce Agrmt for Proposed Acquisition by Wesdo...
12/16/2013(Eagle River)Drilling Expands Potential of New Zones at Wesdome's Eagle R...
12/16/2013(Eagle River)- Drilling expands potential of new zones at Eagle River
12/16/2013(Eagle River)- Drilling expands potential of new zones at Eagle River
9/9/2013Moss Lake 43-101 Preliminary Economic Analysis Report Filed
7/30/2013and Windarra Announce Definitive Agreement Regarding Acquisi...
6/17/2013(Mishi)Mill Upgrading Intensifies as Mishi Mine Stockpil Grows, Con...
5/7/2013(Eagle River)Eagle River Drilling Encouraging
2/20/2013Moss Lake - Material Increase in Mineral Resources
10/11/2012(Mishi)- Infill drilling east of Mishi Pit builds confidence
3/5/2012Encouraging Results from Northwest Zone Surface Drilling
8/17/2011(Eagle River)- Eagle River Mine - New zones at depth
2/16/2011(Kiena)- KIENA SAFETY MILESTONE
2/2/2011(Mishi)2010 YEAR END RESERVES AND RESOURCES ESTIMATES GROW
2/2/2011(Eagle River)2010 YEAR END RESERVES AND RESOURCES ESTIMATES GROW
2/2/2011(Kiena)2010 YEAR END RESERVES AND RESOURCES ESTIMATES GROW
2/5/2008(Moss Lake)Drilling Commences at Moss Lake
1/3/2008Drilling extends high grade 811 Zone to depth
Corporate news of Wesdome Gold Mines Ltd.
7/27/2016Wesdome Gold Mines Announces Appointment of Duncan Middlemis...
6/14/2016Wesdome Gold Mines Announces Results of Postponed Annual Gen...
6/9/2016Wesdome Announces Sale of Certain Mining Claims Adjoining Ag...
6/8/2016Support Builds for Wesdome’s Enhanced Board as Shareholders ...
5/31/2016Wesdome’s No. 7 Zone Expands, Continuity Confirmed with Init...
5/30/2016Wesdome Gold Mines Announces New Annual General Meeting Date...
5/27/2016Wesdome Gold Mines Ltd. and Canoe Mining Ventures Corp. Clos...
5/17/2016Wesdome Gold Mines Responds to a Press Release Issued by Res...
4/29/2016Wesdome Closes C$17 Million Bought Deal Financing
4/15/2016Wesdome Announces First Quarter 2016 Production Results
4/12/2016Wesdome Announces C$15 Million Bought Deal Financing
4/11/2016Wesdome Announces Appointment of Corporate Secretary
4/7/2016Wesdome Gold Mines Ltd. and Canoe Mining Ventures Corp. Ente...
4/6/2016Wesdome Gold Mines Announces Director Nominees in Connection...
3/29/2016Wesdome Announces 2015 Fourth Quarter and Full Year Financia...
3/21/2016Wesdome Announces Filing of NI 43-101 Technical Report for i...
1/18/2016Wesdome Announces Fourth Quarter and Full Year Production Re...
12/18/2015Wesdome Gold Mines Closes Private Placement of Flow-Through ...
10/20/2015Wesdome Gold Mines Announces Closing of Common Shares for Gr...
10/13/2015Wesdome Gold Mines Increases Third Quarter Gold Production b...
9/16/2015Wesdome Gold Mines Announces Executive Management Change
9/14/2015Wesdome Gold Mines Announces Four Year Mine Plan at the Eagl...
8/18/2015Wesdome Gold Mines Confirms Pit Extensions at Mishi
8/10/2015Wesdome Gold Mines Announces Second Quarter Financial Result...
7/21/2015Wesdome Gold Mines Announces Initial 300 West Lens Developme...
7/21/2015Wesdome Gold Mines Announces Initial 300 West Lens Developme...
7/15/2015Wesdome Gold Mines Announces Second Quarter Operating Result...
7/7/2015Wesdome Gold Mines Appoints Charles Page, P.Geo to the Board...
6/25/2015Confirms Continuity of the S50 East and Presqu'Ile Zones at ...
4/13/2015Wesdome Gold Mines Announces First Quarter Operating Results
4/8/2015New 300 Zone – Drifting Confirms Continuity – Drilling Expan...
4/8/2015- New 300 Zone - Drifting Confirms Continuity - Drilling Exp...
4/8/2015Wesdome Gold Mines Ltd. - New 300 Zone - Drifting Confirms C...
2/28/2015Wesdome Announces Fourth Quarter and Full Year Financial Res...
2/26/2015Wesdome announces fourth quarter and full year financial res...
1/29/2015Wesdome Increases Reserves 57% at Eagle River Mine
1/29/2015Wesdome Increases Reserves 57% at Eagle River Mine
1/14/2015Wesdome Gold Mines Exceeds Full Year Production Guidance
1/14/2015Wesdome Gold Mines Exceeds Full Year Production Guidance; Pr...
12/4/2014- Drilling Extends 300 And 7 Parallel Zones
12/4/2014Wesdome Gold Mines Ltd. - Drilling Extends 300 And 7 Paralle...
11/19/2014-- Dubuisson North drilling cuts 45.05 g/t Au over 5.0 metre...
11/6/2014announces third quarter financial results; generates CAD$3.4...
11/6/2014Wesdome Gold Mines announces third quarter financial results...
10/16/2014Wesdome Gold Mines announces third quarter operational resul...
9/15/2014- New 7 Zone opens up at depth drill hole EU-756 intersects ...
9/15/2014Wesdome Gold Mines Ltd. - New 7 Zone opens up at depth drill...
8/26/2014Wesdome appoints Vice President, Investor Relations
7/31/2014Wesdome reports earnings of $0.07 per share in first half 20...
7/21/2014Wesdome Reports Q2 Production / Sales
6/27/2014Wesdome Gold Mines Ltd. - Drilling expands Mishi potential
6/2/2014announces TSX approval of normal course issuer bid
2/10/20142013 Year End Reserves Increase
1/28/2014Posts Strong Fourth Quarter Production
1/24/2014and Moss Lake announce agreement for proposed acquisition by...
10/1/2013and Windarra Minerals Announce Closing of Amalgamation
9/27/2013Moss Lake Amends $2,000,000 Principal Amount Promissory Note
9/5/2013(Eagle River)Eagle River Update
8/26/2013and Resolute Performance Fund announce agreement
8/19/2013(Eagle River)Two New Gold Structures at Wesdome's Eagle River
8/19/2013(Eagle River)- Two new gold structures at Eagle River
8/12/2013receives meeting requisition from shareholder
7/29/2013Moss Lake Announces Preliminary Economic Analysis Results
7/18/2013Second Quarter Production Summary
7/17/2013and Windarra Announce Letter of Intent Regarding Acqusition ...
7/4/2013adopts corporate governance measures
5/3/2013Moss Lake Gold Mines Extends Maturity Date of $2,000,000 Pri...
5/1/2013(Eagle River)Reports Accident at Eagle River
11/12/2012Reports Further Improvement in Earnings and Cash in Q3 2012
9/12/2012at the Denver Gold Forum
9/1/2011- New Gold Prospect Identified Along The Cadillac Break
8/5/2011announces TSX approval of normal course issuer bid
4/21/2011at the European Gold Forum
4/1/2011PLANS AGGRESSIVE DRILLING AND DEVELOPMENT PROGRAM IN 2011
7/5/2010Moss Lake Adds Two New Directors
11/5/2009Pukaskwa Drilling to Commence
6/24/2009Announces Intention to make a Normal Course Issuer Bid
1/24/2008 Website Updates
1/10/2008On BNN, Wednesday, January 9, 2008
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